PHNOM PENH: Revenue reports continue to come in from the Royal Government for the first half of 2023. The General Department of Taxation (GDT) reported this week that they have already collected more than half the domestic tax revenue needed to reach its annual goal.

According to the GDT, 58% of the yearly plan was generated in tax revenue totalling nearly $2.1 billion US. The press release from July 13 reported that in June alone, $245 million US was generated through domestic taxes, $39 million US of which came from e-commerce transactions.

According to GDT Director-General Kong Vibol, the numbers are on track for the department to meet its annual goals stated in the Law on Financial Management 2023, which aims to bring in nearly $3.6 billion US in tax revenue this year.

Cambodia has two tax collecting bodies. The GDT focuses on interior taxes such as income tax, salary tax, value-added tax and property tax. The General Department of Customs and Excise (GDCE), which collects taxes on goods entering and leaving the country. The GDCE saw a 5% decline in its first quarter revenue this year at just over $564 million US back in April, most of which came from import taxes on vehicles and machinery.