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"Thai Deputy Defense Minister Condemns Cambodia Over Landmine Incident Injuring Thai Soldiers; Keo Remy, however, warned, 'Please do not walk like a crab.'" | BREAKING: Tensions Escalate: Thai Troops Prepare to Launch Unauthorized Attack on Cambodian Territory Amid Internal Political Strife | Cambodia Rebuts Thailand’s Baseless Landmine Allegations and Urges Diplomacy to Maintain Regional Peace | Cambodia Accuses Thailand of Using Landmine Incidents as a Political Tool and Violating Ceasefire Agreements | Breaking: Kandal Provincial Police Arrest Notorious Lotion Manufacturer Love Riya | Cambodia Clarifies Misleading Claims About Ottawa Convention Meeting in Bangkok | Cambodia, China, and Thailand Discuss Regional Cooperation and Border Disputes at Mekong-Lancang Meeting | Smile Asia Philanthropic Visionary Award” Presented to Dr. Pich Chanmony Hun Manet | Cambodia & Thailand Call for Restraint and Adherence to International Agreements | International Observer Team Conducts Monitoring Visit Following Cambodia–Thailand Ceasefire Agreement | Cambodia, Vietnam Strengthen Ties in High‑Level Video Conference; Aim for $20B Trade |

Royal Government Introduces Eight Tax Incentives for Investment Projects in Sihanoukville

  • Posted Jun 20, 2024 09:23 by EAC News
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Phnom Penh, June 20, 2024 – To boost economic activity in Cambodia, particularly in Sihanoukville, the Royal Government has introduced eight tax incentives aimed at attracting and encouraging investment in stalled building projects that have been suspended or halted since 2016.

Mr. Trang Lay, Deputy Director of the Enterprise Audit Department of the General Department of Taxation, outlined the eight key tax incentives as follows:

1. Income Tax Exemption: This includes exemptions from monthly income tax and the annual minimum tax for a period of three years.

2. Value Added Tax Exemption: Enterprises providing goods or services for the continuation and completion of stalled buildings will be exempt from value added tax.

3. Withholding Tax Exemption: A five-year withholding tax exemption on real estate leases is available if investors lease the location from an individual for investment in a stalled building.

4. Property Tax Exemption: Investors will be exempt from property tax and administrative sanctions, including all taxes and interest, from 2016 to 2025.

5. Stamp Duty Exemption: Transfers of property ownership will be exempt from stamp duty from 2023 to 2025.

6. Fine and Interest Exemption: Investors proposing projects will be exempt from fines and interest from 2016 to 2024, provided the General Department of Taxation has not yet audited or set the tax.

7. Installment Tax Payment: Housing developers are allowed to pay tax in installments over a period not exceeding 36 months from 2024.

8. Incentives for Tourism: The state will levy tax incentives on the production or promotion of tourism products and destinations in Sihanoukville for 2024 and 2025.

Mr. Trang Lay emphasized that these incentives are designed to provide significant benefits, including tax relief and streamlined procedures, to both Cambodian and foreign investors looking to invest in Sihanoukville.

Notably, many stalled buildings in Sihanoukville have already found new investors to resume construction, and the government continues to seek additional investors for these projects.


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