CPP Members in Australia Celebrate 71st Anniversary of the CPP | WATCH LIVE: 71st Anniversary of the Establishment of the Cambodian People's Party | BREAKING NEWS: Covid-19 outbreak re-emerges in Cambodia | No More Distinction Between Vaccination Cards | BREAKING NEWS: Cambodia Releases Daily Covid-19 Statistics 29 June 2022 | ASEAN Special Envoy Visits Myanmar Again |

Cambodia Collects $1.9-billion in Taxes Since January

    Aa |   aA

Phnom Penh: The Ministry of Economy and Finance’s General Department of Taxation, GDT, has collected 10.6% less in taxes over the first eight months of the year when compared to the same period in 2020, but still, up to $1.9 billion in taxes have been collected since January.

Cambodia Chamber of Commerce vice-president, Lim Heng, believes the decrease comes from two main factors: less businesses activities due to the lockdown implemented to contain the spread of Covid-19 and the tax breaks given by the government to support sectors hit by the pandemic.

FASMEC – the Federation of Associations for Small and Medium Enterprises of Cambodia – President, Te Taingpor, believes that business is gradually getting back on track. Only in August, for example, $192.3 million were collected in taxes, 12.71% more than August 2020. Another positive aspect is the approval of a Free Trade Agreement between Cambodia and China, the CCFTA. Taingpor believes the CCFTA will expand Cambodia’s international trade and he hopes it will start taking place early in October.

Related News