Customs and Tax Compliance for Import and Distribution

Paying customs duty on the importation of goods is among the most important day to day operation of many businesses in Cambodia. Often this is smooth an without surprises. But in a certain number of cases, customs issues pose real problems. Whether they are importers and distributors, or producers, or e-commerce retailers, uncertainties or differences in interpretation or practice between the Customs Department and the private sector can significantly slow down operations, or create costly problems.

Add to that the tension between the valuation of goods for tax calculation purposes and the customs valuation in the company, which may puzzle many CEOs and CFOs. Plus, the Customs Department has dramatically stepped up compliance and verifications, and some in the private sector have trouble adjusting to the new reality.

Reasons enough for us to take a deep practical look at the sensitive overlap between tax and customs. What do you do when you are stuck between Customs value on the one hand, and tax calculations on the other hand?

Highlights

• What happens to Tax on profit and Minimum Tax when the Customs Department adjusts the value of imported goods?
• E-commerce: customs & tax issues
• Tax audits: Are you stuck between customs & GDT?
• Watch out for the new customs audit issues: royalties and service fees applicable to imported goods
• GATT valuation: royalty & service fees
• Transfer pricing: related parties at the border
• Troubleshooting on minimum values
• GDT tax audits and disputes on the value of imported goods

Keynote Speaker

H.E Dr. Kun Nhem
Director General of the General Department
of Customs and Excise
Minister attached to the Prime Minister’s Office