Cambodia Keyword: General Department of Taxation

June 28, 2024

On 20 March 2024, the General Department of Taxation (“GDT”) published nine Prakas, making significant updates to various taxes in Cambodia, including the signboard tax, immovable property rental tax, accommodation tax, and public lighting tax. Below we provide a brief overview of these updates.

February 9, 2024

Tax season is upon us, and this year, Cambodia’s General Department of Taxation (“GDT”) is offering a helping hand to self-assessment taxpayers through Prakas 071. This new regulation promulgated on 30 January 2024, provides a unique opportunity to correct past tax declarations made due to misunderstandings or confusion, without facing hefty penalties and interest charges. […]

September 22, 2020

Introduction   The banking system in Cambodia includes commercial banks, specialized banks, microfinance institutions (“MFIs”), rural credit institutions, financial leasing companies, third-party processors, credit bureaus, representative offices, payment service providers, and money changers. Of these entities, commercial banks play a crucial role in providing financial services to the general public and businesses, ensuring economic and social stability, and the sustainable growth of the economy. As of this writing, there are 51 licensed commercial banks in Cambodia; […]

July 26, 2019

When applying Value Added Tax (“VAT”), a key consideration is the place of delivery of the goods or services, which is often determined by reference to the place of consumption. If goods are consumed outside of the territory, then they are considered to be export goods, and 0% VAT is usually applied. Likewise, services consumed […]

April 30, 2019

The Royal Government of Cambodia has been working hard to stimulate investment and economic growth. The General Department of Taxation (“GDT”) is playing an important role in this process and many new tax regulations and procedural changes have been introduced to improve transparency and eliminate disincentives to investment. Many companies have not yet fully considered […]

April 18, 2019

Financing and tax 2018 saw several changes to the tax regulations. The application of transfer pricing rules in Cambodia is now a reality. Starting from 2018, companies have to comply with the regulations issued in October 2017, which adopt the arm’s length principle in accordance with the OECD’s guidelines. The regulations left many questions unanswered, […]