Cambodia 2022 first half customs income at $1.2 billion

The General Department of Customs and Excise earned $1,293 million in customs income in the first half of this year, representing 50.1 percent of the financial plan for 2022.

Its director-general Khun Nhim mentioned the figures at a press conference on the result of tax collection from illegal imported and right-hand drive vehicles on Thursday.

“The collected income represented about half of the financial plan for 2022, reflecting good performance in collecting taxes,” Nhim said.

Nhim said automobiles and machinery topped the list of sources of customs and excise revenue at 43 percent.

The Kingdom has two institutions responsible for collecting taxes. One is the General Department of Taxation, which focuses on interior taxes such as income tax, salary tax, value-added tax, and property tax.

The other is the General Department of Customs and Excise, which collects taxes on goods entering and leaving the country.

Cambodia collected $1,726 million in tax income in the January-May period this year, a 27.95 percent increase as compared to the same period last year.

Prime Minister Hun Sen said late last month that the government earned nearly $500 million from all sources of taxes in June alone, in line with the increase in domestic demand and imports.

The Prime Minister said that the income was still low compared to the pre-Covid-19 period, which was between $500 million and $700 million monthly. But it was better than the $400 income received from taxes during the Covid-19 period.

The government reopened the borders to vaccinated tourists and resumed socio-economic activities last November after Cambodia had a high rate of vaccinated population.