Thailand
Cambodia: PM appreciates GDT for increased tax collection
Prime Minister Hun Sen lauded the General Department of Taxation (GDT) for its efforts in collecting tax revenue that exceeded the budget plan in 2022, adding that the increased tax revenue contributed to the national economic development.
The Prime Minister made the remarks during his message to GDT general director Kong Vibol.
According to a GDT statement on Tuesday, the Prime Minister said that the tax revenue collection exceeded the target plan, reaching the highest surplus of all time accounting for 22.54 percent, which is equivalent to 2 574.07 billion riels or approximately $635.57 million.
He expressed his sincere appreciation and congratulated the GDT of the Ministry of Economy and Finance for the tremendous efforts and successful tax revenue collection at 122.54 percent of the target set by the Financial Law 2022.
It was indeed a new milestone for Cambodia and its people during such difficult times due to the Covid-19 pandemic, global geo-political tensions, the Russian-Ukraine war, the imposition of tough foreign policies by a number of the world’s leading countries and the domino effect of the uncontrollable rise in the inflation rate, the premier said.
“This great accomplishment has played a vital role in supporting the national economic development and the livelihood of our Cambodian people during an unprecedented global economic crisis and uncertainties,” the Prime Minister said.
The premier also spoke highly of a competent and effective leadership style in the leadership and management of the GDT, conducting in accordance with the principles of Good Governance and Good Administration, as well as creative and innovative capability in initiating and implementing numerous successful measures for effective revenue collection.
This is reflected in the way the GDT has consistently and proactively driven the digitalization of Cambodia’s tax systems, such as the introduction of the E-Filing system and other technologically advanced systems and applications, he added.
Such a successful transformation to modernize GDT is regarded as a role model of how effective and in-depth reform should be carried out by other government institutions.
Cambodia has two institutions responsible for collecting taxes.
One is the GDT, which focuses on interior taxes such as income tax, salary tax, value-added tax, and property tax, and the other is the General Department of Customs and Excise (GDCE), which collects taxes on goods entering and leaving the country.
The increase in tax revenue collection was due to the tax system reforms, including the provision of services to taxpayers and good registration services, good audits, debt management and resolving issues to make it easier for taxpayers to pay their taxes, said Vibol.
“After Cambodia recovered from Covid-19 and reopened its socio-economic activities, the import and export activities also improved,” he said recently.
Last year, the GDCE collected around $2,690 million in customs revenues in 2022, exceeding 104.94 percent of the budget plan.
Source: https://www.khmertimeskh.com/501230997/pm-appreciates-gdt-for-increased-tax-collection/