Thailand
Cambodia: Tax collection exceeds $2.56 billion for first 11 months
The General Department of Taxation collected $2.56 billion in tax revenue between January to November this year, exceeding the 2021 targeted plan. Officials and key insiders said the exceeding revenue in the tax sector reflected the government’s efforts on efficient tax collection and the business recovery in the country.
The figures were shared in the monthly meeting of the General Department of Taxation of the Ministry of Economy and Finance, chaired by its director-general Kong Vibol.
The tax income for the eleven months exceeded the plan set for a whole year of 2021 by 14.13 percent
In November alone, the GDT earned $244 million, a 5.24 percent increase compared to November last year.
Bringing the COVID-19 situation under control, which in turn led to the reopening of the economic and social activities, are the factors behind the tax income performance, Vibol said in the meeting.
“Particularly, fully and effectively manage the COVID-19 situation by taking strategic measures to vaccinate the Cambodian people in a proactive and timely manner, built resilient communities to the pandemic and led to the nation’s economic recovery,” Vibol said.
Increasing tax income showed that economic activities in Cambodia have run as normal in the light of Covid-19 pandemic, Lim Heng, vice president of the Cambodia Chamber of Commerce, said on Tuesday.
“The tax income increase is a good sign in the context of the virus pandemic, reflecting the good move. At the same time, as the government reopened the country fully, I believe the tax income will continue to increase for the next months or next year,” Heng said.
It also showed the efficiency of tax income collection by the government and the level playing field in the business sector, Heng said.
In 2020, total collected tax income was $2.889 billion, 101 percent of what was planned.
Source: https://www.khmertimeskh.com/50988560/tax-collection-exceeds-2-56-billion-for-first-11-months/