Thailand
Cambodia: Tax collection surges 28 percent to $1,726 million
Cambodia collected $1,726 million in tax income in the January-May period this year, a 27.95% increase as compared to the same period last year, according to an official statement yesterday.
In the statement, General Department of Taxation director-general Kong Vibol attributed the increase in tax income collection to the constant reforms in the tax sector.
“We have achieved 61.25% of the target for 2022,” Vibol said.
In May alone, the General Department of Taxation (GDT) collected $255 million in tax income, representing 7.98% of its target in 2022, the statement said.
The government targets $2,819.94 million as tax income this year.
The kingdom 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.
The other is the General Department of Customs and Excise (GDCE), which collects taxes on goods entering and leaving the country.
Prime Minister Hun Sen said recently that the incomes from all sources of taxes have increased, reflecting the recovery in internal socio-economic activities after the pandemic.
Last year, the Minister of Economy and Finance’s General Department of Taxation collected 11.402100 trillion riels (approximately $2.781 billion) in tax income, 24 percent more than the target.
Source: https://www.khmertimeskh.com/501094545/tax-collection-surges-28-percent-to-1726-million/