Cambodia Collects US$1,726 Million as Tax in First Five Months

AKP Phnom Penh– Cambodia collected US$1,726 million as tax income in the January-May period this year, a 27.95 percent increase compared to the same period last year, according to General Department of Taxation (GDT)’s press release issued on Tuesday.

The figure represents 61.25 percent of the target in 2022, it added.

GDT Director General H.E. Kong Vibol attributed the increase of tax income collection to the constant reforms in the tax sector.

In May alone, continued the press release, some US$255 million were collected as tax revenue, a year-on-year increase of 19 percent.

The government targets US$2,819.94 million tax income this year.

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 (GDCE), which collects taxes on goods entering and leaving the country.

Last year, the GDT collected US$2,781 million as tax income, 124 percent over the target.

Source: Agency Kampuchea Press