Cambodia Makes US$24 Million from Transfer Tax

Cambodia has collected about US$24 million from tax on transfer of property's owenership, during the first three months of 2019, according to local media report.

The amount accounts for nearly 34 percent of the yearly plan, continued the source using the update from the Ministry of Economy and Finance.

Deputy Director General of Taxation Mr. Heng Sok Nang was quoted as saying that the government's adjustment of property price as basis for tax calculation does not affect the value of tax paid.

Thanks to the on-going reforms, performance of tax collection in Cambodia is improving from year to year.

Source: Agency Kampuchea Press