Properties Just Registered or Updated Before the End of June Will Receive a Tax Penalty Waiver

The General Department of Taxation has announced that owners of unregistered and updated immovable properties have the opportunity to get waivers from administrative penalties, including additional taxes and interest, if they register or update property information before the end of June this year.

According to GDT News Letter No. 56, published on April 25, 2024, property owners must register or update property information at the General Department of Taxation or Tax Branches.

For immovable property that has been repeatedly transferred or occupied, the property tax will be given a tax exemption from the time that the last owner received the right to occupy the property, but the property owner must hurry to register the property before the end of June 2024.

Please note that the property tax is an annual tax that is declared and paid from January 1 to September 30 every year. This tax is collected on immovable properties (land and/or construction) located in Phnom Penh and in all cities of the provinces, with a price starting at 100 million Riels (or approximately $25,000).