The Government Continues Tax Incentives for Tourism Enterprises in Siem Reap Province

On October 16, 2024, the Ministry of Economy and Finance issued a Prakas on “Tax Incentives for Tourism Enterprises in Siem Reap Province.”

This Prakas aims to provide tax incentives to tourism enterprises in Siem Reap province in accordance with the Royal Government's intervention measures to help restore the tourism sector.

This Prakas applies to enterprises in the tourism sector, including hotels, guesthouses, restaurants, and travel agencies that are tax-registered and have business activities in Siem Reap province.

Enterprises in the tourism sector located in Siem Reap province must receive the following tax incentives:

1. Exemption from the payment of all types of monthly taxes except VAT and accommodation tax from July 2024 until the end of June 2025.

2. Exemption from tax on income for the year 2024. For the prepayment on income tax paid by the enterprise, it will be allowed as a tax credit for deduction with the tax on income in  2025.

3. Not subject to tax audit for the period of 2024.

During the period of tax incentives as stated in Article 3 of this Prakas, the enterprise still has the following obligations:

1. Medium and large taxpayers must file tax returns using the e-Filing for Web Application (e-Filing) every month and must file annual income tax returns using the Tax on Income - ToI e-Filing (Tol e-Filing) in accordance with the laws and regulations on taxation. Separately, small taxpayers have to submit tax returns in the form, time, and place specified by the tax administration, or can file tax returns through the GDT Tax Prefiling App.

2. The taxpayer shall keep records and maintain accounting documents and information related to business activities in accordance with the laws and legal documents on taxation.