Tax Revenue Was Received Over $1.5 Billion In The First Half Of 2021

Compass Cambodia report, July 22nd - General Department of Taxation (GDT) under the Ministry of Economy and Finance's collected $1.51590 billion in taxes in the first half of 2021, down 10.60 percent from the same period last year.

According to the GDT, this amounts to 67.58 percent of the $2.24307 billion target set by the Law on Financial Management for 2021.

Taxes collected using the online revenue management system totaled $167.61 million last month, or 7.47 percent of the target, according to the report.

In the first 20 days of this month, the agency collected $74.32 million in taxes, according to the department.

The prolonging of the Covid-19 pandemic, exacerbated by the third coronavirus outbreak – termed the "February 20 community incident" because of the date it was first diagnosed – has had a detrimental influence on tax revenue collection management, according to GDT director-general Kong Vibol.

Vibol, on the other hand, said that the implementation of a number of initiatives, online services, and information technology (IT) systems was proactive and well-received in the face of the problems and difficulties surrounding Covid-19, as evidenced by the proportion of goal income attained.

The GDT says it will continue to improve the performance of fiscal administration procedures, policies, and other measures in order to fulfill the 2021 target, with a particular focus on the use of IT systems to manage tax revenue collection.

It claimed it earned tax income of 11.70052 trillion riel ($2.87 billion) last year, up 423.20 billion riel or 3.73 percent from the previous year.

Source: Compass Cambodia comprehensive arrangement

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