Compass Real Estate > Cambodia Real Estate Information > Morning Headline > Cambodia collects $3.26 billion in tax revenue in H1, up 22 percent

Cambodia collects $3.26 billion in tax revenue in H1, up 22 percent

2022-07-21
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Summary:​Cambodia collected $3.26 billion from all sources of taxes in the first half of 2022, up 22 percent from 2.67 billion dollars over the same period last year.

Compass Cambodia report - Cambodia collected $3.26 billion from all sources of taxes in the first half of 2022, up 22 percent from 2.67 billion dollars over the same period last year.

The Southeast Asian country has two institutions responsible for collecting taxes.

One is the General Department of Taxation (GDT), which focuses on interior taxes such as income tax, salary tax, value added tax, and property tax, and the other is the General Department of Customs and Excise (GDCE), which collects taxes on goods entering and leaving the country.

GDT’s director-general Kong Vibol said in the statement that the GDT earned $1.97 billion in tax revenue during the January-June period this year, up 29.8 percent year-on-year.

“We had achieved 69.89 percent of the target for 2022,” he said.

Meanwhile, GDCE’s director-general Kun Nhim said the GDCE made $1.29 billion in customs and excise revenue during the first half of this year, up 11 percent year-on-year.

The GDCE had achieved 50 percent of the target for this year.

“Customs and excise revenue has recovered after the government has reopened the country in all areas since November 2021, after most of the population have been vaccinated against the COVID-19,” he said. 

Source: Xinhua

Compass global site: Cambodia | Singapore | UAE | Thailand | Philippines | Myanmar | Laos

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