Good News! Gov't decided to postpone capital gains tax until January of 2022

Samdech Techo Hun Sen, Prime Minister of Cambodia, has agreed to postpone the collection of capital gains tax for another year until January 1, 2022.

According to an announcement of the General Department of Taxation dated October 22, 2020, the General Department of Taxation stated that "the Royal Government has decided to extend the deadline for the implementation of the capital gains tax until the end of 2021 to provide enough time for all taxpayers and the public to better understand the provisions on capital gains tax, as well as to be ready to participate in the implementation of this capital gains tax smoothly and efficiently from January 1, 2022 onwards."

It is worth to noting that on April 1, 2020, Ministry of Economic and Finance has issued an announcement about capital gain tax which means all taxpayers both resident and non-resident are subject to CGT at the rate of 20% on their gains from the sale or transfer of capital. The term “capital” includes immovable property, finance lease, investment asset, goodwill, intellectual property, and foreign currency. 

Author/Nea
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