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Cambodia’s tax revenue in first seven months up 40 pct

PHNOM PENH, Aug. 14 (Xinhua) — The Cambodian government had collected 455 million U.S. dollars of tax in the first seven months of this year, a 40-percent increase from 325 million U.S. dollars over the same period last year, according to the figure received from the General Department of Taxation on Tuesday.

The revenues have been collected from tax on profit, withholding tax, tax on salary, VAT (Value Added Tax), special tax on certain merchandises and services, turnover tax, vehicle tax, patent tax, property tax, and so on.

Some critics claimed that the kingdom still has much room to grow in tax revenues if the laws has been firmly enforced because to date, some businesses have still avoided paying taxes.

Speaking in a monthly meeting last week, Sim Ieng, director general of the General Department of Taxation, urged his tax officials to enforce laws in order to collect more revenues for the state coffer.

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Written by Kham

14/08/2012 at 6:39 pm

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