Monthly Taxes Further Exempted for Tourism-related Businesses
The Royal Government of Cambodia (RGC) has decided to continue to exempt all types of monthly taxes, except VAT, for tourism-related businesses such as hotels, guesthouses and travel agencies which have registered with the General Department of Taxation and have business activities in Siem Reap province.
The exemption will be extended for three more months, from January to March 2023, according to the RGC’s new directive issued early this week.
This additional measure was taken in order to continue managing the impact and supporting the country’s tourism recovery in the current global economic uncertainty, the source explained.
In fact, it stated, the Cambodian economy has been recovering in almost all sectors, including garments, non-garment manufacturing and services. At the same time, business activities in many tourist destinations, including Phnom Penh capital, coastal provinces and some other provinces, have increased significantly thanks to the sharp rise in national tourists, business people and investors.
However, the growth of international tourists may continue to slow down in the short to medium term due to the uncertainty of global economic situation, which continues to put pressure on tourism sector in some destinations that always depends on international tourists, the directive added.
Source: Agency Kampuchea Press