PM: Increased Tax Incomes Reflect Cambodia’s Economic Development in Post COVID-19
Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen said that the income collection from all kind of taxes has exceeded the plan in 2022, reflecting Cambodia’s better economic situation in the post-COVID-19 period.
Addressing to the groundbreaking ceremony for the reconstruction and upgrading of National Roads No. 31 and 33 in Kampot province on Dec. 30, the Premier pointed out that the General Department of Taxation collected over US$3.43 billion as tax income this year, exceeding nearly 122 percent of the yearly plan, while the customs income collected by the General Department of Customs and Excises were recorded at US$2.67 billion, reaching 104 percent of the plan.
The figures did not include the non-tax revenue, underlined Samdech Techo Hun Sen, taking for example the non-tax revenue from visa fees of estimated 2 million foreign tourists, which would be about US$60 million this year.
Samdech Techo Prime Minister stated that the tax revenue will provide an opportunity for the government to invest in building roads and other key infrastructure and to contribute to projects supported by development partners.
Cambodia has two institutions responsible for collecting taxes. One is the the General Department of Taxation, 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, which collects taxes on goods entering and leaving the country.
Source: Agency Kampuchea Press