Tax collection Deep tax reform to be in effect
Tax collection Deep tax reform to be in effect
The General Department of Taxation collected more than $1.69 billion in revenue in the first nine months this year – an increase of more than $252 million from the same period last year – the department’s figures released on Thursday said.
The department’s report showed it collected more than $188 million in September alone, which is an increase of $55 million from the same month last year.
Its director Kong Vibol urged the relevant parties to increase tax collection in order to reach the government’s target.
“In order to achieve the plan [for this year], the department will continue to effectively implement the government’s deep tax reform,” he said, adding that it is preparing to adjust property prices chiefly in consideration of registration taxes.
Vibol said the department expects to collect more than $1.92 billion this year.
However, the plan is slightly lower than last year, when it collected $1.93 billion in tax revenue, which was a 30 per cent increase over 2016.
