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Revenue collection Cambodia collects over $1.87B in tax

The General Department of Taxation (GDT) collected more than $1.87 billion in revenue during the first 10 months of the year, an increase of almost 19 per cent compared to the same period last year, the department’s report said.

The report released this week shows that tax revenue collection in the first 10 months of 2018 increased by $296.98 million from more than $1.57 billion – an 18.88 per cent rise, equal to 97.42 per cent of the annual plan.

The report showed that in October alone, all tax revenues collected amounted to around $182.12 million.

Affiliated Network for Social Accountability president San Chey said the growth of tax revenue collection is still low and does not reflect the high growth of sales and leases of property and real estate, such as hotels. He said the gaps between the tax on salary and profits is still large.

“The growth of more than 18 per cent in tax collection is still low compared to the current increase in buying, selling, and leasing of real estate,” he said.

phnompenh post

 

 

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Revenue collection Cambodia collects over $1.87B in tax

The General Department of Taxation (GDT) collected more than $1.87 billion in revenue during the first 10 months of the year, an increase of almost 19 per cent compared to the same period last year, the department’s report said.

The report released this week shows that tax revenue collection in the first 10 months of 2018 increased by $296.98 million from more than $1.57 billion – an 18.88 per cent rise, equal to 97.42 per cent of the annual plan.

The report showed that in October alone, all tax revenues collected amounted to around $182.12 million.

Affiliated Network for Social Accountability president San Chey said the growth of tax revenue collection is still low and does not reflect the high growth of sales and leases of property and real estate, such as hotels. He said the gaps between the tax on salary and profits is still large.

“The growth of more than 18 per cent in tax collection is still low compared to the current increase in buying, selling, and leasing of real estate,” he said.

phnompenh post

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