Chinese investors urged to tap Cambodia’s tax incentives
Chinese investors urged to tap Cambodia’s tax incentives
Cambodia’s General Department of Taxation (GDT) has extended an invitation to Chinese investors to explore opportunities in the Kingdom, highlighting the attractive tax incentives available for eligible projects.
Kong Vibol, GDT Director-General, made the call at the China-Cambodia (Shenzhen) Trade and Business Forum, held recently in Shenzhen city, China, a GDT statement said on Thursday.
The purpose of the event was to promote cooperation in trade and investments and strengthen economic development in both countries and also conduct trade matching between entrepreneurs and investors in the two countries.
The forum provided an excellent platform for Chinese investors to learn more about Cambodia’s economic outlook, investment policies, and the specific tax incentives available for different sectors.
Vibol presented a detailed overview of the various tax benefits and preferential treatments offered to foreign investors, highlighting the favourable economic situation of Cambodia, particularly the country’s potential through multilateral and bilateral trade agreements.
“I invite all business representatives to visit Cambodia to learn about the real situation and favourable factors in Cambodia for investment and avoid misunderstanding through inaccurate and incomplete information,” he said.
The GDT Director General emphasized the country’s commitment to providing a conducive business environment for foreign investors.
At the forum, several Chinese investors also expressed interest in exploring opportunities in Cambodia.
During the visit, the GDT delegation met with some of the major Chinese investors having businesses in Cambodia such as China Airlines and BYD which plans to invest in electric vehicle assembly in the Kingdom.
The delegation also visited Huawei to understand the latest technologies, especially in artificial intelligence and those related to tax revenue management.
The GDT’s outreach to Chinese investors is part of Cambodia’s broader efforts to attract foreign investment and diversify its economy.
By highlighting the benefits of investing in Cambodia, the GDT aims to position the country as a preferred destination for Chinese businesses seeking to expand their global footprint.
According to the Law on Investment of Cambodia, only QIPs are entitled to such tax benefits.
Tax incentives include a tax holiday on profits for up to nine years in some cases. QIPs can also receive a range of other benefits, depending on various factors such as the type and size of the enterprise.
The country has two institutions responsible for collecting taxes. One is the General Department of Taxation (GDT), 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 (GDCE), which collects taxes on goods entering and leaving the country.
