Footwear Association hosts seminar on income tax updates

Footwear Association hosts seminar on income tax updates

The Cambodian Footwear Association (CFA) partnered with the General Department of Taxation (GDT) on Saturday to host a seminar on income tax and recent legal updates.

Chaired by GDT deputy directors Trang Lai and Chhay Cheaheng, the event attracted 70 association members attending both in person and online. The session concentrated on Tax on Income (TOI) obligations and the compulsory filing of returns within three months of the tax year’s end.

Trang Lai outlined various tax incentives, including those under the Investment Law and specific provisions for the textile and garment sectors. He said special investment promotion programmes for Preah Sihanouk province (2024–2027) and the Northeast Region (2025–2028).

Addressing regulatory changes, Chhay Cheaheng outlined updates regarding withholding tax exemptions on royalties and interest for self-declaration taxpayers. He also discussed the suspension of income tax relief for garment enterprises and clarified obligations concerning capital gains tax, board member taxation, and share premiums.

Further instructions were provided on Value Added Tax incentive procedures, the classification of long-term assets such as computer software, and the proper documentation of related-party interest. The CFA stated the seminar aims to ensure industry compliance with evolving Cambodian tax laws.

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