2024-2025 Annual Tax, Accounting, Labor, and Regulatory Compliance Reminders Nov 8, 2024 Other legal Update Taxpayers must ensure to full compliance with its obligations to avoid any risks, and hefty penalties imposed by the concerned government agency and/or regulators... Read more
New Transfer Pricing Prakas Explained Oct 25, 2024 Tax Update Key Takeaways: Prakas 574 dated 19 September 2024 relaxes the previous transfer pricing documentation (TPD) requirements under Prakas 986 in addition to providing new definitions and procedures. Praka... Prakas Read more
Extension of Incentives for Voluntary Amendment of Tax Declarations Oct 20, 2024 Tax Update The Ministry of Economy and Finance issued new Prakas No. 625 MEF.Prk, date 10 Oct 2024 to amend and extend the tax period covered by the tax relief on administrative penalties, including the additio... Prakas Read more
Real Estate Tax Incentives Clarified and Extended Oct 20, 2024 Tax Update Key Takeaways: Instruction 014 MEF.N, Prakas 576, and Prakas 573 issued in September and October 2024 clarify the implementation, incentives and exemptions for Tax on Immovable Property, Unused Land T... Instruction Tax Incentive Read more
Taxation of Lease clarified Sep 30, 2024 Tax Update Key takeaways: Instruction 33000 was issued and came into effect from 18 September 2024. A lease agreement may contain a period of time where lease payments are not paid due to construction, design, r... Instruction Read more
Rules pertaining to E-Commerce clarified for Bank Aug 30, 2024 Tax Update Letter No. 29613, issued by the General Department of Taxation (GDT) in August 2024, provides important clarifications regarding the application of the e-commerce reverse charge obligation for financi... Notification Read more
Tax on Income (ToI) Incentives for Expanded Qualified Investment Projects (EQIPs) May 31, 2024 Tax Update (Prakas No. 313 MEF.Prk.GDT, dated 10 May 2024) Pursuant to Article 16 of Sub-Decree 139, dated 26 June 2023, implementing the 2021 Law on Investment (LoI), this Prakas is issued by the Ministry of Ec... Prakas Tax Incentive Read more
Measures to Reduce Requirements for the Use of Khmer Language in Accounting Records and Accounting Supporting Documents May 30, 2024 ACAR Update (Notification no. 031/24 ACAR, dated 15 May 2024) The Accounting and Auditing Regulator (ACAR) issued a Notification to provide incentives for enterprises and non-profit organizations to reduce their ... Notification Read more
General Department of Taxation and Private Sector Engage in Productive Dialogue on Tax Issues During May 2024 Meeting May 9, 2024 Tax Update In a comprehensive meeting held on May 13, 2024, the General Department of Taxation (GDT) and representatives of the private sector gathered to address a range of tax-related issues. The meeting, cond... Read more
The Establishment of a Special Tax Audit Unit May 9, 2024 Tax Update (Sub-Decree No. 160 ANK.BK, dated 16 July 2024) The Royal Government of Cambodia established a Special Tax Audit Unit (“STAU”), which has an equivalent status to a department managed by the General De... Sub Degree Read more
Tax Incentives for the Education Sector Mar 31, 2024 Tax Update (Prakas No. 172 MEF.Prk.GDT, dated 20 March 2024) Effective from 1 January 2024, this Prakas by the MoEF clarifies the tax incentives provided to the education sector in Cambodia until the end of 2028... Tax Incentive Read more
Value-Added Tax (VAT) Sub-Decree Mar 31, 2024 Tax Update (Sub-Decree No. 49 SD.Prk, dated 11 March 2024) Effective from 11 March 2024, this new Sub-decree on VAT shall cover the rules and procedures on the implementation and collection of VAT on supply of t... Sub Degree Read more