Tax collections rise in 2020 despite COVID-19 pandemic

Tax Department statistics showed a modest 4 percent rise in revenue last year, but experts say the pandemic would affect this year’s tax collection. Panha Chhorpoan

Cambodia continued to increase its tax collections in 2020, with revenues rising a modest 4 percent, on account of strong business activity in 2019, a trend that could falter in 2021 due to the COVID-19 pandemic last year.

Additional tax cuts on input products to encourage small businesses

The Cambodian government will reduce import taxes on input materials for food processing and machinery products starting January 1 next year. Panha Chhorpoan

In a bid to bolster the economy and consumption, the Cambodian government has reduced import taxes on products used in the manufacturing industry and to support the country’s small and medium enterprises, which have been worst hit by the COVID-19 pandemic.