GDT calls for good tax culture in Cambodia

The call was made at the Tax Forum 2023 held on Wednesday at Sofitel Phnom Penh Hotel, where more than 600 enterprise owners and representatives who are members of the Textile, Apparel, Footwear and Travel Goods Association in Cambodia (TAFTAC) participated.

The forum provided updates on the tax law in the wake of the 19th Government-Private Sector Forum held on November 13, 2023. The government had then announced several tax and administrative decisions that can impact the business community, said GDT Director General Kong Vibol at the forum.

The tax forum saw expert speakers from GDT and the private sector presenting in detail the laws, regulations and procedures for taxation in the business sector.

“The forum aimed to raise awareness of laws and regulations on taxation and contribute to the promotion of a good tax culture in Cambodia,” Vibol said, encouraging all stakeholders, especially the private sector to voluntarily participate in strengthening fiscal compliance to avoid penalties.

GDT regularly organises workshops to clarify the most common tax issues that the private sector faces and provides clear answers to the taxpayers, he added.

GFT industry is the largest foreign exchange earner for Cambodia. The sector consists of roughly 1,300 factories and branches, employing approximately 840,000 workers, mostly female.

TAFTAC President Kong Sang also spoke highly of the GDT as it always supports the private sector.

“Today’s forum was attended by a large number of TAFTAC members highlighting the importance of tax issues in business operations. It was also a valuable opportunity for participants to gain new knowledge and experience related to the implementation of fiscal obligations in Cambodia, especially the challenges related to audit work and complaints,” Sang said.

GDT collected $3 billion in taxes in the first ten months of 2023, accounting for 85.8 percent of the budget target.
Modernisation of GDT operations resulted in better registration, improvement in taxpayer services and filing of the tax returns in addition to the expansion of data storing facilities among other things, Vibol said.

Source:Khmer Times