The General Department of Taxation (GDT) of Cambodia has announced a year-on-year decline of 7.4% in tax revenue for the first half of 2024, as detailed in a press statement released on Thursday.
The GDT has announced that it has collected a total of 1.918 billion US dollars in tax revenue during the January-June period this year. This represents a decrease of 7.4% from 2.072 billion dollars over the same period last year.
"The GDT has achieved 46.06% of the target set in the 2024 budget law," stated GDT Director General Kong Vibol.
According to the statement, The GDT has set a target of collecting a total of 4.164 billion dollars in 2024.
H.E. Aun Pornmoniroth, Minister of Economy and Finance highly value the achievement of the GDT.
“The tax income collection has been made with good performance in the first six months of this year despite difficulties due to risks, uncertainty of the global economy and politics,” he said.
The Kingdom 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, while the other is the General Department of Customs and Excise (GDCE), which collects taxes on goods entering and leaving the country
The GDT is responsible for collecting a range of interior taxes, including those on profits, withholding taxes, taxes on salary, value-added taxes, special taxes on certain merchandise and services, turnover taxes, vehicle taxes, patent taxes and property taxes.
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