Real estate transactions in Cambodia remain strong

• 1 October 2019
• Local News
• 2358 Views

Real estate transactions in Cambodia remaining strong is best reflected by the sharp rise in property tax, according to industry expert Sorn Seap.

The General Department of Taxation (GDT) has recently collected US$1,952 million in tax revenue, of which the tax on stamp duty increased by 60.18% compared to the same period last year. (Read More)

Mr Sorn Seap, founder of real estate firm Key Real Estate and an acknowledged real estate expert said, “Increasing stamp duty tax shows a massive buying and selling and it is also a good sign that the real estate industry is very active”.

He added that the increase in tax revenue also reflects the growing awareness of people on real estate transactions in Cambodia, and especially in developing areas, where people can make profit or investment to serve their businesses.

In addition, this increase came as the Cambodian government introduced a new tax base for stamp duty aimed at increasing tax revenue and in line with the Cambodia’s real estate development. (Read More)

 

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