GDT Extends One-Time Stamp Duty Tax Policy Until 2023

The General Tax Department (GDT) has decided to extend the policy of allowing property owners to pay only a one-time stamp duty tax for any properties with a record of multiple transfers before 2017.

The extension will last until 31 December 2023, according to letter No. 22267 dated 31 December 2021 of the General Department of Taxation (GDT).

The one-time stamp duty tax applies to only two cases:

-Unregistered property (soft title) with a record of multiple transfers. Owner must pay only a one-time stamp duty on their latest transfer or during the first time of their property registration

-Registered property (hard title) with a record of multiple transfers at Commune, Sangkat, Municipality, District, or Khan made before 2017. The owner must pay only a one-time stamp duty on their latest transfer.

From 2024 onwards, the one-time stamp duty tax will end and those properties with a record of multiple transfers must pay stamp duty taxes on all recorded transfers.

- Video Advertisement -

Related Post

Cambodian Gov’t Extends Stamp Duty Exemption on Homes Up to USD 70,000 Until the End of 2025

The Ministry of Economy and Finance has announced an extension of the stamp duty exemption for the transfer of ownership or possession of all types of Borey housing valued at USD 70,000 or less, continuing this benefit until the end of 2025. This initiative aims to stimulate the real estate market by offering substantial tax […]

Tycoon Ly Yong Phat’s Hydropower Company Suspended for Environmental Violations in Pursat and Koh Kong

The Ministry of Environment has temporarily suspended all activities of Stung Meteuk Hydropower, a company owned by Tycoon Ly Yong Phat, in Pursat and Koh Kong provinces due to multiple environmental violations and non-compliance with legal requirements. The suspension was confirmed in a letter from the Ministry, dated 2 September 2024. The decision stems from […]

South Korea’s Mugungwha Trust Targets Investment in Cambodia’s Expanding Trust Sector

Mugungwha Trust Co., Ltd., a leading South Korean trust company, has announced plans to invest in Cambodia’s trust sector, aiming to contribute to the country’s economic growth and sector expansion. The company’s President, Mr. Oh Chang-seok, expressed this commitment during a meeting with Samdech Techo Hun Sen on 10 September 2024 in Seoul, Republic of […]

GDT Sets Property Tax Deadline for 30 September 2024

The General Department of Taxation (GDT) has reminded all property owners to fulfil their property and land tax obligations by 30 September 2024. The announcement, made on 31 July 2024, , emphasises the critical importance of meeting this deadline to ensure a smooth tax collection process. To facilitate efficient tax payments, the GDT encourages property […]

Cambodian Senate Approves Landmark Air Transport Law to Boost Aviation Sector

In a significant move to bolster Cambodia’s aviation industry, the Senate has unanimously approved the draft law on international air transport. The approval, achieved with 56 out of 56 votes during the extraordinary session of the Senate of the 5th legislature, was held under the chairmanship of Samdech Techo Hun Sen on 31 July 2024. […]

The Gov’t Establishes Special Task Force to Expedite Tax Audits

In a decisive move to enhance the business and investment environment, the Cambodian government has established a special tax audit unit under the General Department of Taxation of the Ministry of Economy and Finance. This unit aims to expedite the resolution of tax audit issues and ensure compliance with existing laws and regulations. The decision […]