GDT Officially Postpones Capital Gains Tax Collection to 2024

• 10 March 2022
• Local News
• 3951 Views

The General Department of Taxation (GDT) has issued an official statement announcing the postpone of capital gains tax collection for another two years after receiving approval from PM Samdech Hun Sen earlier this year.

The implementation of the capital gains tax will start on 1 January 2024, instead of 2022 to help boost economic growth and recovery in the context of COVID-19.

The implementation date of the capital gains tax has been extended once already from 2021 to 2022.

Capital gains refer to taxable income from the sale or transfer of capital deducted with occurred expenses. Capital refers to real estate, leasing, investment capital, business reputation, intellectual property, and foreign currencies.

The capital gains tax rate is to be set at a fixed rate of 20%. Meanwhile, taxpayers are allowed to choose one of two capital calculation methods. (Read more)

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