GDT: Register Unused Land Before End of 2023 to Get Three Tax Incentives

• 21 April 2022
• Local News
• 2756 Views

The General Department of Taxation (GDT) has called on owners of unused land to register their tax obligations before 2023 to get tax incentives.

Tax officials said in the online seminar on 21 April that owners who hold soft titles will get three incentives when coming to register their property for the first time.

First, the tax will be collected only for the latest year of occupation by exempting all the previous years before that. For example, if the property has a history of buying and selling many times, the government collects only on the last year of ownership.

Second, the owner will get an additional 100 million Riels reduction to the tax base.

Third, the government will waive the penalty of all the late payments and others for the first registration.

The tax on unused land is an annual tax collected at a rate of 2%. (Read more)

 

 

• Tax