Stamp Duty Exemption Costs the Gov’t Nearly US$2 Million in Revenue

Over the period spanning from February 25, 2020, to May 2023, the General Department of Taxation (GDT) has granted stamp duty exemption on the transfer of ownership or possession of immovable properties. According to the GDT’s weekly newsletter published on June 29, a total of 1,022 documents were exempted, resulting in a cumulative tax amount of KHR 7.99 billion, equivalent to nearly US$2 million.

The GDT emphasizes the importance of accurate sales contracts based on the actual market value for all housing development companies.

“In cases where purchase prices are reduced below the market value, the GDT, under the Ministry of Economy and Finance, will conduct reviews to ensure compliance.” said the GDT representative.

To further promote affordable housing, the Cambodian government has made the decision to extend the exemption of stamp duty tax on the transfer of ownership or possession of real estate for all types of homes valued at US$70,000 or less until the end of 2024. This initiative aims to encourage individuals to invest in affordable housing options.

While the stamp duty exemption serves as a key measure to facilitate affordable housing, the impact on government revenue cannot be overlooked. As the government continues to prioritize housing accessibility, striking a balance between incentivizing homeownership and maintaining fiscal stability remains a crucial task.

- Video Advertisement -

Related Post

Government Proposes Enhancements to Phnom Penh-Sihanoukville Expressway Aesthetics and Safety

In a significant effort to enhance the visual appeal and safety of the Phnom Penh-Sihanoukville Expressway, the Concession Agreement Management Committee convened discussions on June 2, 2025, featuring representatives from the Ministry of Public Works and Transport, the Ministry of Economy and Finance, and various industry experts. The meeting focused on five key proposals aimed […]

World Bank Lowers Cambodia’s Economic Growth Forecast to 4% for 2025 Amid Global Challenges

In a pivotal update on Cambodia’s economic landscape, the World Bank has downgraded its growth forecast for 2025 from a promising 5.5% to a more tempered 4%. This revision, announced on June 11, reflects a broader pattern acknowledged by both the Cambodian government and the ASEAN+3 Macroeconomic Research Office (AMRO), as they pinpoint similar trends […]

France and the EU Committed to Enhancing Cambodia’s Water Sector

France and the European Union have reaffirmed their dedication to supporting the development of Cambodia’s water sector, with France planning to allocate a substantial €275 million in funding for the years 2025 to 2027. This commitment was announced by Ms. Sandrine Boucher, the Country Director of the French Development Agency (AFD), during a meeting with […]

Cambodia’s Agriculture Sector Set to Boost GDP Significantly by 2024

In a promising outlook for the Cambodian economy, the agriculture sector is projected to contribute nearly 17% to the country’s gross domestic product (GDP) by 2024, amounting to an impressive USD 7.82 billion. This information was unveiled in a recent press release following a meeting of the National Assembly and Senate on agriculture held on […]

National Road 7 Expansion Project Progress Report: 56% Complete

The expansion and upgrade of National Road 7, stretching from Skun Roundabout to Kizuna Bridge, has reached an impressive 56% completion, as announced by His Excellency Un Chanda, Governor of the Kampong Cham Provincial Government, during a recent Provincial Council meeting. The Governor provided a comprehensive overview of the project’s progress, highlighting notable advancements in […]

Henan Province in China Seeks Investment Opportunities in Cambodia’s Agro-Industrial Sector

In a significant development for Cambodia’s agricultural landscape, officials from Henan Province, China, known for its substantial market potential with a population exceeding 100 million, have expressed their intention to invest in the agro-industrial processing sector in Cambodia. During a meeting on May 28, 2025, His Excellency Lim Lokpiseth, Secretary of State for Commerce, met […]