Prey Veng Province Generates US$ 5 Million from Construction Stone Business in 5 Years

• 24 March 2023
• Local News
• 1192 Views

The collection of tax revenue from all types of construction stone businesses in the province has amounted to approximately US$ 5 million in the past five years. The revenue was collected from all kinds of sand and stone processing businesses, totaling around US$ 4.57 million from 2018 to 2022, with US$ 2.19 million collected in 2022 alone, according to HE Chea Somethy, Governor of Prey Veng Province.

The province’s efforts to collect tax revenue and suppress tax evasion resulted in a total of US$ 17.74 million collected. Meanwhile, the provincial tax revenue totaled US$ 29.69 million, with US$ 13 million in national budget revenue and US$ 16.69 million in sub-national revenue.

Governor Somethy also revealed that the One Window Service Office (OWSO) in the province provided a total of 86,643 administrative services to the people, generating US$ 2.02 million in revenue.

The revenue generated from the construction stone business in Prey Veng Province is a testament to the thriving construction industry in Cambodia, and the province’s efficient tax collection efforts are commendable. With the industry’s continuous growth, it is expected that the revenue generated from this sector will continue to increase in the coming years.

• Business and Market
• Investment and Funding