MEF Requests to Postpones Capital Gains Tax Collection to 2024

• 25 January 2022
• Local News
• 2244 Views

The Ministry of Economy and Finance has submitted a request to the Prime Minister Samdech Hun Sen to extend the implementation of the capital gains tax for another two years until 2024.

HE Nop Sothonvichet, Ministry of Economy and Finance’s spokesman, said on 24 January that the request is to participate in the implementation of strategic frameworks and rehabilitation programs and to stimulate Cambodia’s economic growth in the context of COVID-19.

In fact, the implementation of the capital gains tax would take effect on 1 January 2022, after the tax has been extended for one year.(Read more)

With the request for a new extension, an implementation may extend for another two years, starting on 1 January 2024.

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)