GDT Achieves Strong Revenue Collection of US$2.3B in First Seven Months of 2023

• 21 August 2023
• Local News
• 1228 Views

The General Department of Taxation (GDT) has marked an impressive milestone in revenue collection for the first seven months of 2023. With approximately US$2,312.95 million collected through the innovative online revenue data management system, the GDT has achieved 64.76% of the Law on Financial Management for 2023. This accomplishment, however, reflects a 21.12% decrease compared to the corresponding period in 2022.

Data released from the GDT on 16 August 2023 revealed that the revenue decreased in the impacted sectors including beverage manufacturing (down by 11.16%), real estate (reduced by 6.77%), and construction (with a dip of 2.44%). Additionally, the stamp duty on the transfer of ownership or possession of real estate also experienced a decrease of 26.56%.

However, GDT is actively reinforcing the collection of tax revenue from e-commerce transactions. In July 2023 alone, the revenue from this sector amounted to 27.58 billion riels (approximately US$6.81 million), contributing to a cumulative 186.79 billion riels (approximately US$46.12 million) in revenue for the first seven months of 2023.

• Economy and Finance