General Department of Taxation Achieves Remarkable Revenue Collection of US$2 Billion in H1 2023

• 19 July 2023
• Local News
• 1669 Views

Cambodia’s tax revenue collection for the first half of 2023 has reached an impressive US$2,072 million. Despite a year-on-year decrease of 19 percent, this achievement reflects the department’s commitment to meeting financial targets and supporting the nation’s development, according to the latest report from the General Department of Taxation.

The report highlights that the six-month tax revenue collection accounts for 58 percent of the financial law plan for 2023, showcasing steady progress towards the annual goal. HE Kong Vibol, Minister Delegate to the Prime Minister and Director General of the General Department of Taxation, expressed confidence that the department is on track to surpass its 2023 revenue collection target, aiming for 105 per cent of the plan.

While certain sectors experienced a decline in revenue compared to the same period last year, notable decreases were observed in the beverage industry (nearly 13 percent), the real estate sector (almost 4 percent), and stamp duty on real estate transfers (around 27 percent). Despite these challenges, the General Department of Taxation remains committed to effectively managing tax collection and ensuring compliance across all sectors.

• Economy and Finance
• Taxation