Government Extends Property Tax Payment Deadline to 31 October

• 26 September 2020
• Local News
• 3366 Views

The Cambodian government has decided to extend the property tax payment deadline to 31 October 2020, according to an official notice from the General Department of Taxation (GDT)’s on 25 September.

The deadline was originally set for 30 September. However, since many property owners have yet to pay their tax, the GDT decided to extend the deadline to October.

The notice also stated that those property owners failing to file their tax on time will be punished with additional charge at the rate of 10% of outstanding amount plus the interest of 2% per month.(Read more)

The fine will increase to 25% plus 2% of the interest rate if property owners do not pay their tax within 15 days after receiving a reminder notice.

In August, GDT has announced that the government will start collecting 20% tax on capital gains earned from 01 January 2021. This tax also includes profits earned on property sales. (Read more)

Real estate analysts in response urged the government to postpone the implementation of this new tax given the economic slowdown caused by the COVID-19 pandemic. (Read more)

• Laws and Regulation
• Policy and Strategy