Phnom Penh Records Over US$320m Tax Revenue in 2022, Property Tax Contributes Over US$26m

• 12 March 2023
• Property Focus
• 1833 Views

The total tax revenue in Phnom Penh exceeded expectations, reaching over 1,298 trillion Riels, equivalent to more than US$320 million, or 115.46% of the plan, according to the 2022 annual report on the performance of the Phnom Penh Capital Administration. 

The report also revealed that property tax contributed significantly to the total revenue, with 108.83 billion Riels, equivalent to more than US$26 million. 

Moreover, the unused land tax contributed 7,398 billion Riels, while real estate and real estate tax revenue was 265.87 billion Riels, and stamp duty amounted to 504.74 billion Riels.  

In 2022, the revenue from customs and excise also showed an impressive increase of 44.86%, amounting to 80.13 billion Riels or more than US$19.79 million compared to the previous year.  

The impressive tax revenue collection in Phnom Penh for 2022 is a testament to the government’s efforts to strengthen the country’s tax system and economic growth. The government collected a total tax revenue of US$3,455.11 million, equivalent to 122.54% of the financial law. (Read more)

In addition, the General Department of Customs and Excise of Cambodia also recorded an increase of 18.3% in customs revenue, amounting to 10,998.9 billion Riels or about US$2,690.5 million.  (Read more)

Overall, the impressive tax revenue collection in Phnom Penh and Cambodia’s customs revenue growth demonstrate the government’s commitment to fiscal responsibility and economic development, providing a positive outlook for the country’s economic future. 

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