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ខ្មែរ Local News
GDT to Initiate Capital Gains Tax Collection from January 2021
- 29 August 2020
The General Department of Taxation (GDT) of the Ministry of Economy and Finance will collect tax on capital gains from 01 January 2021, after delaying implementation since July 2020. According to the Prakas of the Ministry of Economy and Finance, capital gains refers to taxable income from the sale or transfer of capital deducted with occurred expenses. Capital refers to real estate, leasing...
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CVEA President Chosen to Lead ASEAN Valuers Association Next Term
- 27 August 2020
The Cambodia Valuers and Estate Agents Association (CVEA) President Chrek Soknim has been chosen to be the next president of the ASEAN Valuers Association (AVA). Cambodia is also honoured to also be hosting the AVA congress meeting next year. Mr Chrek told Construction & Property Magazine that he and all the CVEA members are very proud to receive this responsibility and pledged to do their ...
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Chip Mong Land Launches New Villa at the Landmark 60m Project with 8% Discount
- 27 August 2020
Chip Mong Land has launched several new villa models at the Landmark 60m project with a discount of up to 8%. The launching ceremony will be held on 29-30 August 29 at the sales office of the Landmark project. Those new models include Villa King, Villa Queen II, Villa Queen B II; and the launch of these models is in response to the demand and support from homeowners, in particular from the Gran...
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Ratanakkiri to Include Nine Areas for Provincial Ecotourism
- 24 August 2020
Photo: Lake Lomkot Ratanakkiri Tourism Department Director Nget Pitu recently said that the authority will transform five existing resorts and four new ones into provincial ecotourism sites after the COVID-19 pandemic. According to RNK News, those five existing resorts are Rattanak Resort, Khmer Village Resort, Malis Kaknika Resort, Paradise Resort and Phum Yerng Resort. Meanwhile, the fo...
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How to avoid disputes in property sale and purchase transaction
- 14 August 2020
The real estate sector in Cambodia is growing steadily. The Cambodian government has thus far closely monitored and issued regulations to ensure that all types of land transactions being done legally. Despite the government’s attempt, there are still some loopholes which leads to disputes while making sale and purchase transaction of the property. Therefore, to avoid disputes, buyers should unders...
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Expert: Potential in Kampot Property Market Amid Rise in Domestic Tourism
- 11 August 2020
Despite the COVID-19 crisis, Kampot has become a province with significant property investment potential, as domestic tourism is rising, according to a local real estate expert. President of KW Cambodia Dr. Kim Heang told Construction & Property Magazine on 11 August that compared to other coastal provinces, Kampot has the most tourist flow due to its shorter distance from Phnom Penh. "T...
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Tax on Unused Land in Cambodia
- 10 August 2020
In Cambodia, some properties are taxable, while others are not. Among them, unused land is considered taxable, although tax payments on properties are not, all the same, depending on the type, size, and location of the property. For instance, the tax base of unused land is not the same as the tax base of immovable property, as stated in Article 13 of the Finance Law in 2010, which refers to land, ...
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What Type of Land Developments Must be Approved by the Competent Authorities?
- 5 August 2020
The land is a type of immovable property that has great potential in the real estate business and many services in Cambodia, especially in the metropolitan and development areas which have recently been booming. Land development is defined as an activity of land organisation by changing the type of land use, changing land use functions, integrating parcels, compacting land parcels, changing the...
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Chip Mong Land Launches New Location of Grand Phnom Penh with 7% discount
- 30 July 2020
Chip Mong Land has launched the new location of Grand Phnom Penh City with a discount of up to 7% discount for buyers making transactions on 1-2 August. According to Chip Mong Land, the launch of this new location in Grand Phnom Penh City is in response to the demand and support from homeowners, particularly in relation to the design. This new location will be even more convenient, as Phnom ...
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Over 500 Inter-ministerial Officials Reconfiguring Land Use in Mondulkiri
- 29 July 2020
A total of 550 inter-ministerial officials from the Ministry of Land Management, Urban Planning and Construction (MLMUPC), the Ministry of Agriculture, Forestry and Fisheries, and the Ministry of Environment, are in the field measuring and reconfiguring land uses in Mondulkiri province, according to a MLMUPC’s press release on 28 July. The team is using the satellite data acquisition device...
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