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ខ្មែរ Property Focus
Stamp Duty Tax Exemption for Property Worth Under US$70,000 Extended to End of 2022
- 28 April 2022
The government has decided to extend stamp duty tax exemption for property worth equal to or under US$70,000 till the end of 2022. The stamp duty tax exemption for houses and condos worth equal to or under US$70,000 will be continued to the end of 2022, as part of the government’s measures to boost economic recovery from the COVID-19 pandemic. According to the statement issued by the General...
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GDT to Send Property Tax Bills to Taxpayers’ Homes Annually to Encourage On-Time Payment
- 27 April 2022
The General Department of Taxation (GDT) is planning to issue annual property tax invoices, just like water and electricity bills, and send them to taxpayers’ homes, to increase the efficiency of property tax collection. The remarks were made by HE Kong Vibol, GDT Director-General on 26 April 2022. "We are advising the units under GDT to issue the property bills and send them to each taxpaye...
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Tax Obligations for Condos Under Construction
- 21 April 2022
During the COVID-19 pandemic crisis, construction on many condo projects was delayed or suspended. Are these under-construction condo projects subject to property tax? According to officials from the General Department of Taxation (GDT) during the Q&A Facebook live session on 21 April, whether or not the condo project is subject to tax depends on two conditions. By law, condos, or any co...
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GDT: Register Unused Land Before End of 2023 to Get Three Tax Incentives
- 21 April 2022
The General Department of Taxation (GDT) has called on owners of unused land to register their tax obligations before 2023 to get tax incentives. Tax officials said in the online seminar on 21 April that owners who hold soft titles will get three incentives when coming to register their property for the first time. First, the tax will be collected only for the latest year of occupation by ex...
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Revenue From Stamp Duty Tax in Q1 at US$55.7 million, Up By 35% Y-o-Y
- 21 April 2022
Revenue from stamp duty tax on property transfers was recorded at approximately US$55.7 million in Q1 of 2022, an increase of 35% compared to the same period last year. The figure was presented at a monthly meeting chaired by HE Kong Vibol, Director General of the General Department of Taxation (GDT), on 19 April. During the first quarter, GDT collected a total of approximately US$1.2 billio...
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Eyes Back on Phnom Penh’s Property Market
- 19 April 2022
By Eric Wong Chon Lap While many business sectors in Cambodia struggle to keep afloat from the current COVID-19 wave, property buyers are expanding their portfolios. As all businesses reopened and restrictions lifted, more attention has been drawn back to the Cambodian property market as investors demand first or second homes. With the government’s policies supporting property purchases in t...
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Iron & Steel Imports Value in Q1 at US$84 million, 3.5% Y-o-Y Increase
- 18 April 2022
The value of steel and steel imports in Q1 2022 was US$84 million, an increase of 3.5% compared to the same period last year, according to the three-month report of the General Department of Customs and Excise. In March alone, the value of steel and steel imports amounted to US$26.29 million, the report added. During the first quarter, the GDCE collected a total of duties of approx. US$590 m...
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Denationalization Vs Nationalization of State Property
- 12 April 2022
In Cambodia, the government has divided its property into two types: state public property and state private property. These two types of property can be reclassified through denationalization or nationalization. What are these two types of property? and how do denationalization and nationalization work? State public property refers to the immovable property of the state being used for publi...
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Mondulkiri tourism development master plan 2021-2035 officially launched
- 11 April 2022
The National Committee for Tourism Development officially disseminated and launched the "Master Plan For Mondulkiri Tourism Development 2022-2035” which is a guiding document for the development of the tourism sector in the Northeastern area of the country. Held on April 11, the official dissemination was presided over by HE Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finan...
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How does the rise of new players affect the Borey market in Cambodia?
- 8 April 2022
In the last six months, there were 39 new Borey projects launched, while the total accumulative Boreys is projected to rise to over 300 by the end of 2022, and to 400 by 2023, according to CBRE Cambodia’s recent report. The most interesting fact about this surge in the number of Borey despite the pandemic is that almost half of the new Borey developers above are all new players. This trend w...
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