EuroCham: Dialogue and engagement better than penalty

• 26 October 2018
• Property Focus
• 802 Views

Having more dialogue and engagement is better than having a policy of penalty, according to the European Chamber of Commerce in Cambodia (EuroCham).

On 25 October, 2018, Mr Arnaud Darc, Chairman of EuroCham said in the annual ‘Tax Forum’ that one way to promote the culture of compliance in Cambodia is a need for more collaboration between relevant parties.

“Dialogue and engagement can bring much better result that any policy of penalty and retribution” he said.

Speaking in front of more than 500 people from General Department of Taxation Cambodia (GDT) and representatives from different companies, on behalf of European companies doing business in Cambodia, Mr Arnaud Darc said that “compliance remains a hot topic… We want to be compliant and we want our competitors to be compliant so that we can all compete in this market while contributing our share to the national development”.

In addition, Mr Arnaud Darc emphasised that 50% of Cambodia’s tax revenue is derived from penalties while other country the rate is only 10%.