Tax Collection Exceeds Target on Construction and Real Estate

• 21 July 2018
• Local News
• 3429 Views

Tax collection in the first six months of 2018 has reached 61.28% of the yearly plan with construction and property taxes having a sharp increase, according to H.E. Kong Vibol, a Delegate of the Royal Government in charge as Director-General of the General Department of Taxation (GDT).

In a special interview programme with reporters, H.E Kong Vibol said that among the total tax revenue of more than US$1 billion, tax collection on Transfer Property Tax had increased up to 31% compared to the same period last year.

“Because investors are confident about Cambodia’s political stability as well as the stability of the macro economy, this has driven more investment in the construction and real estate sectors,” he said.

All of these factors have increased the confidence for both citizens and investors to do business with land as well as housing even though this is election period, he added.

Meanwhile on 17 July, the General Department of Customs and Excise (GDCE) reported an increase of the total revenue on customs duty collection of up to 27.8% in the first six months of 2018. Among the business sectors, collection from construction materials has increased by 26.6% compared to the same period last year.

The above interview was conducted on 20 July, 2018 at the General Department of Taxation (GDT).

• Analysis
• Economy and Finance