Tax Relief on One-time Payment for Stamp Duty Continues

• Proeksa Meas
• 21 January 2019
• Local News
• 5617 Views

The General Department of Taxation (GDT) has decided to continue granting tax relief for the one-time payment on stamp duty for property ownership transfer, according to online media DAP NEWS.

According to a letter dated 16 January, 2019 obtained by DAP NEWS, H.E Kong Vibol, Delegate of the Royal Government in charge as Director General of GDT, agreed to continue granting the tax relief for ownership transfer of unregistered (no title) and registered (with title) property, while the request of this continuation is still pending a decision from Cambodian Prime Minister SamdechTecho Hun Sen.

The decision to extend this one-time payment which expired on 31 December, 2019, was made after the GDT saw that there are still remains a large number of property buyers who are subject to pay multiple stamp duty tax.

Stamp duty on property (land, houses, buildings, and other types of construction) is set at a rate of 4% on the transfer of the ownership or possessory right of the property in the form of a sale, gift, share capital contribution in-kind of the property into the company, or whatever means by which causes the transfer of said rights.

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