GOV’t Grants Property Tax Exemption for Four New Cities Until the End of 2023

• Sommana Yan
• 6 June 2023
• Local News
• 2864 Views

In a significant move that aims to foster growth and development in Cambodia’s newly established cities, the Ministry of Economy and Finance has announced a property tax exemption until the end of 2023. Prakas No. 329 MEF, dated June 1, 2023, outlines this beneficial measure.

The property located in Udong Mechey town of Kampong Speu province, Arey Ksat and Sampov Poun town of Kandal province, and Bokor twon of Kampot province, will be relieved from property tax obligations during this period.

To ensure compliance, property owners are required to register their properties at the provincial tax branch or the Department of Property and Property Tax within the General Department of Taxation. Furthermore, property tax payments for the current year are still mandatory.

For property owners who have already fulfilled their property tax obligations in these designated cities, the amount paid can be used as a reference credit for tax deduction in the following year. To benefit from this provision, property owners must apply for a property tax credit at the relevant provincial tax branch or the General Department of Taxation.

The four new cities mentioned above were established in December 2022, alongside the O’Kreang Sen Chey district in Kratie province. This initiative reflects the government’s commitment to supporting the growth and development of these regions while alleviating the burden of property tax for property owners. (Read more)

• Laws and Regulation
• Policy and Strategy