Cambodia Collects Almost US$1.9 billion as Fiscal Revenue in First Seven Months
AKP Phnom Penh, August 14, 2020 --
The General Department of Taxation (GDT) collected 7,605.46 billion Riel (approximately US$1,877.89 million) as tax revenue in the first seven months of this year, a 9.6 percent increase compared to the same period last year.
The revenue, shared by GDT at a recapitulative meeting held here yesterday under the presidency of its Director General H.E Kong Vibol, represents nearly 66 percent of the yearly plan.
According to a press release issued after the meeting, the increase in tax revenue derived from two main sources – Value Added Tax (VAT) and income tax which rose by 3.17 percent and 22.71 percent, respectively.
H.E. Kong Vibol advised his line officials to continue to implement strictly and effectively the government’s in-depth reform policy through key measures including strengthening and management of tax reforms, enhancement of e-filling system, reinforcement of tax collection and so on.
The Royal Government has targeted to collect 11,543 billion Riel (some US$2,885 million) as tax revenue this year.
By Phal Sophanith