Sector: Taxation

March 25, 2024

要するに、外国企業が事業を行うためにはカンボジアで事業体を登録する必要がありますが、法人である必要はありません。カンボジアの商業企業法(LCE)によると、3つの形態のいすれかを選択することができます。

March 20, 2024

As we expected, Presidential Edict No. 003/P issued 19 March 2024 will reset the VAT rate of 7% that became effective less than two and a half years ago back to 10%. This change in rate will occur either late in the second quarter or early in third quarter of 2024, 15 working days after […]

March 12, 2024

Following where China has been spending and investing its Belt & Road Initiative (“BRI”) capital can provide FDI clues and reveal new opportunities in recipient countries. As infrastructure builds start to yield productive user cashflows and the need for subsequent support services arises, case studies for investment potential become apparent. In this new series, we […]

March 7, 2024

Early in 2024, the General Department of Taxation (“GDT”) issued a new regulation to incentivize taxpayers to make revisions to their earlier tax returns. The unstated but nevertheless clear objective of the GDT is to encourage taxpayers who are or become aware of past under- or misdeclarations to voluntarily and unprompted make the necessary corrections […]

March 5, 2024

この度、VDB Loiカンボジアは、カンボジア税務小冊子を日本語版で発行いたしました。ご参考までに、ご利用してください。

February 9, 2024

Tax season is upon us, and this year, Cambodia’s General Department of Taxation (“GDT”) is offering a helping hand to self-assessment taxpayers through Prakas 071. This new regulation promulgated on 30 January 2024, provides a unique opportunity to correct past tax declarations made due to misunderstandings or confusion, without facing hefty penalties and interest charges. […]

January 23, 2024

VDB Loi team in Vietnam is delighted to share Vietnam Tax Booklet 2024.  The publication:  Please contact Ms. Le Thi Thanh Thuy for at [email protected] to request a full copy of the publication.

January 16, 2024

Siem Reap and Phnom Penh’s success as a tourist destination, as well as a fairly robust economic development, has among other things resulted in a significant boost in connectivity by air for Cambodia. Just before COVID, international arrivals amounted to more than 6 million persons per year, roughly 2 million each from ASEAN and China, […]

January 5, 2024

On 21 December 2023, the Ministry of Commerce issued Notification 80/2023, which is its regular yearly announcement to specify the manufacturing years of various vehicle types allowed for importation in the coming year. The specified model years for vehicle importations in the year 2024 are as follows: No. Type of Vehicle Year of Manufacture 1 […]

January 5, 2024

On 25 December 2023, the Central Bank of Myanmar (“CBM”) issued Notification No. 27/2023 to reduce the time frame for the inbound remittance of export earnings. Previously, under Notification 27/2022 dated 6 May 2022, the CBM required that export earnings from goods exported to Asian countries be deposited into exporters’ bank accounts within 45 days, […]

December 20, 2023

Tax legislation in Vietnam is undergoing revisions in connection with the Global Minimum Tax. The note summarizes terms of the new GMT Resolution approved by National Assembly in November and the relevant new reporting requirements.

November 14, 2023

Prime Minister Samdech Thipadei Hun Manet focused on tax issues quite a bit in his remarks during the 19th Government-Private Sector Forum on 13 November 2023. Below are highlights of some of the most important tax incentives he is promoting. Incentives for Qualified Investment Projects (“QIPs”): Exemption from 1% Prepayment of Tax on Income (“PTOI”) […]

October 23, 2023

On 9 October 2023, the Government of the Lao PDR issued Presidential Edict No. 003/P to increase some of the excise tax rates in the Law on the Amendment of the Tax Law No. 01/NA dated 7 August 2021. The edict is effective immediately. The goods that are subject to the new excise tax rates […]

October 11, 2023

If you think air travel already got too expensive, you will not be happy to hear that ticket prices to and from Cambodia might be ready to fly even higher. On 26 September 2023, a recent industry meeting facilitated by the International Air Transport Association (IATA), the airport operator and the General Department of Taxation […]

October 11, 2023

VDB Loi’s Edwin Vanderbruggen and Laysym Sim facilitated the technical input at a consultation between Eurocham, Amcham and the GDT on 5 October 2023 at the GDT head office. Here is a selection by us of some of the key things that were discussed which may have practical impact for businesses and investors. Much of […]

October 5, 2023

On 12 September 2023, the State Administration Council (“SAC”) made an amendment to the Union Tax Law 2023 (Law No. 55/2023) under Section 419 of the Constitution of the Republic of the Union of Myanmar (the “Amended UTL 2023”), by which the income tax will be imposed on the income, including the salaries, received by […]

September 28, 2023

The Bangladesh Parliament recently repealed the Land Development Tax Ordinance of 1976 and introduced the new Land Development Tax Act 2023. The primary objective is to streamline land-related taxes and introduce several new provisions. Under the new law, individuals or families engaged in agricultural activities are exempt from paying land development tax if they own […]

September 18, 2023

On 8 August 2023, the Ministry of Economy and Finance issued Instruction No. 018 MEF.NT.GDT (the “Instruction”) to provide guidance to taxpayers on the procedures for claiming value added tax (“VAT”) credits and refunds. The Instruction aims to facilitate the VAT refund process, reduce uncertainties and disputes, and encourage voluntary compliance from taxpayers.

August 30, 2023

This instruction was issued to advise all entities involved in cigarette importation or the distribution of imported cigarettes on the implementation of value added tax (“VAT”), as outlined below:

July 20, 2023

The Internal Revenue Department (“IRD”) has recently made an announcement on a transformational change in the taxpayer registration process. In order to facilitate the taxpayer registration with the IRD efficiently and effectively, the process has been changed from “Manual Submission to the IRD” to “Electronic Registration Management System (“ERMS”)”. The taxpayers can now obtain Taxpayer’s […]