Sector: Taxation

April 20, 2021

On the night of 14 April, the Cambodian Government ordered a number of restrictions in response to the recent rise in COVID-19 infections by means of Decision nr. 49 SR dated 14 April 2021 (“Decision 49“). The regulation was follow up by an amendment providing some additional details by Decision nr. 50 dated 17 April […]

April 17, 2021

The Cambodian tax authority, the General Department of Taxation (“GDT”), has instituted an extension for all monthly tax returns normally due on 25 April.  These are the Prepayment of Profit Tax, the Value Added Tax, the Tax on Salary and the Withholding Tax. The extension comes amid city wide lock downs of Phnom Penh and […]

April 15, 2021

In accordance with the recent Government directed business closures and stay-at-home orders, we would like to inform you as follows: VDB Loi in Phnom Penh will continue to operate, with the help of our cloud technology, through online processes and work-from-home.  Tax filings and government filings will continue insofar these are possible by distance/online. Tax […]

March 30, 2021

With the current drastic increase in the number of COVID-19 infections in Cambodia and to help prevent the spread of contagious diseases, the Royal Government of the Kingdom of Cambodia enacted the Law on Measures to Prevent COVID-19 and Other Fatal and Harmful Diseases on 11 March 2021 (the “COVID Law”) and Sub-Decree No. 37 […]

March 11, 2021

The deadline for the final annual profit tax payment is fast approaching, are you ready? Are you aware of the new 50% penalty on final annual profit tax payments that are in excess of 10% of the total prepaid profit tax? What should you do to minimize the risk of penalties on the excess? The […]

March 9, 2021

Are you ready for your annual personal income tax audit, due by 31 March 2021? Did you know you need to register for a taxpayer identification number? Do you know if you’re eligible for a family support allowance deduction? On the same day Instruction No. 0819/MoF Implementing the Income Tax Law dated 10 February 2021 […]

March 5, 2021

The Union Parliament (“Pyidaungsu Hluttaw”), represented by the Committee Representing Pyidaungsu Hluttaw (“CRPH”), enacted the Law Amending Union Tax Law 2020 on 3 March 2021, which postpones tax collections and assessments until 30 September 2021. The CRPH was formed by the elected parliamentarians on 5 February 2021. All types of taxes and levies, including Income […]

February 18, 2021

On 10 February 2021, the Minister of Finance issued Instruction No. 0819/MoF (the “Instruction”) to implement the Income Tax Law No. 67/NA dated 18 June 2019. There are a number of interesting developments; we highlight below some of the key points.  Profit tax Per the Taxation Administration Law No. 66/NA dated 17 June 2019, profit […]

January 26, 2021

On 29 January 2020, the Ministry of Economy and Finance issued Prakas No. 098 MEF.PrK on Tax on Income (“Prakas 098”), which made several changes to the previous Tax on Income (“TOI”) Prakas No. 1059 MEF.PrK.TD that will affect the preparation of TOI returns from the year 2020 onwards. We highlight below some of the […]

December 4, 2020

Clients have been often raising queries relating to the process and actions required to arrange for a travel to Myanmar by an expatriate employee. There are many cases when people have been outside of Myanmar since the beginning of 2020. For many, their previously issued Myanmar visas are about to expire. Although modern technology allows […]

November 29, 2020

In response to several COVID incidents linked to international travel and foreign diplomats, the Cambodian Ministry of Health is sharpening the measures applicable to most international travelers arriving in the country.

October 30, 2020

The Withholding Tax (“WHT”) regime is a mechanism to tax a non-resident for income derived from Myanmar. In the past, the definition of income derived from Myanmar included services performed both outside and inside Myanmar for Myanmar projects. Under Notification 47/2018, the Internal Revenue Department (“IRD”) has subsequently narrowed the interpretation to capture only services […]

September 30, 2020

With limited time left to settle outstanding tax payments for FY2019-2020 in order to avoid being exposed to penalties, taxpayers need to make sure their tax position is adjusted in accordance with the updated tax laws and regulations. Below is a checklist of key notes for preparing the FY2019-2020 year-end tax position. Have you considered […]

August 31, 2020

If an individual or a company is buying a capital asset or making an investment, the source of income is required to be provided as proof for the funds used for the purchase or the investment. If the source of income cannot be proved for the portion of the funds used in such purchase or […]

August 31, 2020

Capital Gains Tax (“CGT”) has finally been introduced in Cambodia by Prakas no. 356 MEF.Prk dated 1 April 2020, issued by the Ministry of Economy and Finance (“MOEF”). As per the Prakas, taxpayers both resident and non-resident are subject to CGT at the rate of 20% on their gains from the sale or transfer of […]

August 31, 2020

Employers should be aware that 2021 labor compliance deadlines are approaching. The period to apply to the Ministry of Labor and Vocational Training (“MLVT”) for the 2021 quota approval for foreign employees is now open and runs from 1 September 2020 to 30 November 2020. Applications for work permit renewals for 2021 are to be […]

August 27, 2020

Today sees the entry into force of the new Law on Land No. 70/NA dated 21 June 2019 (the “2019 Land Law”), which among other things, includes new provisions concerning the limited ownership of land-use rights by foreigners under certain circumstances, and the limited ownership of individual units in a condominium or apartment building. This […]

August 25, 2020

The Law on Insurance (amended) No. 78/NA dated 29 November 2019, (the “Amended Insurance Law”) came into effect on 14 April 2020, after it was promulgated by the President of the Lao PDR on 10 January 2020 and published in the Official Gazette on 30 March 2020. The Amended Insurance Law has effectuated several major […]

August 10, 2020

Information purposes only, August 2020 Self-assessment regime but rigorous tax audit process The tax system in Indonesia operates on a self-assessment basis, however a rigorous and often punitive tax audit and verification process is followed. The main tax laws are supplemented by a complex and ever-changing raft of implementing regulations. Worldwide income, no grouping. Note […]

July 30, 2020

The past few months have been an interesting phase for taxpayers in Myanmar due to the tax reliefs granted under the COVID-19 Economic Relief Plan, changes in current tax regulations, the announcement of the draft Union Tax Law 2020 (“draft UTL”), and the draft new Income Tax Law.   What major changes are included under the […]