The New Regulation for Penalty Free Tax Corrections in Cambodia: Is This a Good Idea for Your Situation?
Introduction
With a brand new regulation, Prakas 071 of 2024, the Cambodian General Department of Taxation (“GDT”) will allow all taxpayers to fix their tax returns for transactions up to end of 2023, and this without interest or penalties. But many questions remain. Who can benefit from this new policy? What happens with past years that are already under audit? How does the correction work in reality? In this uniquely practical webinar, VDB Loi’s tax experts will examine for you if this opportunity is a good idea for your situation.
A fascinating opportunity to make considerable savings: what are the key things to understand about the GDT’s new policy? And, how will it work in practice?
Highlights
- For which years can you make corrections?
- What happens for past years already under tax audit?
- How do you actually make the corrections practically?
- Which interests and penalties will be waived?
- How do you decide if this is a good idea for your situation?
Speakers
Edwin Vanderbruggen
Senior Partner
VDB Loi
Edwin has 30 years of experience as a tax consultant and spent several years as a fulltime internal adviser with the tax authorities in Cambodia. He is recognized for his experience and knowledge in strategic transfer pricing matters, such as high-stakes disputes and transfer pricing planning, and he leads a team of experienced tax advisers in Cambodia on transfer pricing compliance projects. Edwin has trained tax authorities in Thailand, Myanmar, and Cambodia on transfer pricing issues, and published several professional textbooks on transfer pricing. Edwin and his team assist banks, oil and gas companies, telecoms, and other multinationals with their transfer pricing needs in Cambodia.
Laysym Sim
Partner
VDB Loi
Laysym is an experienced tax adviser with a degree in management. He has over 19 years of work experience, including with KPMG and DFDL in Cambodia, where he was responsible for relations with the tax authorities. He advises on transfer pricing, tax planning, and tax disputes. Laysym has conducted tax due diligence on several major acquisitions in Cambodia, and worked with a wide variety of international clients across a broad range of industries.
Register for the Event
EVENT DETAILS
March 7, 2024
Phnom Penh/Bangkok/Hanoi : 2.00 PM | Singapore/Hongkong : 3.00PM | Tokyo: 4.00PM
Online Webinar