The Signboard / Advertisements Tax: Update and Deep Dive on the New Prakas
Introduction
The new Prakas dated 20 March 2024 on the Signboard or Advertisements Tax comes as many enterprises struggle with tax reassessments and penalties related to all types of advertising. The General Department of Taxation (GDT) has issued new rules to determine which advertising or signs trigger this tax, and which ones do not. Besides what is subject to tax, major other aspects are also often disputed. Such as, who owes this tax if the advertisement concerns several parties such as a principal and its agents? A lot of practical questions and issues, worthy of a deep dive.
In this highly practical physical breakfast seminar, VDB Loi experts will take you through a systematic, thorough analysis of the Advertisement Tax with a special focus on the changes since the new Prakas of 20 March 2024.
Highlights
- What has been changed as per the new Prakas dated 20 March 2024?
- Which are subject to tax: Questions about T-shirts, pens, cups, notebooks with logos?
- Can one advertisement be taxed multiple times and by different tax departments?
- Advertising by agents of banks, MFI, fuel retail and franchising: is the principal or the agent responsible?
- Does the size of signage matter? Name of company at building reception?
- TV screens and LED panels
- Are websites, letters and brochures subject to Advertisement Tax?
- Who pays? The advertising agency, the signage location owner or the company?
- Which signs are exempt from Advertising Tax?
- How and when to file and pay the Advertisement Tax?
- How about provincial and local taxes on signboards?
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.