Cambodia transits to online tax collection for businesses

Effective this year, all corporate and business taxes will be collected online. Foreign and local companies which do businesses online such as on Facebook, Youtube and Netflix will have to register with the General Department of Taxation. The Department’s director-general Kong Vibol said the companies can also apply for value-added tax or VAT. During a special programme on income tax  held yesterday, he said the department will start applying the online taxes for companies doing businesses online from April 1. Vibol said they have yet to ascertain how much revenue they will get once the tax collection goes online. He added that the revenue forecast can only be made when there is the establishment of an Internet Gateway to manage and strengthen the collection of taxes from e-commerce effectively. He said that non-resident taxpayers who supply digital goods or digital services electronically or for all e-commerce activities entering Cambodia must hurry to complete the Simplified VAT Registration before April 1. He added that those who do not register or does not  update the existing information or does not submit the declaration and pay the value added tax to the General Department of Taxation on time, will be punished as  stated in the laws and regulations on tax in force. This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources. Khmer Daily