Cambodia Key Tax Updates 2023

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AmCham recently held the 2023 Tax Updates Forum and guests from DFDL and CamEd Business School discussed the key changes and updates in the Cambodian tax reforms that businesses should be aware of.

The forum outlined just some of the changes to taxes and the new tax laws and updates which are waiting for promulgation by the King (see the video below).

Cambodian Tax Law Changes

Clint O’Connell, Partner – Cambodia Deputy Managing Director & Head Of Cambodia Tax Practice DFDL presented on the new Cambodia tax law changes. The changes have been designed to facilitate, improve, fill gaps, and apply consistency to taxes in the Kingdom.

  • There is an increase in the number of chapters rising from 7 to 20 chapters.
  • There are 255 articles, rising from 155 articles.
  • Core definitions remain the same.
  • Changes to permanent establishments and agency definitions.
  • Double tax agreements have been signed by Cambodia.
  • There is a reference to the ability of an individual to create a PE (permanent establishment) on behalf of a non-resident in Cambodia.
  • Anti-avoidance rules are a broad set of power for the tax authority to combat tax avoidance (Article 194i).

DFDL has been announced as a finalist for the 19th Annual ALB SE Asia Law Awards 2023 for Energy and Resources Law Firm of the Year, M&A Deal of the Year (Midsize), and Project Finance Deal of the Year.

We will be speaking with Clint O’Connell in the near future about taxes in Cambodia.

Cambodian Educational Tax Reliefs

Casey Barnett president of CamEd Business School expanded on the Cambodian government’s announcement that tax reliefs for higher educational institutions will be extended for five years until the end of 2028 and in fact, now apply to all educational establishments.

Panel Discussion – Cambodia Key Tax Updates 2023

In the video below, you can find out more in a detailed discussion on aspects of Cambodian tax laws on topics such as:

  • Share transfers for Cambodian companies (investment assets)
  • Anti-Avoidance Laws
  • Q&A from the audience on new Tax Laws

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