Cambodian Finance ministry raises $1.4B in Q1 2020
By B2B Cambodia
on
The Cambodian Ministry of Economy and Finance raised $1.4B in Q1 2020 revenue, which represents an increase of 24% from Q1 2019.
Q1 2020 Revenue
The Phnom Penh Post reported that the results from Q1 2020 were largely before the effects of the ongoing COVID-19 pandemic would be felt. Ministry spokesman Meas Sok Sensan said “The impact of Covid-19 was not too severe in the first quarter. However, the pandemic began to hit hard in the early second quarter, which is why our revenue collection was so high. But, we will surely see a decline in the second quarter." The breakdown of the revenue collection is:- General Department of Taxation: $445 million
- General Department of Customs and Excise: $729 million
- General Department of State Property and Non-Tax Revenue: $176 million
- General Department of Financial Industry: $30.5 million
- Fiscal revenue: $5 million