GDT Issues Late Extension To Annual Tax Filings Deadline

The one-month extension to the deadline for annual tax submissions has angered many employees of Cambodian companies, although it may see some relieved as it would give them time to amend and re-file their statements. The General Department of Taxation (GDT) has made an unprecedented last-minute move to grant a one-month extension to its traditional March 31 deadline for companies to submit their annual corporate tax filings. A post on the GDT’s official Facebook page at 4:52pm on Friday announced that companies would be given until April 30 to file their annual tax statement without penalty. “In the past, the GDT has noticed that some management and accounting records for tax declarations and revenue taxes are correct, while other companies ask for additional time to correct accounting records time and time again [after the deadline],” the statement read. “The deadline has been extended subsequently so that companies can make corrections and be compliant.” The timing of the GDT’s decision to extend the deadline was immediately slammed on social media. “Good news but why so late to release? This is just giving luck to those who submit late,” wrote one user. Others were more sarcastic in the tone of their response: “Awesome! I skip board report because of you and at the end [you just push the deadline back].” In January, the GDT announced a general amnesty for companies that had operated under the estimated regime, allowing them to correct their statements without fear of being hit with retroactive tax bills. “Since the tax amnesty was announced, it has created a great deal of confusion among the business community,” said Clint O’Connell, head of Cambodia Tax Practice at foreign investment advisory and tax firm DFDL Cambodia. “A delay may help some of them enter into the amnesty agreement.” For more on this story, click here.