Tax Collection Up 17.5 Percent

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The General Department of Taxation collected $1.69 billion in tax revenue during the first nine months of the year, an increase of more than 17.5 percent.

REUTERS/Samrang Pring

In September alone, the government collected $188.29 million in taxes, up 42.13 percent compared to the same month last year, according to a recent statement by GDT.

“We will reach our target for tax collection this year,” GDT’s general director Kong Vibol said in the statement.

Mr Vibol asked all GDT officials to work hard, with discipline and in accordance with the law to encourage more firms to register with the GDT and start paying taxes.

This year the GDT aims to collect $1.92 billion in taxes, Mr Vibol said, adding that to achieve its target the department must implement its medium-term revenue collection strategy (2014-2018) effectively, and strengthen tax collection efforts in the provinces.

He added that the GDT is now updating the property transfer tax.

This article was originally published in the Khmer Times.