New sub-decree aims to manage non-tax revenue collection

Sok Chan / Khmer Times No Comments Share:
A view of the rapidly evolving skyline in Phnom Penh. Fabien Mouret

The government yesterday released sub-decree No 72 to enhance efficiency and transparency in the management of non-tax revenue.

For in depth analysis of Cambodian Business, visit Capital Cambodia
.

The new regulation sets the mechanism to be followed when collecting, recording and monitoring non-tax revenue, including income collected from ministries, public institutions, province-level administration and state enterprises.

Non-tax revenue includes income derived from state properties, state enterprises and autonomous state entities, as well as revenue obtained from the provision of public services and fines and penalties levied against citizens.

. .

Under the new regulation, the Ministry of Economy and Finance is tasked with preparing the legal framework necessary for the management and monitoring of non-tax revenue, as well as with preparing annual reports on how this type of revenue is being managed.

According to Net Mony, director general of the State Property and Non-Tax Revenue Department at the Ministry of Economy and Finance, non-tax revenue accounted for 15 percent of total state revenue last year.

“Most public revenue comes from taxes as well as customs and excise duties. Non-tax revenue is relatively small in comparison,” Mr Mony said.

“After the sub-decree on the collection of non-tax revenue is implemented, we expect non-tax revenue to increase.”

Share and Like this post

Related Posts

Previous Article

Government to regulate service charges

Next Article

Japan puts new customs system on the table