GDT collects $1.5bn in taxes in first half of the year

Chhut Bunthoeun / Khmer Times No Comments Share:
Kong Vibol, director-general of GDT. KT/Chor Sokunthea

Tax revenue reached $1.5 billion during the first half of the year, about 66 percent of the full-year target.

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At the half-year mark in 2018, the General Department of Taxation (GDT) had only collected $1.2 billion.

In a statement issued earlier this week, GDT said it has been collecting at least 10 percent above target for the past few years. It pointed out that in 2017, tax revenue exceeded the target

by 15 percent while last year it did so by 14 percent. Kong Vibol, Director general of GDT, recently said the increase in tax revenue is the result of sharp reforms, both in terms of regulation and tax administration, and stressed the importance of having companies officially register.

“We will not reach our tax collection goals without proper registration,” he emphasised.

Last year, the government collected $2.19 billion, an increase of 11.19 percent year-on-year.

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