The Malaysian Business Chamber of Cambodia (MBCC) hosted a briefing, followed by a luncheon for its members in Sunway Hotel, aimed at updating members on tax regulations that took place this year. Present at the briefing session was Baker Tilly’s Managing Partner, Tan Khee Meng, who discussed several matters pertaining to the tax regulations in Cambodia.
Khee Meng states that the Kingdom’s withholding tax rates for Malaysia tax residents on dividends, interest, royalties and fees for technical services will be reduced from the current level of 14 percent to 10 percent.
Additionally, under the agreement, Malaysian airlines operating international routes to the Kingdom will have to pay taxes on their profits only in Malaysia.
The session also saw discussions on tax incentives for listing an entity, tax exemption for companies in the agriculture sector, tax audits and new regulations regarding the use of the local currency as well.
Joining in the discussions were Malaysian embassy representative, Deputy Chief of Mission, Khairul Gadafi Kamaludin and MBCC president, Teh Sing.