GDCE’s revenue up 28 pct

May Kunmakara / Khmer Times No Comments Share:
Reuters

Revenue at the General Department of Customs and Excise (GDCE) saw a dramatic rise in the first half of the year, growing by 27.8 percent.

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According to a statement from GDCE issued yesterday, the department collected $1.2 billion during the first half of the year.

The increase in revenue was mainly the result of a hike in customs duty collection from the importation of vehicles, which went up by 40.5 percent, energy and petroleum, which increased by 10.5 percent, and construction materials, which grew by 26.6 percent.

The statement also said imports grew by 17 percent, while exports increased by 7 percent. Collection of excise duties grew by 13 percent for garment exports, and 53 percent for exports of rice and paddy.

Kun Nhem, director general of GDCE, said the rapid growth in revenue reflects the country’s improved economic performance and the stable political situation.

“The remarkable growth of international trade also led to an increase in customs and excise revenues.

“The main factor backing this increase is the country’s political stability which ensures trade, investment, production, and consumption growth,” he said.

Last year, GDCE collected $1.9 billion in tax revenue.

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