Following two very successful Tax Forums in 2016 and 2017 in Phnom Penh, and last June’s Tax Forum in Siem Reap, Eurocham Cambodia will hold its annual Tax Forum 2018 on October 25 at The Great Duke Hotel.
Registration begins at 8am and the event is scheduled to finish at 5.15pm. If you wish to register in advance, visit Eurocham Cambodia’s website (www.eurocham-cambodia.org).
Ticket prices are $50 for members and $65 for non-members of Eurocham Cambodia. In addition to the all-day event, the ticket price also includes lunch and the networking event held in the evening.
The Tax Forum events held by Eurocham are extraordinarily popular with over 500 attendees for the Phnom Penh event in 2017. Underpinning the success of the Tax Forum is the support by the General Department of Taxation, with the keynote opening presentation by His Excellency Kong Vibol, director-general of the GDT.
In addition to a summary of the performance of the GDT in the past year and review of major changes in tax law, His Excellency typically signals initiatives in store and the intended focus and plans for the GDT in the forthcoming year.
This year His Excellency Vann Puthipol and Taing Lay from the GDT will join the panel discussion on ‘Recent Tax Changes and Transfer Pricing’ and Her Excellency Bun Neary and Seng Cheaseth will participate in the panel discussion on ‘Double Taxation Agreements, Small, Medium Enterprise Issues and Tax Disputes’. A cadre of GDT senior management will be attending the forum to mingle with taxpayers and provide technical support in their areas of expertise.
The impressive programme includes presentations from the leading legal and tax firms in Cambodia.
Clint O’Connell, chairman of the Eurocham Tax Committee and Head of the Cambodia Tax Practice at DFDL, will discuss recent tax changes. Robert King, legal partner at Ernest & Young, will present on transfer pricing. Siyonn Sotheara, tax manager at Deliotte, will speak on double taxation agreements. Van Sinat, tax manager at Bun & Associates, will present on the tax dispute process, while Anthony Galliano, CEO of Cambodian Investment Management, will discuss tax issues for small and medium-sized enterprises.
Eurocham Chairman Arnaud Darc will give the welcome address, and His Excellency George Edgar, European Union Ambassador to Cambodia, will give the opening remarks.
The last 12 months have seen some substantial changes in tax laws with the introduction of complex regulations, including sub-decree No 124 on ‘Tax Incentives for Small-Medium Enterprises in Priority Sectors’, Prakas 597 on ‘The Recognition and Tax Obligations regarding the Supply of Goods and Services made by Agent on behalf of a Principal’, and Instruction No 11946 on ‘Rules for Interest Rates on Loans between Related Parties’.
But the most significant is the Ministry of Economy and Finance’s Prakas 986 on transfer pricing.
With the GDT recently confirming $2 billion has been collected from over 10,000 audits in the last 5 years, taxpayers will benefit from presentations and panel discussions on these topics and many more, while having the opportunity to ask questions and offer comments to GDT officials and industry experts.
This extremely informative event is held just once a year in Phnom Penh, and as a result seats may be limited given the high level of attendance. Those interested are encouraged to pre-register.