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GDCE sees sharp increase in revenue

Sum Manet / Khmer Times Share:
Kun Nhem, GDCE director general. GDCE

The General Department of Customs and Excise (GDCE) saw an increase of 32 percent in revenue from taxes on imported goods in 2018, according to a report issued yesterday.

Kun Nhem, GDCE director general, said last year the agency generated about $2.5 billion in revenue from taxing imported products, with total revenue reaching 121.4 percent of the goal set by the Financial Management Law for 2018.

Revenue from tariffs (import duty) increased by 18 percent, special tax by 42.4 percent, and VAT by 30.7 percent, according to Mr Nhem.

The main sources of tax revenue were imported vehicles and machinery (contributing about 46 percent of total revenue) gasoline and energy (20 percent) and mixed goods and construction materials (34 percent), Mr Nhem added.

Speaking at a meeting of GDCE officials on Wednesday, Deputy Prime Minister Aun Porn Moniroth said the results for the year 2018 were satisfactory and urged officials to continue their hard work for the benefit of the people.

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