The General Department of Taxation (GDT) collected more than $1.3 billion in tax revenue during the first five months of the year, an increase of 28 percent compared to the same months last year.
In May alone, the government collected $185.8 million in taxes, up more than 38 percent compared to the same month last year, GDT said in a recent statement.
Kong Vibol, GDT director general, said in the statement that the hike in revenue collection is the result of the modernisation of the tax collection system through the adoption of new technology.
“To improve tax collection and enhance revenue, GDT is always strengthening good governance by focusing on good administration, technology, effective leadership and management, and meritocracy,” Mr Vibol said.
“To ensure efficiency in revenue management and achieve the targets set by the government, GDT strictly adheres to high standards to make tax collection more efficient and comply with the government’s reforms,” he said.
Mr Vibol said GDT will continue to improve the taxpayer registration system. The agency also aims to increase compliance by strengthening the law and efficiently implementing existing regulation.
Last year, GDT collected nearly 2.2 billion, an increase of 13.3 percent compared to 2017.
Over the last few years, revenue growth has averaged 20 percent, moving from just over $1 billion in 2014 to 1.9 billion in 2017.