Businesses do not particularly enjoy uncertainty, especially regarding tax matters. The prospect of a tax audit, even when no significant exposure is anticipated, can be daunting. If a problem is known to lurk in the shadows, the prospect of a tax audit can be beyond terrifying. In Cambodia, attempting to wait out the applicable statute of limitations for the General Department of Taxation (“GDT”) to conduct an audit and issue an assessment is...

The General Department of Taxation (“GDT”) issued Notification no. 4577 GDT on the 9th of March 2022 (“Notification 4577”) which delays the implementation of Prakas 346 MEF.P on Capital Gains Tax (“Prakas 346”) to 1 January 2024.

Cambodia’s long-awaited Competition Law (“Law”) was signed into law by the King on 5 October 2021. While the Law has been enacted, the principal regulator, the Cambodia Competition Commission (“CCC”) has not yet been appointed and it is not clear how the Law will be enforced prior to a) such appointment and b) the issue of required regulatory instruments and decisions.

On 19 April 2021, the MLVT issued ‘Instruction 043 concerning the Payment of Wages for Early April (2021) and Additional Allowances for Employees in the Garment, Enterprise, Handicraft and Business sectors during the Phnom Penh and Takmao city lockdowns to prevent the spread of COVID-19’ (“Instruction”).

The Kingdom of Cambodia has transformed into one of the ten fastest-growing economies of the past 20 years. Poverty has sharply fallen from 50% of the population in 2005 to 13.5% in 2014. The World Bank now classifies Cambodia as a lower-middle income economy, no longer a low-income economy as before.

COVID-19 has thrust the world into recession, which as a result akin to a domino effect, has led to rapid and accelerated change. Most notably, industries have pivoted online as we hurtle headlong into an increasingly digitalized society. In response to extended lockdowns, society has become more reliant on technology than it has ever been.

On 27 June 2020, Cambodia implemented two new laws, as follows: (i) the Law on Anti-Money Laundering and Combating the Financing of Terrorism and (ii) the Law on Combating the Financing of Weapons of Mass Destruction Proliferation.

3 December 2020 | 09:00 – 11:30 am (UTC+07:00) | Complimentary DFDL cordially invites you to the upcoming Cambodia Tax on Income Updated Rules 2020 webinar on Thursday, 3 December 2020.

DFDL’s Employment Practice is dedicated to advising clients on employment and labor issues throughout Southeast and South Asia and preparing human resources documentation that is fully compliant with local laws.

Following the promulgation of the E-Commerce Law on 2 November 2019, two significant implementing regulations were recently issued, which set out and the procedures to apply for permits and licenses to operate electronic commerce businesses and the exemptions therefrom: