Cambodian Customs Collects Almost US$1.3 Billion in First Semester
AKP Phnom Penh, July 17, 2020 --
The General Department of Customs and Excise (GDCE) of the Ministry of Economy and Finance earned in total over 5,152.6 billion Riel or US$1,272.2 million in the first half of this year, down 16.2 percent compared to the same period last year.
The figures were shared in a recent press release on the outcome of a review meeting of GDCE chaired by its Director General H.E. Kun Nhim.
This revenue represents 43.9 percent of the target stated in the Budget Law 2020, said H.E. Kun Nhim, pointing out that the revenue from the import of vehicles decreased by 31.7 percent, construction materials by 28.2 percent, while that of fuel increased by 5 percent and other commodities by 3.1 percent.
During the same period, the import tax dropped by 19.8 percent, special tax by 21.6 percent and VAT by 9 .6 percent, he added.
H.E. Kun Nhim attributed the decrease in customs revenue mainly to the COVID-19 outbreak which has hit hard the domestic and export markets of Cambodia as well as international trade flow.
By Phal Sophanith