Cambodia Collects US$2.95 billion as Fiscal Revenue in First Half of 2020
AKP Phnom Penh, July 17, 2020 --
The Royal Government of Cambodia collected US$2,956 million as revenue from all sources of taxes, a slight decrease of 0.7 percent compared to the same period last year.
Two institutions are responsible for tax collection. General Department of Customs and Excise (GDCE) garners taxes on importation and exportation of goods, and General Department of Taxation (GDT) focuses on interior taxes such as income tax, tax on salary, value-added tax, property tax, and so on.
From January to June 2020, GDT earned US$1,684 million as tax revenue, a 12 percent increase compared to the first semester last year.
Figures from GDCE showed that it collected US$1,272 million as customs and excise taxes, down 16 percent.
Last year, the two institutions, which play a vital role in earning fiscal revenue for the government, collected US$6 billion, of which US$2,819 million by GDCE, up 28 percent, and US$3,200 million by GDT, a year-on-year increase of 30 percent.
By Chea Vannak