On the 5th of October 2023, the General Department of Taxation invited EuroCham Cambodia and the American Chamber of Commerce in Cambodia (AmCham) to discuss on the topics related to the issue faced by the private sector when it comes to taxation.
The topic covered werethe following one:
– Tax Auditor Bonus
– Excessive Interest Charged on Reassessments
– Failure of Incentives Requiring Advance Approvals
– Process of Approving “audit report”and “proper accounting records”
– Voluntary Disclosure
– Timeframe for the implementation of a new law
– Stamp duty on Share Capital Increase
Both private and public sector concluded by mutal commitment. While the GDT would be ready to ease the audit process, the private sector will support the GDT to encourage stronger compliance within businesses.
You can find the minutes of the meeting on this link.