PHNOM PENH: Cambodia’s General Department of Taxation (GDT) has collected one billion U.S. dollars in taxes in the first eight months of 2016, up 20 percent compared to the same period last year, said a GDT’s press release on Friday.
The revenue was collected mainly from tax on profits, salary tax, value added tax (VAT), turnover tax, vehicle tax, patent tax and property tax. In August alone, the GDT earned nearly 121 million U.S. dollars in taxes, the press release said.
GDT’s director general Kong Vibol attributed the remarkable rise in tax revenue to increasing business activities and strict law enforcement.
Revenue collected by the GDT is not included the revenue of the Customs and Excise Department, which collects taxes on goods entering and leaving the country.
