GDT collects more than $2.5 billion, up 14 percent from the first 11 months of this year

Kong Vibol

In the first 11 months of this year, the General Department of Taxation has collected tax revenue for the national budget totalling $2.56 billion, equivalent to 114.13% of the financial law plan for the management of 2021.

In the meeting to summarize the results of tax revenue collection for November and for the first 11 months of 2021 and the direction for further implementation of the General Department of Taxation on December 13, 2021, Kong Vibol, Minister Delegate to the Prime Minister and Director General of the General Department of Taxation, in November, all types of tax revenue collected by the General Department of Taxation (according to the online revenue management system of the General Department of Taxation) amounted to 990.29 billion riels (approximately $244.52 million), equivalent to 10.90% of the financial law plan for the management of 2021.

When compared to the tax revenue in November 2020, this constitutes an increase of of 49.31 billion riels (approximately $12.17 million), equivalent to 5.24%.

At the same time, the General Director highlighted the factors that increased the tax revenue collection results in November and reached the 2021 plan as follows:

– The wise leadership of Prime Minister Hun Sen, especially the full and effective management of the situation of Covid-19 by taking strategic measures to vaccinate the Cambodian people with a proactive and timely initiative.

It’s time to build community resilience to the epidemic and reopen the economy in November, under the wise guidance and planning of Dr. Aun Porn Moniroth, Deputy Prime Minister and Minister of Economy and Finance.

– Continuing to strengthen good governance and good administration, as well as adhering to a proactive spirit, especially the development and launch of information technology systems prior to the outbreak of Covid-19.

Street enterprise surveys provide adequate databases for the implementation of enterprise tax registration management, and the General Department of Taxation has strengthened tax registration through the technology nursery system and continues to strengthen enterprise updates in accordance with the content of Prakas No. 701 MEF.PrK dated 14 August 2020 on Tax Registration and Update of Taxpayer Information that Provides Timely Prevention of All Forms of Tax Evasion. Swift News/Khmer Times