Cambodia extends tax breaks for tourism-related businesses for 6 more months

Cambodia extends tax breaks for tourism-related businesses for 6 more months

The Cambodian government on Wednesday extended tax holidays for tourism-related establishments for another six months from January to June 2022 in a bid to boost business activity in the COVID-hit tourism industry.

“All kinds of monthly taxes for hotels, guesthouses, restaurants and tour companies, that have been registered with the General Department of Taxation and are operating in Phnom Penh capital city, the provinces of Siem Reap, Preah Sihanouk, Kep, and Kampot, and the towns of Bavet and Poipet, will be exempt for the first half of 2022,” read a decision jointly signed by Economy and Finance Minister Aun Pornmoniroth and Tourism Minister Thong Khon.

The decision said that no annual fees will be charged for patents and license renewals in the tourism-related businesses for 2022.

Tourism is one of the four pillars supporting the kingdom’s economy. The sector is projected to rebound in 2022 after a two-year sharp fall due to the COVID-19 pandemic, Kong Sopheareak, director of statistics and planning department of the Ministry of Tourism, said.

“We expect that the number of international tourist arrivals to Cambodia will begin to recover from this year thanks to our country’s re-opening to fully-vaccinated travelers,” he told Xinhua.

“With our quarantine-free policy, we’re confident that tourists will consider Cambodia as a key destination for their vacations and we hope to attract more than half a million of international tourists this year,” he said.

Cambodia has opened its door to fully vaccinated travelers since November last year after most of its 16 million people have been fully vaccinated against COVID-19. Khmer Times