GDT revenues 96% of full-year goal

Hong Vanak, director of International Economics at the Royal Academy of Cambodia, similarly credited the constant rise in the GDT’s revenues – save for the 2020-2021 Covid-19 era – to sweeping reforms and the incorporation of comparatively advanced technologies and innovative methods into tax administration.

Barring extraordinary circumstances, the growing number of investments in Cambodia will keep driving up tax revenues, he said. “As the country grows and law enforcement improves, tax revenues will unquestionably increase. Continued refinements are also necessary to get people to pay their taxes.”

Vanak predicted that GDT revenues would rise even further next year, especially after the government dials back at least some of the tax breaks prompted by Covid-19 – especially the tourism, real estate, and other sector-specific levy exemptions – once recovery in the respective field is determined to be firmly rooted.

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