Cambodian customs tax revenue nearly doubled in 5 years
On April 21, local time, the director of the Cambodian Customs and Taxation Administration, Kun Rak, told the media that the total tax revenue of Cambodian customs has nearly doubled during the five-year period.
Kunja said that in 2013, Cambodia’s total customs tax revenue was nearly 881 million U.S. dollars, and it increased to 2.5 billion U.S. dollars in 2018. This is the year that Cambodia has the highest total tax revenue, which is an increase of 32% over 2017 and compared to 2013. Increased nearly 2 times.
According to data, customs revenue in 2018 reached 2.5 billion U.S. dollars, completing 121.4% of the original plan, a year-on-year increase of 32%. Among them, import taxes increased by 18%, special taxes increased by 42.4%, and value-added tax (VAT) increased by 30.7%.
According to reports, the main sources of taxation of the Cambodian Customs and Taxation Administration in 2018 include vehicles and machinery (46%), fuel and energy (20%), building materials and other commodities (34%).
Kunja said that the substantial increase in Cambodian customs taxation has benefited from the country's political stability, economic development, and a good investment environment; the government has cracked down on tax evasion.