Cambodia approves capital gains tax deferral until 2024 as Covid-19 cases continue to rise in the country

Cambodia's Ministry of Economy and Finance’s General Department of Taxation (GDT) in Phnom Penh. - Phnom Penh Post/ANN

PHNOM PENH, March 11 (Phnom Penh Post/ANN): The Cambodia government has decided to postpone the implementation of the capital gains tax until 2024 in a bid to restore and prop up post-pandemic economic growth, according to a notice from the Ministry of Economy and Finance’s General Department of Taxation (GDT).

The decision came after the ministry submitted a postponement request to Prime Minister Hun Sen in January. Subsequently, the GDT issued a notice on March 9 extending the deadline for declaring capital gains tax by another two years, setting January 1, 2024 as the date the tax comes back into effect.