Tax break for Cambodia's textile-linked industries to stay till 2025

Cambodia exported US$10.092 billion worth of garments, footwear and other textile-related items in January-November 2022, up 17.62 per cent year-on-year. - PPP

PHNOM PENH (The Phnom Penh Post/Asia News Network):The government has extended a suspension of “advance income tax” until the end of 2025 for eligible textile-related enterprises, a good deal of which have been hurt by a drop in orders as a result of global economic headwinds linked to the ongoing Ukraine crisis.

The decision comes after the Textile, Apparel, Footwear and Travel Goods Association in Cambodia (TAFTAC) in October asked the Ministry of Economy and Finance to extend the “Suspension of Advance Income Tax of Enterprises in the Textile and Garment Industry”.