Cambodia rakes in US$1.9bil in taxes in Q1 of 2023

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PHNOM PENH, April 17 (Xinhua): Cambodia collected US$1.9 billion from all sources of taxes in the first quarter (Q1) of 2023, up 2 per cent from US$1.86 billion in the same period last year, according to government data.

The South-East Asian country has two institutions responsible for collecting taxes.

One is the General Department of Taxation (GDT), which focuses on interior taxes such as income tax, salary tax, value-added tax and property tax, and the other is the General Department of Customs and Excise (GDCE), which collects taxes on goods entering and leaving the country.

In its news statement, the GDT said the agency made US$1.34 billion in tax revenue during the January-March period this year, up 6.3 per cent from US$1.26 billion in the same period last year.

"The GDT has achieved 37.63 per cent of the self-imposed target for 2023," the statement said.

Meanwhile, GDCE's director-general Kun Nhem said in a separate statement that the GDCE earned US$564 million in customs and excise revenue during Q1 this year, a year-on-year decrease of more than 5 per cent from US$597 million dollars.

"We have achieved 20.5 percent of the target set for 2023," he said.

Nhem said automobiles and machinery topped the list of customs and excise revenue sources at 36.3 per cent, followed by general goods at 32.9 per cent, petroleum at 24 per cent, and construction materials as well as miscellaneous fees at 6.8 per cent. - Xinhua