PHNOM PENH: The General Department of Taxation (GDT) has collected US$3,06 billion as tax revenue in the first ten months of 2023.
The figure was released on Nov. 15 in a monthly meeting chaired by H.E. Kong Vibol, Minister Attached to the Prime Minister and GDT’s Director General.
“The tax income collection in the ten-month period equals 85.8 percent of the yearly budget plan,” H.E Kong Vibol said.
In October alone, GDT generated some $260 million from tax collection, he added, lauding the joint efforts of officials in collecting tax income efficiently.
Modernization has resulted in better rates of registration, improvement in taxpayer services, and filing of tax returns in addition to the expansion of data storing facilities among other things, he said.
The 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.