PHNOM PENH: The Ministry of Economy and Finance collected US$5.9 billion in revenues from all kinds of taxes last year, a 3.9 percent decrease from US$6.14 billion in 2022, an official report showed.
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.
In 2023, the GDT earned US$3.61 billion, up 4.5 percent from US$3.45 billion a year before, read the report.
On the other hand, the GDCE collected US$2.28 billion in 2023, a decline of 15.7 percent from US$2.67 billion in 2022, the source pointed out.
H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance lauded the tax officials’ efforts in collecting taxes.
“The revenues were achieved in a situation where the surrounding environment was facing challenges, including the slow recovery of the superpowers’ economy, the continued prolongation of wars, geopolitical tensions, that have disrupted the transport sector and the supply chain, as well as demand for consumption,” he said at the GDCE’s annual meeting organized here last Friday.