PHNOM PENH: The General Department of Customs and Excise (GDCE) collected $2.02 billion in customs revenue in the first nine months of this year, a 19% increase year on year.
The figures were revealed at a press conference held on October 5 by H.E. Kun Nhim, Director General of the GDCE. “The figure is good,” he said during the press conference, “achieving 78.61 percent of the target set for the entire year of 2022.”
He stated that the increase in customs and excise revenue occurred after the Kingdom resumed all socioeconomic activities and reopened its borders in November 2021 as a result of the country’s high vaccination coverage against COVID-19.
Tax collection is handled by two institutions in Cambodia. The General Department of Customs and Excise (GDCE) collects taxes on goods entering and leaving the country, while the General Department of Taxation (GDT) focuses on internal taxes like income tax, salary tax, value-added tax, and property tax.
Meanwhile, the GDT generated $2.68 billion in tax revenue during the same period, a 27 percent increase year on year.