PHNOM PENH: The General Department of Taxation (GDT) collected more than $539 million in tax revenue through the online revenue management system in the first two months of 2023, which is equivalent to more than 15% of the management financial plan for 2023.
Minister delegate Kong Vibol Attached to the Prime Minister and the Royal Government, presented the figure on March 14, 2023, at the General Department of Taxation head office in Phnom Penh, during a meeting to review the results of tax collection in February and the first two months of 2023, as well as the direction for implementation.
“In total, in the first two months of 2023, the tax revenue collected by the GDT through the system was 2,183.89 billion Riels (approximately $539.23 million), equivalent to 15.10% of the Financial Law Plan for the year 2023, compared to the tax revenue in the same period in 2022 saw an increase of 109.33 billion Riels (approximately $27 million), equal to 5.27%.”
Revenues from major sources increased by 14.79% in the first two months of 2023 compared to the same period in 2022, including income tax of 14.79%, value-added tax of 8.93%, and payroll tax of 11.01%. At the same time, e-commerce tax revenue totaled 60.24 billion riels (approximately $14.87 million).
Tax revenue in February alone amounted to 966.32 billion Riels (approximately $ 238.60 million). Equivalent to 6.68% of the Management Financial Law Plan 2023. In February 2022, tax revenue increased by 59.29 billion riels (approximately $ 14.64 million), or 6.54%.