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Cambodia collects 1.47 bln USD in taxes in 5 months

Xinhua, June 10, 2016 Adjust font size:

Cambodia collected 1.47 billion U.S. dollars from all sources of taxes in the first five months of 2016, up 22 percent from 1.2 billion U.S. dollars over the same period last year, according to the latest figures released on Friday.

The Southeast Asian nation has two institutions in charge of collecting taxes. One is the General Department of Taxation (GDT), which collects interior taxes such as income tax, Value Added Tax (VAT), turnover 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.

GDT's director-general Kong Vibol said in a press release that the GDT earned 708 million U.S. dollars in taxes during the January-May period this year, up 21 percent if compared to the same period last year.

"The GDT has achieved 49.82 percent of the government-set target for 2016," he said.

Meanwhile, the GDCE announced that it collected 763 million U.S. dollars in taxes during the first five months of this year, up 22 percent year-on-year.

GDCE's chief Kun Nhim said his department had fulfilled 46 percent of the set target for this year. Enditem