Thursday, May 1, 2014

Acleda takes on tax collection role

1 May 2014

Taxpayers are now able to pay their dues at Acleda Bank as the government seeks to outsource its tax revenue collection to the private sector. The tax collection switch would free up capacity in government and make it easier for people to make payments.

The move is welcomed as a win for both taxpayers and the government. This should make payments easier and help with tax compliance and should help [the government] to increase its tax revenues.

Moving revenue collection away from the GDT, which lies under the Ministry of Economy and Finance, would help speed up government processes also. Though tax payments are to be made in riel, it was confirmed that Acleda would accept other currencies without charging a fee.

Cambodia’s GDT collected nearly $192 million in tax during the first quarter of this year. Last year, the GDT collected a total of $881 million in tax revenue.

Source:
http://www.phnompenhpost.com/business/acleda-takes-tax-collection-role

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