Minister of Economy and Finance has said that Cambodia
plans to increase the current revenue by at least 0.5% of annual GDP to achieve
the national strategy to develop Cambodia to become an upper middle income
country in 2030.
Speaking last week at a consultative meeting on the
review of draft 2014-2018 medium-term revenue mobilization strategy, he said
the vision of draft strategy focused on the mobilization of income tax and
non-tax revenue with all existing potentialities to respond to the need for
socioeconomic development and to achieve the goal of increasing current
national revenue to at least 0.5% of annual GDP.
The medium-term revenue mobilization strategy was
designed in order to: (1) strengthen the structure of tax and non-tax system,
promote the culture of tax payments and law compliance; (2) respond to the need
for development so as to maintain high economic growth and achieve national
development goals in line with the Rectangular Strategy Phase III; (3) expand
the fiscal flow to strengthen fiscal stability and sustainable debt management,
and reduce reliance on foreign financing; and (4) increase emergency fiscal
reserve of the government.
This strategy also concentrated on three pillars,
including administrative strengthening, policy improvement and enhancing of
monitoring and evaluation.
He also underlined the important content of the
medium-term strategy which is aimed mainly at strengthening the tax administration
and the monitoring and evaluation through modifying special tax on products
that affect health and environment.
He advised the working group to continue the cooperation
with the General Department of Revenue Collection and related institutions to
examine together the recommendations and the modified points suggested by the
meeting to finalize the draft strategy as soon as possible
Source:
http://www.akp.gov.kh/?p=46655
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