Reading Time: 2 minutesTRUSTS SERVICE FEES FOR THE REGISTRATION OF TRUSTS, Prakas № 854 of the Ministry of Economy and Finance (“MEF”), 30 September 2019. The purpose of this Prakas is to determine the level of fees for the registration of trusts in Cambodia. The registration and renewal fees include administrative and annual certification fees, the respective amounts […]
Reading Time: 10 minutesDFDL’s Employment Practice Group is dedicated to advising clients on employment and labor issues and preparing human resources documentation that is compliant with local laws. Our employment team’s in-depth knowledge of the law and practices in the countries where we operate allows us to provide specialized, tailored, and practical advice on issues that arise in […]
Reading Time: 2 minutesREINSURANCE BUSINESS LICENSING REINSURANCE ACTIVITIES IN CAMBODIA, Prakas № 323 of the Ministry of Economic and Finance (“MEF”), dated 20 March 2019. Pursuant to Article 41 of the Insurance Law (“Insurance Law 2014”) dated 4 August 2014, insurance activities in Cambodia are categorized into four types including (i) life insurance, (ii) general insurance, (iii) reinsurance […]
Reading Time: 2 minutesCambodia has signed a Double Taxation Agreement (DTA) with Hong Kong on the 26th of June 2019 as announced by the Secretary for Financial Services and Treasury, Mr James Lau, on behalf of the Hong Kong Special Administrative Region Government. Under the DTA, double taxation will be avoided in that any tax paid in Cambodia […]
Reading Time: 2 minutesFollowing the issuance of Prakas 442 on the Payment of Wages dated 21 September 2018 and Prakas 443 on Seniority Payments dated 21 September 2018, the ministry of Labour and Vocational Training (“MLVT”) issued official Guideliens 044/19 on the Implementation of Prakas 442 and 443 for Personnel of Foreign Missions, Agencies of the United Nations […]
Reading Time: 9 minutesDFDL’s Employment Practice Group is dedicated to advising clients on employment and labor issues and preparing human resources documentation that is compliant with local laws. Our employment team’s in-depth knowledge of the law and practices in the countries where we operate allows us to provide specialized, tailored, and practical advice on issues that arise in […]
Reading Time: 4 minutesRegistered taxpayers in Cambodia are now in the process of completing their Annual Tax on Income (“TOI”) declarations for the 2018 tax year. This applies equally to those entities that hold real estate in Cambodia and we provide below some of the key tax issues that those entities should be aware of when submitting their […]
Reading Time: 2 minutesNotification 4908 issued by the General Department of Taxation (GDT) on the 18th of March 2019 requires all registered taxpayers in the self-assessment taxation regime in Cambodia to now provide the total amounts, in tax invoices that they issue to customers, in Khmer Riel (KHR). For completeness the itemized amounts in a tax invoice do […]
Reading Time: 3 minutesMarket rates On 13 March 2019, the General Department of Taxation (“GDT”) released Notification 4630, which provides the “market rates” for determining the caps on interest rate deductions for loans that had been entered into using Khmer Riel (“KHR”) and United States Dollars (“USD”) in the 2018 financial year. The “market rates” for 2018 are as […]
Reading Time: 2 minutesSub-Decree 01 ANKr.BK dated 4 January 2019 (“Sub-Decree”) has introduced a new package of tax incentives for those entities in Cambodia looking to list on the Cambodian Stock Exchange (CSX). The 2019 tax incentives provided to listing entities on the CSX are much more comprehensive and concessional then those that were initially offered in 2011, […]
Reading Time: 4 minutesThe Cambodia General Department of Taxation (GDT) has formally announced that the Double Tax Agreements (DTAs) which the Kingdom of Cambodia signed with Brunei Darussalam, The People’s Republic of China and the Socialist Republic of Vietnam officially come into effect on 1 January 2019for Cambodian tax residents. These developments represent major milestones in Cambodia’s ongoing tax […]
Reading Time: 5 minutesEarlier this year, Cambodia issued an English version of its Competition Law entitled Version 5.7 stated to be “based on the Draft Khmer Version as of 13 FEB 2018” (“Law”). Below we describe some of the key features of the Law. We have been informed that this is a final version and that it is […]
