Phnom Penh (FN), Jan. 25 - General Department of Taxation (GDT) of the Ministry of Economy and Finance (MoE) collected approximately $1.9 billion of tax revenues in 2017, according to the MoE’s report in the GDT’s Annual Meeting on Thursday.

"In 2017, GDT collected a total of approximately $1.9 billion, increased by $419 million, an equivalent to 27% compared to 2016,” stated Kong Vibol, Director General of GDT.

Minister of Economy Aun Porn Moniroth has fully supported and agreed with the measures taken by the director general in the sense of increasing productivity as well as efficiency of tax revenue collection.

He urged reform implementation and fiscal administration modernization, in particular, the implementation of amended legal instruments with consistency to the budget plan 2018.

Meanwhile, he also recommended the GDT to strengthen and improve enterprise audit work; to enhance the value-added tax recovery mechanism; to promote the preparation of a sub-decree, while the Law on Operations on Oil and Minerals is implemented through budget law 2018; to finalize the phase II from the medium-term revenue mobilization strategy 2014-2018; and to promote people’s understanding on tax.

The minister and the director of the GDT highly appreciated the leadership of all units under GDT, who has been actively involved in the efforts to raise revenue, which is the overall success of GDT.
=FRESH NEWS