Phnom Penh (FN), Oct. 3 – Cambodian prime minister Hun Manet reaffirmed that the Royal Government will not create new law on taxation or increase tax rates. However, the government has continued to offer a number of tax incentives to support the citizens and businessmen in the kingdom.

The premier spoke on Tuesday morning (Oct. 3) during a meeting with nearly 20,000 workers in Phnom Penh.

"Firstly, I would like to reaffirm that there is no new law on taxation. Secondly, there is no increase in the existing tax rates. Thirdly, we will set out some tax-related principles during the government-private sector meeting in November," the premier underscored.

In late 2021, Cambodia introduced a new investment law to increase the country’s competitiveness for foreign investors by modernizing local industries and protecting the rights of investors. The new law offers a variety of incentives, such as income tax exemption and customs duties incentives.
=FRESH NEWS