Reading Time: < 1 minute
The General Department of Taxation (GDT), reminded directors of any enterprise that engages in commercial gambling to report and pay taxes on all other business activities.
Kong Vibol, director general of GDT, stated in a February 2, notice that they must comply with their tax obligations regarding gambling according to the Prakas on rules and procedures for tax declarations relating to the proceeds from gambling.
They are required to pay and declare taxes for any business activity, other than gambling.
GDT observed that not all commercial gambling businesses had met their obligations, and some had not.
The notice stated that “Those who haven’t yet declared their taxes should take this as a reminder that failure to pay your tax obligations is a crime.”
Notice stated that the Minister of Economy and Finance Aun pornmoniroth had approved the removal of late penalties and additional taxes to businesses that paid their tax bills by the end of March.
GDT hopes that directors of gambling businesses will take responsibility and file tax declarations as soon possible.
Prime Minister Hun Sen recently praised the GDT for collecting 122.54% from the internal tax revenue, which was targeted by the Law on Financial Management of 2022.
“I am extremely pleased with the results of their internal taxes collection. This is truly an incredible result. He stated that the GDT generated 22.54 percent more revenue than we anticipated, which was an amount that was greater than $635 million.”
