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Malaysia was the fifth largest foreign investor in Cambodia in 2014-2018, bringing in $481 million. Heng Chivoan
Cambodia-Malaysia double tax agreement now in effect
Thu, 7 January 2021
The double tax avoidance agreement (DTA) between Cambodia and Malaysia came into effect on January 1, ushering in optimism and hope in the private sector that bilateral investment will garner steam.
Royal Code NS/RKM/1120/023, dated November 14, 2020, promulgated the “Law on the Approval of the Agreement between Government of Cambodia and the Government of Malaysia on the Elimination of Double Tax Avoidance”.
This is according to a January 6 press release issued by the Ministry of Economy and Finance’s General Department of Taxation (GDT).
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As of December 31, 2019, the cumulative value of approved investments stood at $85.88 billion. Hong Menea
Firms yearn for investment law in 2021
Thu, 7 January 2021
Optimism prevails in the private sector that the Investment Law widely anticipated to launch later in the year will spell new momentum in the Kingdom’s industrial diversification in parallel with the region and beyond.
The current edition of the law comprises 11 chapter and 39 articles, with key stakeholders, the private sector and government institutions holding regular meetings to thrash out its details before an official launch.
According to the draft law which was obtained by The Post, one of the primary goals of the document is to increase Cambodia’s competitiveness in the spirit of diversifying its economic structure and resilience to regional and global crises.
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Pic: Shutterstock The Council for the Development of Cambodia (CDC) recently approved an investment project with a total capital of $6.6 million in the Kandal province. Under this, Jiayuan Hengrun International Textile Co Ltd will build a garment factory in Sangkat Svay Rolum in Takhmao town. It is expected to create 1,929 jobs, CDC said in a press release. Since early December 2019, CDC has approved to 16 investment projects, including the new one, with a total capital of nearly $1.16 billion, generating some 9,000 job opportunities, a news agency reported citing the press release.
Fibre2Fashion News Desk (DS)
The Council for the Development of Cambodia (CDC) recently approved an investment project with a total capital of $6.6 million in the Kandal province. Under this, Jiayuan Hengrun International Textile Co Ltd will build a garment factory in Sangkat Svay Rolum in Takhmao town. It is expected to cre
Audit and Compliance in Cambodia: A Guide for Foreign Investors
Audit and Compliance in Cambodia: A Guide for Foreign Investors December 22, 2020 Posted by ASEAN Briefing Written by Ayman Falak Medina Reading Time: 4 minutes
Resident taxpayers are subject to tax on their worldwide income while non-resident taxpayers are taxed on their Cambodia-sourced income only.
Non-Cambodians will be considered a resident taxpayer if they are in Cambodia for more than 183 days or have their principal place of abode in the country.
Penalties for non-compliance apply to failure to file, late filing, or filing fraudulent returns.
Resident taxpayers are subject to tax on their worldwide income while non-resident taxpayers are taxed on their Cambodia-sourced income only.
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The Council for the Development of Cambodia (CDC) issued final registration certificates for three projects worth $13.5 million last week. CDC
CDC okays new $13M projects
Sun, 20 December 2020
The government approved three projects worth a total of $13.5 million last week, bringing the total number of projects in the first three weeks of this month to nine with total investment value of $1.1354 billion, the Council for the Development of Cambodia (CDC) said on December 18.
Last week’s additions include Lak Sun (Cambodia) Co Ltd’s $3.2 million project in Kampong Speu province’s Kong Pisei district that is expected to create 197 new jobs, Sinokh Perfect Garment Co Ltd’s $5.3 million garment factory in Kandal province’s Khsach Kandal district that is slated to provide 1,533 jobs.