Cambodia: Exchange rates for VAT-registered taxpayers
Official exchange rates to be used by value added tax (VAT) registered taxpayers from 28 October 2022 onwards
Official exchange rates to be used by value added tax (VAT) registered taxpayers
The General Department of Taxation (GDT) issued Instruction no. 26118 GDT (28 October 2022) which prescribes the official exchange rates to be used by value added tax (VAT) registered taxpayers from 28 October 2022 onwards.
KPMG observation
The previous Instruction no. 10362 GDT (17 May 2022) required taxpayers to apply the GDT official exchange rates effective from 1 June 2022. The new instruction repeals that rule by reinstating the use of the official exchange rates issued by the National Bank of Cambodia (NBC).
In particular, the new instruction provides that for issuing invoices, taxpayers must use the official daily exchange rate issued by the NBC or a market exchange rate that is not lower than the NBC’s rate. However, the GDT needs to clarify the market exchange rate that taxpayers can use in lieu of the NBC rate.
Read a November 2022 report [PDF 174 KB] prepared by the KPMG member firm in Cambodia
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