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Cambodia: Guidance on income tax incentives for expanded qualified investment projects

The new guidance imposes stricter criteria when computing the EQIP exemption rate.

June 14, 2024

The Ministry of Economy and Finance (MoEF) issued Prakas No. 313 MEF.Prk.GDT (dated May 10, 2024) providing guidance on the income tax incentives for expanded qualified investment projects (EQIPs). 

KPMG observation

One of the notable changes under the guidance is the commencement date of the EQIP incentives. Previously, the additional tax exemption period granted for EQIPs commenced from the date of approval for the EQIP by the Council for the Development of Cambodia (CDC), which was a challenge for EQIPs that needed a significant amount of lead time in procuring, installing, and commissioning key equipment and facilities for the EQIP activities before generating any income. Under the new rule, EQIPs are now able to maximize the available incentives because the EQIP incentive period now begins once the EQIP starts to generate its own income.

However, the new guidance imposes stricter criteria when computing the EQIP exemption rate in that it requires EQIPs to keep track of the actual capital injected into the EQIP activities, as opposed to using the ballpark figure of projected capital submitted to the CDC during EQIP application.

Read a June 2024 report prepared by the KPMG member firm in Cambodia

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