Cambodia: Guidance on tax relief and exemptions
Various guidance related to amendments to tax declarations, the real estate sector, stamp duty, and tax on salary
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November 12, 2024
The Ministry of Economy and Finance (MoEF) has issued various guidance related to amendments to tax declarations, the real estate sector, stamp duty, and tax on salary.
- Prakas No. 625 MEF.Prk (October 10, 2024) amends and extends the tax period covered by the tax relief on administrative penalties, including additional tax, interest, and fines for voluntary amendments of tax declarations. This extension applies to amendments of accounting records and tax declarations for transactions prior to August 2024, provided the amendments are submitted no later than June 2025.
- Notification No. 014 MEF (October 9, 2024) clarifies, extends, and includes additional tax exemptions, relief, and suspensions for the real estate sector. Key updates include stamp duty exemptions on the transfer of immovable property, the implementation of capital gains tax (CGT) on various assets from January 1, 2025, the exemption of CGT on immovable properties, and tax on unused land implemented from 2025.
- Prakas No. 577 MEF.Prk.GDT (September 19, 2024) implements provisions under the 2023 Law on Taxation related to stamp duty. The new guidance maintains the same scope and tax exemption provisions but introduces updates such as a 4% stamp duty rate on the transfer of shares or similar interests of a real estate company.
- Prakas No. 575 MEF.Prk.GDT (September 19, 2024) implements the provisions of the 2023 New Law on Taxation related to tax on salary. This new guidance includes updates on the definitions of “salaries” and “wages,” non-taxable items, and the removal of conditions for exemption from the tax on salary.
Read a November 2024 report prepared by the KPMG member firm in Cambodia