Cambodia Announces Withholding Tax Exemption

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 Phnom Penh, May 30, 2019 –The Royal Government of Cambodia has decided to exempt the 1% withholding tax for all enterprises as an encouragement and incentive for all investors in the country.

 

The decision was announced in a press release of the Ministry of Economy and Finance made public yesterday evening.

According to the same source, the announcement followed the decision of Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen in a meeting with H.E. Ken Matsuzawa, President of the International Friendship Exchange Council of Japan, in Tokyo yesterday afternoon.

The exemption has to come into effect immediately, without waiting until the end of this year, stressed Samdech Techo Hun Sen quoted by H.E. Kao Kim Hourn, Delegate Minister Attached to the Prime Minister.

H.E. Ken Matsuzawa welcomed the key decision and pledged to boost the flow of Japanese investments to Cambodia, while Samdech Techo Hun Sen called for support for human resource training.

by C. Nika