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We’ve been acquired

Dear Customers,We are thrilled to announce that we have signed a definitive agreement to be acquired by a foreign bank operating in Cambodia, a leading multinational investment bank and financial services holding company. More details to come in a press release. What does this mean for you? On day-to-day, it’s business as usual only now…

The Easiest Way to Become a Successful Food Business in Cambodia

Introduction No business can stay operational for very long unless it brings in money. As a Small Taxpayer in Cambodia; your food business should make it convenient and easy for customers to spend money with you. Giving your customers choices about how to pay using your Point-of-Sale Software is vital to support the ongoing function…

Three Books For Small Taxpayers: What It Is and How To Use It

Introduction Over the last few years, the General Department of Taxation (GDT) has strengthened the tax collection in the Kingdom of Cambodia. The designation of the Small Taxpayer who was previously estimated regime taxpayers, were now directed to submit the Small Taxpayer monthly tax return and pay the relevant taxes such as VAT, Tax on…

Announcing the All-New ASEANTAX POS: A Better Retail Solution for Restaurants & Food Delivery in Cambodia

Introduction Wouldn’t it be nice if your restaurant or food business could combine your Point-of-Sale [POS] system with your monthly tax declaration requirement? Since Covid, restaurants and retail shops are adapting their businesses and embracing alternative ways of connecting with their customers. Whether you are new to e-commerce, exploring opening a food business, or finding…

Cambodia: Capital Gains Tax – Prakas 346 on Capital Gains

Introduction On 1 April 2020, The Ministry of Economy and Finance (MEF) has issued Prakas No.346 on Capital Gains Tax which applies to all capital gains. This Prakas outlines [defines] capital gains tax, provides guidance for calculating capital gains, and even discusses the penalty for failure to pay. Prakas 346 was to take effect from…

Deductions: Depreciation of an asset [example included]

Introduction Depreciation is one of many types of deductions available for the taxpayer. We previously discussed tax-on-salary deductions, and this week we will discuss depreciation of tangible property and intangible property. This article is relevant for business taxpayers that wish to reduce their tax liability based on the asset they own. In this post, we…

NBC Notice [13-020-004] “The US Dollar Circulation in Cambodia” – Everything you need to know – in 4 Minutes

Introduction This post will review a notice from the National Bank of Cambodia [13-020-004] “The US Dollar Circulation in Cambodia”- This notice is important if you are a business entity conducting business using small U.S. dollar notes, or an individual that makes transactions in small U.S. notes. What happened The Director-General of the National Bank…

 3 Things You Need to Know About Deductibility of Expenses, From an Accountant’s Perspective [examples included]

Introduction In this post, we will talk about just a few (there are many) different types of tax deductions. Deductions apply to many types of taxpayers; you can be an individual, a business entity, or maybe even an investor. We’ll show you a few examples of how deductions are used and provide two examples of…