Tax alert

Prakas No. 626 MEF.PrK The Tax Incentive for Enterprise in Tourism Sector in Siem Reap Province

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On 10 October 2024, the Ministry of Economy and Finance (“MEF”) issued Prakas No. 626 MEF.PrK which sets forth the tax incentives for the enterprise in tourism sector such as hotel, guesthouse, restaurant and tour agent registered and has a business activity in Siem Reap province shall be entitled as follows:
Contents

 

  1.  Exempted from paying all types of monthly taxes except value added tax (VAT) and accommodation tax from July 2024 until the end of June 2025.
  2. Exempted from tax on income (TOI) for year 2024. For prepayment of tax on income which was paid already shall be allowed as a tax credit for offset with tax on income for the year 2025.
  3. Exempted from tax audit for the period of 2024.

 

During the tax incentive period, medium and large taxpayers must submit monthly tax returns through e-filing systems and annual TOI e-filing systems, while small taxpayers must submit them at a time and place determined by tax administration or the GDT Tax Prefiling App. Taxpayers must also maintain accounting records and information related to business activities in accordance with tax laws and regulations.

Prakas No. 626 MEF.PrK
Tax Alert

Prakas No. 626 MEF.PrK

Download Prakas No. 626 MEF.PrK [1555 kb]