Cambodia's tax revenue up 12 pct in first 5 months

PHNOM PENH, June 4 (Xinhua) -- Cambodia collected 444 million U. S. dollars in tax revenue during the first five months of the year, up 12 percent over the same period last year, said a press statement released by the General Department of Taxation on Wednesday.

The revenue rise was attributable to an increase in income tax, tax on profits, tax on salaries, value added tax, special taxes on certain merchandises and services, vehicle taxes and property taxes, the statement said.

In May alone, the department collected 91 million U.S. dollars, up 25 percent from 73 million U.S. dollars recorded in May last year.

"During the January-May period this year, tax revenue increased in all sectors," the statement said, referring to financial services, telecommunications, architecture and construction, airports and ports, garments, tourism, and food and beverage.

The revenue from the Customs and Excise Department was not included, as the department collects taxes on goods entering or leaving the country.

Speaking at a monthly meeting on Wednesday, Kong Vibol, director-general of the General Department of Taxation, hailed officials for their efforts to collect taxes and instructed them to act in accordance with laws and regulations so as to ensure the accuracy of tax revenue.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/140604/cambodias-tax-revenue-12-pct-first-5-months-0

Surprise Surprise. Cambodia has an easy 1 year visa, allows foreigners to own and (horrors) work in their own business, hire other foreigners, allows the other foreigner to work without a work permit...

How shocking that they would see an increase in taxes in what looks like all things related to a growing economy.

What was happening in "another country" at the same time?