Tax Department declares amnesty

[geovalin]

Matthieu de Gaudemar

 

The Tax Department has announced an amnesty for underpaid or undeclared taxes in a move that could incentivise greater compliance, experts said yesterday.

 

In an announcement made last Thursday, the General Department of Taxation (GDT) said taxpayers would be able to declare and pay unpaid or incorrectly filed taxes up to three years from the filing date with no penalty. However, the window is only open until April 1.

 

Clint O’Connell, head of Cambodia Tax Practice at foreign investment advisory and tax firm DFDL Cambodia, said yesterday that the amnesty could be a major factor to push companies to fully comply with the GDT as the penalties for non-compliance can be significant.

 

read more http://www.phnompenhpost.com/business/tax-department-declares-amnesty

 

 

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