EuroCham and AmCham Host First Joint Tax Forum to Streamline Business Compliance
New tax reforms and digitalization efforts aim to create a more transparent and efficient tax environment in Cambodia.
EuroCham and AmCham held their first joint tax forum on September 18, 2024, gathering senior officials from the General Department of Taxation (GDT), business leaders, and tax experts. The forum highlighted new initiatives by the GDT, including Standard Operating Procedures (SOPs) for tax audits, the creation of a Special Tax Audit Unit, and ongoing digitalization efforts aimed at simplifying tax compliance for businesses.
GDT Director General H.E. Kong Vibol emphasized the importance of these reforms in engaging with the private sector. EuroCham and AmCham leaders praised the reforms, noting their potential to attract foreign direct investment by offering a clearer and fairer tax system.
Tax experts also discussed the challenges of audits and recommended improvements, with a focus on reducing lengthy procedures and introducing independent arbitration. This collaborative forum marks a step forward in creating a more conducive business environment in Cambodia.
---
GDT Director General H.E. Kong Vibol emphasized the importance of these reforms in engaging with the private sector. EuroCham and AmCham leaders praised the reforms, noting their potential to attract foreign direct investment by offering a clearer and fairer tax system.
Tax experts also discussed the challenges of audits and recommended improvements, with a focus on reducing lengthy procedures and introducing independent arbitration. This collaborative forum marks a step forward in creating a more conducive business environment in Cambodia.
---
