Clint O’Connell (Partner, Cambodia Deputy Managing Director & Head of Cambodia Tax Practice) was recently quoted in an article published in the Khmer Times: Tax Delay May Stimulate Property Sector, Experts Say.
The article discusses the recent request from the Ministry of Economy and Finance to the Prime Minister Hun Sen to postpone the start of the Capital Gains Tax (“CGT”) for an additional 2 years to 1 January 2024. Clint highlighted that the further delay in the implementation of CGT was primarily motivated by the perceived need to help the Cambodian real estate sector to recover from the COVID-19 pandemic. While CGT also covers other capital items such as shares he stated that as investors in sectors such as in production or agriculture typically took a long term approach to FDI and the delay of CGT whilst a factor would not necessarily have a material impact on their decision to invest in Cambodia in the short term.
We invite you to read the full article to find out more: “Tax Delay May Stimulate Property Sector, Experts Say”