Cambodia Tax Reform Makes Cambodia More Competitive

In an effort to make a more competitive economy, the government just recently removed the estimated tax regime to streamline a more consistent and a more transparent taxation system. Clint O’Connell, head of Cambodia Tax Practice for foreign investment advisory and tax firm DFDL Cambodia, said in an interview with the Phnom Penh Post that Cambodia remains to have a favorable and competitive environment for growth of foreign investment and that its revamped system will be an advantage for foreign investors who prefer consistency and transparency when it comes to their transactions. He continues to say that while this Cambodia Tax Reform may also be good for SME growth, there is still much more to be done such as providing tax incentives and properly educating them about proper taxation and running a business. While Cambodia has had its fair share of ups and downs, its future looks brighter than ever.