Tax on agricultural land exempted for another 100 years, says PM Hun Sen
Tax on agricultural land exempted for another 100 years, says PM Hun Sen
Government has been exempted tax on agriculture for more than 41 years and will continue to exempt for another 100 years as long as Prime Minister Samdech Hun Sen is in power.
Samdech Techo Hun Sen made the announcement on 26 February during the inauguration ceremony for the official opening of the National Road No. 58 connecting Banteay Meanchey to Oddar Meanchey. (Read more)
“During the past 41 years, the government has never collected tax from agricultural land, and this will apply for another 100 years as long as CPP is in power,” said Samdech Hun Sen.
According to the Prakas of Property Taxes by the Ministry of Economy and Finance of Cambodia on article 1, property tax shall be imposed on the properties located in the municipality and provinces of the Kingdom of Cambodia. This tax is applied to properties valued over US$25, 000; however, the tax on agricultural land is exempted.
Regarding the tax collection, Samdech Hun Sen also noted that Cambodia earns about US$250 million per month from taxes. In 2019 alone, Cambodia receives approximately $ 6 billion in tax revenue.
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Source: construction property news