There are three types of duties and taxes that apply for imported goods:
- Customs Import Duties with an ad-valorem rate.
- Special Tax for certain goods.
- Value Added Tax (VAT) of 10 per cent.
The standard rate of profit tax for companies is 20 per cent. Oil and gas and a number of mineral exploitation activities are subject to a 30 per cent rate. A preferential rate of nine per cent is available for qualified investment projects that are approved by the Council for the Development of Cambodia (CDC). Insurance or reinsurance of life, property or other risk businesses are imposed at the rate of five per cent of the gross premium.
Minimum tax is separate and distinct from the profit tax and is imposed at a rate of one per cent, which is subject to the self-assessment regime tax payers. Cambodian tax payers are liable to pay one per cent of annual turnover to the government.
A two per cent turnover tax applies to tax payers, which includes revenue from the supply of goods and services. Taxpayers must make monthly turnover declarations and payments.