Logo of Phnom Penh Post newspaper Phnom Penh Post - GDCE: Tax revenue reduction offset by investment

GDCE: Tax revenue reduction offset by investment

Content image - Phnom Penh Post
Officials at the opening of the “Rules of Origin of Goods for the Private Sector” training course at the National Customs School. GDCE

GDCE: Tax revenue reduction offset by investment

Cambodia is a signatory to 10 free trade agreements (FTA) which cost the Kingdom over $400 million in lost tax revenue each year.

This is nonetheless recovered by the growth of investment and export markets, said the General Department of Customs and Excise of Cambodia (GDCE).

The GDCE explained that the implementation of bilateral or multilateral trade agreements means many goods are exempt from tariffs. When the agreements came into effect, Cambodia's exports to partner countries were tax-free while many importing goods were also tax-exempt.

The Ministry of Commerce and the Ministry of Agriculture, Forestry and Fisheries are pushing for increases in both production and processing, as more exports than imports will stimulate economic growth.

The 10 FTAs are the ASEAN Trade in Goods Agreements (ATIGA), ASEAN-China Free Trade Agreement (ACFTA), ASEAN-Korea Free Trade Agreement (AKFTA), ASEAN-India Free Trade Agreement (AIFTA), ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), ASEAN-Japan Comprehensive Economic Partnership (AJCEP), Regional Comprehensive Economic Partnership (RCEP), ASEAN-Hong Kong Free Trade Agreement (AHKFTA), Cambodia-China Free Trade Agreement (CCFTA) and Cambodia-Korea Free Trade Agreement (CKFTA).

Addressing the opening of the “Rules of Origin of Goods for the Private Sector” training course at the National Customs School, GDCE deputy director-general Se Sokhorn said Cambodia had also completed negotiations with the United Arab Emirates, and is currently in talks with more nations.


  • Tensions high ahead of historic Kun Khmer match up

    The long-awaited November 5 matchup between Kun Khmer legend Prum Samnang and Myanmar-Canadian boxer Dave Leduc has become the most anticipated fight of the year. The Wurkz Sena Kun Khmer promotion, which will be held at the Town Arena at Chip Mong 271 Megamall, will see six

  • Kep selected for ‘world-class’ 2.7km beach development

    Kep province has been selected as the first site of a new coastal development initiative, with a “world-class” 2.7km beach planned for the near future. The Kep Provincial Administration met with the National Committee for Coastal Management and Development to discuss the development of the

  • Manet: Cambodia safe for travel

    Prime Minister Hun Manet acknowledged that Cambodia and China have cooperated to tackle internet scamming, fraud and other cross border crimes, but insisted that the “Kingdom of Wonders” is completely peaceful and safe. He welcomed tourists to come and explore its rich heritage. During a

  • UNESCO formally list Battambang gastronomy

    Battambang, renowned for its cultural heritage, has achieved a significant milestone as the first Cambodian municipality to join the UNESCO Creative Cities Network (UCCN). The UCCN unites nearly 300 cities prioritising creativity and cultural industries in local development plans and international cooperation. On World Cities Day,

  • Angkor causeway symbol of Cambodia-Japan ties

    In a historic moment marking another milestone in the 70-year-long diplomatic relations between Cambodia and Japan, King Norodom Sihamoni celebrated the formal inauguration of a causeway located to the west of the world-renowned Angkor Wat. While presiding over the November 4 ceremony, the King emphasised the

  • Cambodia pivots to solar, wind energy

    Cambodia is planning a move towards solar and wind energy to meet its rising power demands, according to Minister of Mines and Energy Keo Rottanak. On the sidelines of the Singapore International Energy Week event held recently, Rottanak emphasised the urgency of diversifying Cambodia’s