Logo of Phnom Penh Post newspaper Phnom Penh Post - PM pats GDT chief on back after record tax revenues

PM pats GDT chief on back after record tax revenues

Content image - Phnom Penh Post
General Department of Taxation (GDT) chief Kong Vibol. Heng Chivoan

PM pats GDT chief on back after record tax revenues

Prime Minister has congratulated General Department of Taxation (GDT) chief Kong Vibol on a job well done after the agency last year collected revenues equivalent to 122.54 per cent of the target set by the annual financial management law, in the “highest surplus of all time”.

In an early-January speech, the premier had disclosed that the GDT collected $3.455 billion in 2022, compared to the $2.81955 billion target for the year, which was raised by 26.68 per cent to $3.57170 billion for 2023.

For reference, the GDT reported its 2021 revenues at $2.78192 billion, which was down by 3.7 per cent from 2020, but still surpassed its annual target by 24.02 per cent.

In a letter addressed to Vibol dated January 2 and released to the public on February 1, Hun Sen hailed the GDT’s 2022 revenue figure as a “milestone being achieved for Cambodia and its people during such difficult times”.

He attributed the current hardships to “the ongoing Covid-19 pandemic, the global geo-political tension, the Russian-Ukraine war along with the imposition of tough foreign policies by a number of world leading countries and last, but not least, the domino effect of the uncontrollable rising of inflation rate”.

“I am incredibly pleased with this outstanding result which is proudly a remarkable way to mark the end of 2022 for our nation.

“This is an exceptionally historic accomplishment of tax revenue collection by GDT – to exceed the target plan, reaching the highest surplus of all time accounting for 22.54 per cent, which is equivalent to 2.57407 trillion riel, approximately 635.57 million US dollars.

“This great accomplishment has played a very vital role in supporting the national economic development and the livelihood of our Cambodian people during an unprecedented global economic crisis and uncertainties,” Hun Sen said.

Vibol recently told The Post that the incorporation of emerging digital technologies and innovations into the taxation system has driven efficiency in collection and made things more convenient for taxpayers, especially in the Covid-19 era.

The GDT will make further reforms and upgrade the technology used in tax processes to ensure that the 2023 revenue target is met, he affirmed.

However, he conceded that progress could be hindered by domestic, regional and global economic headwinds associated with lingering Covid-19-related disruptions and the Russo-Ukrainian conflict.

Vibol elaborated that the turmoil in Ukraine has fuelled inflation and sharply pushed up energy prices across the globe, leading to a slowdown in economic growth and eating into European purchasing power, which he said will likely sap demand for Cambodian goods and deliver a significant blow to the local economy.

He vowed to personally work hard to reform human resource management, modernise applicable technologies, and promote tax culture, transparency and especially good governance. “We will make every effort to achieve the plans set by the government.

“We are carrying out this modernisation to improve taxpayers’ voluntary compliance, making paying taxes more transparent and instilling confidence that the money actually makes it into state coffers,” he said.

The GDT will continue to make its reforms more sweeping, and stick to its modernisation plans to better manage the collection of an increasing amount of taxes, provide improved services, and encourage proper tax registration, Vibol stressed.

“We’ll keep pressing ahead with our reforms, build a more positive taxpaying culture among those who may have never known the law, and further reinforce the knowledge and capacities of officials,” he added.


  • Wing Bank opens new branch in front of Orkide The Royal along Street 2004

    Wing Bank celebrates first anniversary as commercial bank with launch of brand-new branch. One year since officially launching with a commercial banking licence, Wing Bank on March 14 launched a new branch in front of Orkide The Royal along Street 2004. The launch was presided over by

  • Girl from Stung Meanchey dump now college grad living in Australia

    After finishing her foundational studies at Trinity College and earning a Bachelor’s degree from the University of Melbourne in 2022, Ron Sophy, a girl who once lived at the Stung Meanchey garbage dump and scavenged for things to sell, is now working at a private

  • Ministry orders all schools, public and private, to close for SEA Games

    From April 20 to May 18, all public and private educational institutions will be closed to maintain order and support Cambodia's hosting of the 32nd SEA Games and 12th ASEAN Para Games, said a directive from the Ministry of Education, Youth and Sport. Cambodia will host the

  • Wat Phnom hornbills attract tourists, locals

    Thanks to the arrival of a friendly flock of great hornbills, Hour Rithy, a former aviculturist – or raiser of birds – in Kratie province turned Phnom Penh tuk tuk driver, has seen a partial return to his former profession. He has become something of a guide

  • Almost 9K tourists see equinox sunrise at Angkor Wat

    Nearly 9,000 visitors – including 2,226 international tourists – gathered at Angkor Wat on March 21 to view the spring equinox sunrise, according to a senior official of the Siem Reap provinical tourism department. Ngov Seng Kak, director of the department, said a total of 8,726 people visited Angkor Wat to

  • Angkor Beer strengthens national pride with golden new look and fresher taste

    Angkor Beer – the "Gold of Angkor" – has a new look, one that is more stylish and carries a premium appeal, as well as a fresher taste and smoother flavour, making it the perfect choice for any gathering. Angkor Beer recently launched its new design, one