[INNEWS Comprehensive Report] On September 26, the Cambodian Taxation Administration clarified the public discussion on the decline in agricultural product prices caused by taxation.
The announcement pointed out that the decline in agricultural product prices has nothing to do with taxes, and the government has been taking a variety of tax preferential measures to support agriculture and farmers. The Cambodian government has always paid attention to the interests of farmers and regarded agriculture as a priority development area. To assist farmers and agricultural exporters, the government has formulated a series of incentives, especially tax benefits for the agricultural sector.
The announcement lists a number of tax preferential policies for the agricultural sector, including tax incentives for rice cultivation, rice procurement and export rice production; exemption from value-added tax on the import and supply of goods in the agricultural sector; provision of value-added tax concessions for rice export suppliers; Tax exemptions for small and medium-sized enterprises in priority sectors; exemption from supply tax on unprocessed agricultural products; and tax incentives for agricultural or agro-industrial products including rice, corn, soybeans, pepper, cashew nuts, cassava and rubber. Suspension of income tax exemption for agricultural sector.
These measures will reduce the tax burden on the agricultural sector and increase the production and competitiveness of agricultural products. The General Department of Taxation of the Ministry of Economy and Finance of Cambodia reminds the public to understand this information and avoid being misled by wrong and false information. For tax-related questions, please contact the call center at 1277 or use the GDT online tax chat program.