Best Tax Lawyers in Phnom Penh

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Tip & Partners Law Firm

Tip & Partners Law Firm

Phnom Penh, Cambodia

Free Consultation: 30 mins


Founded in 1995
10 people in their team
Tip & Partners is one of Cambodia’s leading independent law firm. The firm provides a comprehensive range of legal services to serve the...
English
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Davies SM Attorneys-at-Law

Davies SM Attorneys-at-Law

Phnom Penh, Cambodia

Founded in 2022
10 people in their team
ABOUT OUR FIRMAt Davies SM Attorneys-at-Law, we are committed to delivering high-quality, affordable legal services.Registered with the Bar...
English
Chinese
Khmer
ILAWASIA

ILAWASIA

Phnom Penh, Cambodia

Founded in 2011
26 people in their team
ILAWASIA, a full service Thai law firm, was established in April 2011 located in Bangkok Thailand by Mr. Somphob Rodboon, an experienced litigator....
English
BNG Legal

BNG Legal

Phnom Penh, Cambodia

Founded in 2002
20 people in their team
We differentiate ourselves by coupling a deep understanding of the local business environment with international professionalism and integrity.We...
English
Chinese

About Tax Law in Phnom Penh, Cambodia

The tax system in Phnom Penh, Cambodia, primarily derives from the Law on Taxation, supplemented by several Prakas (ministerial orders or regulations), circulars, and tax bulletins. It comprises various types of taxes including profit tax, withholding tax, value-added tax, specific tax on certain merchandise and services, salary tax, patent tax, real estate tax and more. The General Department of Taxation (GDT), under the Ministry of Economy and Finance, is responsible for administering and collecting taxes.

Why You May Need a Lawyer

Tax laws in Phnom Penh are notably complex and frequently updated which can lead to confusion. Lawyers are instrumental in numerous circumstances for instance, when setting up a new business, handling disputes with tax authorities, managing audits and investigations, ensuring compliance with new regulations, or optimizing tax efficiency. Furthermore, failure to comply with tax laws can result in severe financial penalties, making a legal professional's counsel worthwhile.

Local Laws Overview

The most relevant aspects of local tax law in Phnom Penh include Cambodian tax residency and taxation on the worldwide income of residents. Companies are subject to a 20% tax on profit. Certain entities, like oil and gas companies or insurance companies, have different rates. Value Added Tax (VAT) is usually 10% and applies to most goods and services. The Salary Tax, a type of income tax, ranges from 0 to 20 percent, based on different income brackets. Property owners are also subject to property tax at a rate of 0.1% over immovable property worth more than KHR 100 million.

Frequently Asked Questions

1. What is the standard VAT rate in Phnom Penh?

The standard VAT rate in Phnom Penh, as in the rest of Cambodia, is 10%.

2. How is income tax calculated?

Income tax, or salary tax, is calculated based on taxable income which is divided into six progressive tax bands, each subjected to its corresponding rates ranging from 0% to 20%.

3. How are businesses taxed in Cambodia?

Businesses are subject to a 20% corporation tax on profit. Businesses also need to account for VAT, withholding tax and other applicable taxes.

4. Are tax residents in Phnom Penh taxed on their worldwide income?

Yes, tax residents in Phnom Penh, as well as the rest of Cambodia, are taxed on their worldwide income.

5. How is property taxed in Phnom Penh?

Property in Phnom Penh is subject to a property tax at a rate of 0.1% over immovable property worth more than KHR 100 million.

Additional Resources

For further information, you may find the General Department of Taxation’s website helpful. This is the governing body for taxation in Cambodia. Other important resources include the Law on Taxation and various Prakas (ministerial orders or regulations) issued by the Ministry of Economy and Finance.

Next Steps

If you need legal assistance regarding tax in Phnom Penh, it is advisable to seek help from law firms specializing in Cambodian tax laws. An experienced lawyer can provide advice tailored to your specific situation, answer your questions, and guide you through the complexity of local tax laws. Ensure that you gather all necessary documents and fully understand your obligations to ensure a smooth process.

Disclaimer:
The information provided on this page is intended for informational purposes only and should not be construed as legal advice. While we strive to present accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or currentness of the content. Laws and regulations can change frequently, and interpretations of the law can vary. Therefore, you should consult with qualified legal professionals for specific advice tailored to your situation. We disclaim all liability for actions you take or fail to take based on any content on this page. If you find any information to be incorrect or outdated, please contact us, and we will make efforts to rectify it.