Tuesday, 11 August 2009

Cambodian tax revenue rises in July, down year-on-year


PHNOM PENH, Aug. 11 (Xinhua) -- Cambodian government's tax revenue rose in July over the previous month, but down over the same period last year, local media reported on Tuesday, citing a report from the General Department of Customs and Excise.

Customs and Excise reported revenue of 51.4 million U.S. dollars in July, an increase of 200,000 U.S. dollars over June. But revenue was 13.6 percent lower than that collected in July 2008.

Kum Nhem, the department's deputy general, was quoted by the Phnom Penh Post as saying the decline in tax revenue was due to a worsening global economic climate that had less impact last year on imported and exported goods.

"It is more difficult for us to get higher revenues in the current circumstances because the financial crisis is putting too much pressure on goods coming in and going out of Cambodia," he said.

Kum Nhem said the department was confident the decline in coming months would be minimal and cited steps taken to increase tax revenue on sand exports, a sector from which it has not yet been fully effective in collecting taxes.

"We expect tax revenues to increase significantly in November and December because of an increase in transportation during the dry season, which is usually much busier than the rainy season," Kum Nhem said.

Tax revenues for the first seven months of this year reached 331 million U.S. dollars, according to data provided by the excise and customs department, and more than 500 million U.S. dollars in 2008.

Editor: Li Xianzhi

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