Yuanta

GDCE cracks 15,000 smuggling cases in 1H22

 The General Department of Customs and Excise (GDCE) has cracked down 15,631 smuggling cases, while 862 enterprises have been placed by the General Department of Taxation (GDT) on the risk list which was rejected from tax registration and returned for additional review, among which 760 submitted applications for online registration through a portal in the first half of this year. The two bodies together have collected about $2.88 billion as revenue, according to a report by the Ministry of Economy and Finance (MEF). The number of crackdown cases recorded by GDCE included 445 large-scale cases and 15,186 small cases in the Jan-Jun period of 2022, while the number has been increasing by 7,456 cases or 91% compared to the same period of last year, according to the report, adding that GDCE settled 15,408 customs crimes, collecting over $1.8 million of customs and fines. GDCE, which is also operated under MEF, collected nearly $1.3 billion in the first half of 2022 from customs or import tariff, export taxes, import regime, VAT, Added Tax on petroleum products and others-- 50.18% of the amount set in Cambodia's budget law 2022--which is a rise of $138.83 million or 12% compared to the same period of last year, says the report. Among the risky 862 enterprises, GDT found that 21 are large-tax payers, 581 are medium-tax payers and 260 are small-tax payers and among 760 which are in the process of online registration, 21 are large-tax payers, 495 are medium-tax payers and 244 are small-tax payers, while 5,198 firms--327 large-tax payers, 2,595 medium-tax payers and 2,276 small-tax payers--were registered successfully in the January-June period of 2022, said the report. (Source: Khmer Times)

Coporate News

05th September 2022

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