|
|
|
|
|
|
|
Cambodia corporate tax rates among the lowest in SEA
|
|
Tax considerations form an essential part of a corporate strategy and play a key role in determining the success of a business. Cambodia is making itself more attractive to foreign investors by having one of the lowest corporate tax rates in Southeast Asia.
According to the source, the Kingdom having third lowest corporate tax rate in the region after Brunei and Singapore. Cambodia’s current corporate tax rate stands at 20 percent, which is the same as Thailand and Vietnam. Singapore has the lowest rate in the region, which stands at 17 percent, followed by Brunei at 18.5 percent.
Contrary, Philippines has the highest corporate tax rate in Southeast Asia at 30 percent, followed by Indonesia and Myanmar at 25 percent, and Malaysia and Laos at 24 percent.
Local and international experts commented that it is important for Cambodia to offer low or competitive corporate tax rates.
Anthony Galliano, CEO of Cambodia Investment Management (CIM), mentioned the city-state, led by the inflow of foreign direct investments (FDI) in Southeast Asia, continues to benefit low tax jurisdiction, from $62 billion in 2017 to $77 billion in 2018.
He added that it would be ‘risky’ for the Kingdom to raise its corporate tax rate for the time being.
|
|
|
|
|
|
|
|
|
