Cambodia Tax Regulation Update-June 2020
The Ministry of Economy and Finance (MEF) promulgated Prakas No. 525 on June 19, 2020, which aims to reduce the withholding of withholding when the Cambodian banks and microfinance institutions ("MFI") pay domestic and overseas interest payments Tax ("WHT
2021
07
Jul
How to declare tax for Cambodian companies under rent reduction and suspension of business?
2021-07-07

This service account insists on originality. The author is Zhang Xiaoming, partner of Zhuozhi (Cambodia) Accounting Firm, three years of multinational enterprise management experience, six years of listing audit experience, five years of entrepreneurial experience, Chinese certified public accountant (CPA), international certified public accountant (ACCA) ). Customer Service WeChat: exe7269, 0717264227

After the Cambodia 818 online gambling ban, many landlords have reduced rents for tenants, and some investors want to temporarily stop operating this company for a period of time, or do not want this company, then how to deal with these matters, this article is with everyone Explore it.

How to file a tax return if the rent is reduced

Previous articles have repeatedly talked about the calculation method and taxation principle of rental tax. The problem now is that the relevant lease contract has been submitted to the tax department when the company is registered. What procedures need to be processed after the rent is reduced to legally pay the lease tax at 10% of the rent after the reduction?

For rent reduction contracts, it is recommended to find the mayor’s signature or a lawyer to be fair. Of course, there is no problem with a real contract that can withstand inspection. The above-mentioned contract can be submitted to the tax department by the financial staff. If necessary, the tax department will check the original or carry out a certain amount. The interview is to determine the authenticity of events and contracts. In this way, the rent tax can be paid according to the rent after the rent reduction. Some of our customers reduce rent by 2,000 dollars a month, that is to say, reduce rent by 200 dollars a month.

What to do if the company temporarily stops operating

Near the end of the new year, some investors want to run the company again after the new year, and temporarily stop operating the company, what should be done? Do you want to pay taxes?

To temporarily suspend the operation of the company, a written application must be submitted to the taxation department stating the reasons and period for the suspension of business, and the business can be suspended after approval is obtained. Tax filing is not required during the suspension period. No tax is required during the suspension of business. However, if you continue to pay rent to the landlord, you need to pay the rent tax, which can be paid by the landlord.

What to do with unwanted companies

do not care. This is the worst and the easiest way, but it will leave a stain on future development in Cambodia. If you go to the taxation department to handle the affairs or the taxation department in the future, you will need to pay the corresponding taxes and fines. This is not recommended. the way.

transfer. This is the best way to transfer to someone in need, and the transfer cost or the expenses incurred by the transfer will be paid by the transferee. Anyway, at least there is no need to spend any more money. But the key to the problem is that it is a good choice to find the transferee, friends or insiders, and there is a certain foundation of trust.

Log out. This is a standard way of processing, first cancel the tax, and then the bank and business department. The advantage of this method is that all matters are dealt with in accordance with the law and there are no hidden dangers, but the disadvantage is that the cancellation fee is also a large expenditure, and the cancellation period is generally 3 months, and the tax declaration is still required when the tax is not cancelled.

You are welcome to leave a message about your concerns. I am very happy to discuss with you. In addition, our video course is about to go online. Just follow the official account to watch the video to learn about Cambodian finances and taxes. I am Xiao Ming.