{"id":37444,"date":"2016-12-08T17:05:21","date_gmt":"2016-12-08T10:05:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/coming-soon-more-taxes-on-cambodian-property-cinema\/"},"modified":"2016-12-08T17:23:08","modified_gmt":"2016-12-08T10:23:08","slug":"coming-soon-more-taxes-on-cambodian-property-cinema","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/coming-soon-more-taxes-on-cambodian-property-cinema\/","title":{"rendered":"Coming soon: More taxes on Cambodian property, cinema"},"content":{"rendered":"


\nLights, camera, taxation!
\nA cinema at Preah Norodom Boulevard in Phnom Penh. myrmux \/ Shutterstock.com
\nCambodia\u2019s coffers are about to get bigger streams of revenues from two of its strongest sectors: real estate and entertainment.
\nA withholding tax of 10 percent will be levied on real estate agents in the country upon the sale or rental of any property, The Khmer Times reported, citing a directive issued last week by the General Department of Taxation (GDT).
\nA 14 percent withholding tax will also be slapped on foreign film production companies and local theatres authorised to screen movies in the country.
\nMore: More optimism urged on Cambodia\u2019s property market
\n\u201cIf a local cinema pays for film authorisation and transfers to a local agent, the agent will not be entitled to pay for film authorization in the form of the withholding tax because the local agent is not the owner of the film,\u201d the GDT said in a statement.
\nTax collection in the first 10 months of the year increased by more than 20 percent from the same period in 2015 to USD1.3 billion, the Times Reported.
\n\u201cIn my view, the general department of taxation should hold a public forum and invite all real estate agents so they know their tax obligation,\u201d said Kim Heang, president of the Cambodian Valuers and Estate Agents Association. \u201cI think it\u2019s the best way as many don\u2019t know much.\u201d
\nRead next: How to buy land in Cambodia (like Angelina Jolie)
\n
\nSource : property-report.com
\nRead more…Coming soon: More taxes on Cambodian property, cinema<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Lights, camera, taxation! A cinema at Preah Norodom Boulevard in Phnom Penh. myrmux \/ Shutterstock.com...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-37444","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-9JW","jetpack-related-posts":[{"id":22518,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/for-singaporean-investors-theres-no-place-like-cambodia\/","url_meta":{"origin":37444,"position":0},"title":"For Singaporean investors, there\u2019s no place like Cambodia","date":"August 10, 2016","format":false,"excerpt":"\r With a foreign investment regime more open than many ASEAN nations, Cambodia has become the place to be for Singaporean investors With its open, liberal FDI policies, Cambodia is luring Singaporean investors. 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