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On 8 April 2024, the General Department of Taxation ("GDT") issued Guideline No. 13804 on Minimum Tax Exemption for Qualified Investment Projects ("QIP") Entities ("Guideline"), which provides guidance on the procedure for QIP entities to be exempt from the minimum tax. Pursuant to the Guidelines, QIP entities are still required to provide GDT with their independent external auditor reports on financial statements and to maintain account books properly. However, for newly registered QIP entities, there is an exemption from the submission of the independent external auditor report for their first year; for the following years, they will be required to submit such report for each relevant year latest by the end of June.
Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only
intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.
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Rajah & Tann Sok & Heng Law Office
Vattanac Capital Office Tower
Level 17, No. 66, Preah Monivong Boulevard,
Sangkat Wat Phnom, Khan Daun Penh
120211 Phnom Penh, Cambodia
http://kh.rajahtannasia.com
Contacts: Heng ChhayManaging PartnerD +855 23 215 734 F +855 23 726 417 heng.chhay@rajahtann.comDesmond WeeDirectorD +65 62320474desmond.wee@rajahtann.com| Rajah & Tann Asia is a network of legal practices based in Asia. |
Member firms are independently constituted and regulated in accordance with relevant local legal requirements. Services provided by a member firm are governed by the terms of engagement between the member firm and the client. |
This update is solely intended to provide general information and does not provide any advice or create any relationship, whether legally binding or otherwise. Rajah & Tann Asia and its member firms do not accept, and fully disclaim, responsibility for any loss or damage which may result from accessing or relying on this update. |
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