PHNOM PENH - Cambodia's General Department of Taxation (GDT) made e-commerce value-added tax (VAT) income of 68.3 million U.S. dollars from the operations of electronic goods and services in the first 11 months of 2023, it said in a press statement released on Wednesday.
The Southeast Asian country began to collect a 10 percent VAT on e-commerce transactions from overseas-resident companies such as Google, Meta, Amazon, Microsoft, YouTube, TikTok, and Netflix, among others from April 1, 2022.
GDT Director General Kong Vibol has said that the VAT on e-commerce transactions was one of the potential sources of revenue for the country.
"We see that this has the potential to further increase the national budget revenue in the long run," he said.
The GDT is a government agency responsible for collecting interior taxes such as income tax, salary tax, VAT, and property tax.
According to the statement, the GDT made a total of 3.34 billion dollars in tax revenue during the January-November period this year, achieving 93.7 percent of the self-imposed target for 2023. - XINHUA