Friday, August 23, 2024 In an effort to further support the resurgence of Siem Reap’s tourism sector and lessen the financial strain on operators, Cambodian Prime Minister Hun Manet has declared a continuation of tax breaks for these businesses. This extension, announced during the first anniversary celebration of the 7th Legislature of the National Assembly of Cambodia, will persist through the end of June 2025. It’s a strategic move aimed at accelerating the recovery of tourism in one of Cambodia’s most iconic destinations.
Prime Minister Hun Manet delivered the announcement last Thursday, marking a significant step in governmental support for the tourism industry amid ongoing economic challenges. By extending these crucial tax reliefs, the administration is prioritizing the health of the tourism sector, which is vital for the local economy. The policy includes a waiver of various monthly taxes that tourism-related businesses typically owe, although it does not apply to value-added tax and income tax for the year 2024.
Additionally, the Cambodian government has decided to defer audits of tourism businesses in Siem Reap until June 2025. This decision provides a considerable reprieve for operators, allowing them to focus on rebuilding and enhancing their services without the immediate pressure of fiscal scrutiny. This supportive measure reflects the government’s commitment to nurturing a favorable environment for the sustainable growth of tourism, essential for the re.