Phnom Penh: Government with Ministry of Economy and Finance Guidelines on tax adaptation measures to reduce the impact on hotels and guesthouses in Siem Reap and the real estate sector Property tax exemption for real estate or residential property of all types, asking price or less than $ 70,000.

The Government has decided to reduce the impact on the hotel and guesthouses and the real estate sector, the Ministry of Economy and Finance said. The Directive implements a number of tax measures. Taxpayers who are doing business in the hotel and guesthouse located in Siem Reap have to be taxed. The tax obligation is exempt from the monthly tax exemption for all periods from February to May 2020. Free from the full audit of the year 20 20 for the hotel and guesthouses in Siem Reap. The taxpayer who receives the monthly tax payment as stated above shall file a monthly statement and use the system Online for the management of VAT as usual and the usual 2019 income tax return and tax return is required.

According to the Ministry of Economy and Finance, the tax exemption on transfer of ownership or tenure of all types of residential property is the transfer of ownership or tenure. Property worth less than $ 70,000 is subject to the excise tax exemption on homes that meet the requirements: