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GDT’s tax collection unfazed by Covid
Thu, 17 December 2020
The General Department of Taxation (GDT) rode out the challenges presented by the Covid-19 pandemic and the downturn in the regional and global economies to reach nearly 95 per cent of its annual revenue collection target as of December 16.
This represents $2.697 billion in tax revenue out of the $2.850 billion target set in the 2020 National Budget Law, GDT director-general Kong Vibol said in a live broadcast on December 17.
“While we faced impact from Covid-19 that has squeezed businesses, the revenue that we’ve collected is the result of sound business in 2019.
“The business owners who earned tidy sums in 2019 declared them in their tax returns in 2020. And I’ve kept tabs on the trend in revenue each month – we are still doing well. This translates into high revenues for us this year.
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The Kingdom’s economy is projected to return to four per cent growth next year. YOUSOS APDOULRASHIM
World Bank: Economy to rebound in 2021
Wed, 16 December 2020
Cambodia s economy is projected to return to four per cent growth next year, the World Bank said, citing an improvement in economic activities and the effective implementation of the government’s intervention measures to keep the economy afloat amid Covid-19.
But it kept its September projection for the Kingdom’s economic contraction this year at two per cent, according to
Restrained Recovery, the World Bank’s latest economic update for Cambodia published on December 16.