On January 6, 2023, Ministry of Economy and Finance issued Prakas No. 002 MoEF.Brk on extension to suspension of prepayment of income tax (PTOI) for enterprises in the textile and garment industry.
The Prakas applies to enterprises in the textile and garment industry that qualify as Qualified Investment Project (QIP) whose exemption period of income tax expires, including textile enterprises and enterprises producing garment and enterprises producing garment, footwear, bag and handbag and hat for export.
The temporary suspension of monthly PTOI shall be extended until the end of 2025.
To receive the suspension of monthly PTOI, enterprises shall comply with law and regulations of taxations as followed:
Read more here about 2016 Law Accounting and Auditing.
In the event that the enterprise fails to comply with above 3 conditions, the above suspension of monthly PTOI shall be revoked and the enterprise shall be punished in accordance with the law.
Advance Grand Formula Co., Ltd is licensed audit firm from Accounting and Auditing Regulator (ACAR Decision N0. 014), member audit firm of Kampuchea Institute of Certified Public Accountants and Auditors (license number C-00085) and tax agent from General Department of Taxation (license number TA202204002).
This Publication is intended for general guidance only and should not form the basic of specific decisions.
Should you need any further information or support, please contact us at: email@example.com (accounting), firstname.lastname@example.org (audit), email@example.com (tax) and number and telegram 085 36 8888 and 070 399 888.