The objective of an inter-ministerial proclamation, or prakas, endorsed on March 9, 2016 by Minister of Commerce Sun Chanthol, Minister of Economy and Finance Aun Porn Moniroth, and Minister of Mines and Energy Suy Sem, and obtained by the Ministry of Commerce, is to establish a formula that can be utilized to adjust retail gasoline prices in Cambodia in accordance with global market fluctuations. The fifth clause of the Prakas prohibits any retail gas station that sells petroleum products classified as regular or premium from doing so at a price that exceeds the amount calculated using the formula. Stations that fail to adhere to the stipulations outlined in the 5th Clause may face a penalty of up to 4 million Riel in fines, or face temporary closure of their operations.
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.
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