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The Council of Ministers issued letter No. 252 dated February 27, 2023 to determine tax incentives to educational institutions.
Tax incentives
Public and private educational institutions are exempt from income tax, prepayment of income tax, minimum tax, value added tax, withholding tax on interest and dividends from 2024 to 2028. Educational Institutions are required to pay tax on salaries, withholding tax on rent, property tax and patent tax.
Obligations
The educational institution must fulfill the obligation to register the tax at the tax administration, record and maintain the correct accounting records, as well as submit the monthly and annual tax declarations in accordance with the law in force.
Punishment
In case of failure or delay in fulfilling the tax obligations, the educational institutions shall be subjected to various penalties, including fines and interest in accordance with the tax provisions in force.
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: accounting@advancegroupkh.com (accounting), audit@advancegroupkh.com (audit), tax@advancegroupkh.com (tax) and number and telegram 085 36 8888 and 070 399 888.
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