The Cambodian government has passed a bill on imposing the tax on capital gains. It will be levied on the resident individuals, non-resident individuals and non-resident legal persons. The resident legal persons in Cambodia are exempt from the capital gains tax, they are still required to remit the corporate income tax.

The tax rate will be fixed and constitute 20% of the taxable base. The tax base is composed of the gain on the sale or transfer of taxable capital. In this case, tax deductions can be applied. For deductions, the method of actual costs is applied.

Also, the law contains a list of items forming the taxable base. They include all types of residential and commercial real estate, lease and sublease contracts, securities, trademarks and intellectual property. Also, the capital gains tax is also levied on foreign currency, except for the local one – Cambodian riel.

Law & Trust law firm offers its services to clients working in Cambodia. The lawyers of our company will tell in detail about the specifics of a new tax on the territory of this country as well as will help to prepare for imposition of the capital gains tax.

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