Cambodia Taxation

Active Accounting Services Co.,LTD

Cambodia Taxation

January 3, 2019 Uncategorized 0

Monthly Tax Declaration

  • Engage you in a brief consultation to assess the most economical filing method, with the greatest benefit to you.
  • Review the Financial Transactions and identify tax obligation
  • Complete Sale, Purchase, Salary, and Withholding Tax Journal based on the forms provided by the General Department of Taxation
  • Calculate Tax on Salary, VAT, Withholding Tax, Salary Tax, Fringe Benefits and other relevant taxes
  • Complete all forms of monthly tax return and submit to Company’s management for review and approve
  • Make a payment to the Bank of the monthly tax obligation upon approval by the Company
  • Submit an approved monthly tax return to General Department of Taxation on behalf of the Company
  • Present a completed analysis and recommendation for the following month to maximize your tax return in the following month.

Annually Tax Return

  • Review audited report for the years ending 31 December Previous provided by the Auditors if available
  • Review the financial transactions (in soft copies) provided by the Company to find out the allowable or disallowable expenditures and to match with the Auditors’ report
  • Prepare tax adjustment including allowable and disallowable tax deduction
  • Calculate the allowable on interest expense, donation and depreciation on property, plants and equipment in accordance with the Law on Taxation (“LoT”)
  • Complete the schedule of tax accumulated losses carried forward
  • Calculate the schedule of tax special depreciation if applicable to the Company
  • Prepare and complete any other schedules in accordance with the LoT
  • Discuss with the Company’s management regarding to the cost of production treated by the Company and any other relevant information such as fixed assets register list, inventory list and other supporting documents to enable us to draw reasonable conclusions
  • Submit draft annual tax declaration for Company’s review and comments
  • Discuss and revise the draft and submit for final approval
  • Submit annual tax return for the years ending 31 December 20xN on the behalf of the Company to General Department of Taxation