You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

April 10, 2020

Cambodia Issues Tax Relief Measures for Textile and Garment Enterprises to Mitigate EBA Suspension

Subscribe to Updates

On March 24, 2020, Cambodia’s Ministry of Economy and Finance issued Prakas No. 319 MoEF.Br.K on Tax Measures to Mitigate the Effect of Challenges on Textile and Garment Enterprises.

This prakas provides income tax exemptions to factories and enterprises in the textile, garment, footwear, bag, handbag, and hat sectors that are affected by the partial suspension of the European Union’s Everything but Arms (EBA) preferential tariff scheme.

Companies will receive an income tax exemption for the 2020 tax year based on how the partial suspension of EBA has affected their business. The formula for determining the level of the effect is set out below:

In order to qualify for the above income tax exemptions, companies must submit documentary evidence to quantify the effect of the partial EBA suspension to the General Department of Taxation when submitting their annual income tax returns.

For more details on this tax relief measure, or on any aspect of conducting business in Cambodia, to Tilleke & Gibbins at [email protected].

Related Professionals

Practices

Tax

Location

RELATED INSIGHTS​ 

February 27, 2017
The Thailand chapter of Practical Law Company’s recently published Agricultural Law Global Guide  was written by lawyers from Tilleke & Gibbins. The guide provides a comparative overview of agricultural law in 24 jurisdictions across six continents, and covers the following topics in an easy-to-follow Q&A format:
Read More
February 6, 2017
Attorneys from Tilleke & Gibbins have written the Vietnam chapter of Practical Law Company’s Doing Business in … Global Guide, an essential handbook for businesses looking to expand their operations abroad. The guide provides a practical overview of the legal system in more than 50 jurisdictions worldwide, with the Vietnam chapter including the following main subjects:
Read More
January 24, 2017
The 2017 edition of Doing Business In…, a Q&A-style guide published by Practical Law Company in collaboration with Lex Mundi, presents an overview of recent legal developments affecting doing business in 51 jurisdictions worldwide. The Thailand chapter of the guide was written by attorneys from Tilleke & Gibbins and presents an overview of Thailand’s legal system and key laws applicable to foreign companies doing business in the Kingdom. The chapter specifically covers the following main topics:
Read More
January 14, 2017
Franchising experts from Tilleke & Gibbins’ corporate and commercial group have contributed the Vietnam chapter to International Franchising, Second Edition (Release 5, 2016), a guide to franchising law and practice in 34 countries in North and South America, Europe, Asia, and Africa. The chapter provides an overview of the following main subjects:
Read More