Everyday.com.kh
Translated from Khmer by Soch
Real estate such as land, houses, constructions etc… that are built on land and that are valued more than 100 million riels ($25,000) will be subject to property tax. However, the tax rate is set at 0.1% only. Furthermore, agricultural land will not be subject to property tax. Officials with the tax department made this announcement during a property tax meeting held in Tuol Kok district on 07 June 2011. Chou Srun, the director of the tax department at the Tuol Kok district office, indicated that real estate valued at more than 100 million riels ($25,000) will be subject to property tax. Property tax revenue will not be used for anything other than for Phnom Penh city development.
4 comments:
First they encourage developments, now comes to the notorious proper tax.
Are there any special projects that the government planning, when time comes to collect this property tax revenue?
If a property value is $26,000, the tax will be $26, but what is the meaning of $26, per year, per 6 months or per month. I'm confused, can someone clarify it out?
$26 per year may be a small amount for overseas Cambodians, but for average Cambodians in the country it's a lot of money.
The value of the house DEPENDS on the appraiser. If you pay bribes to the appraiser, he lowers the value of the house. If you don't pay him bribe, he will increase the value of the house.
What about those huge multi-million dollars MEGA-mansion? How much taxes will the owners pay?
These cheap rich people will try to get away with it.
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