Logo of Phnom Penh Post newspaper Phnom Penh Post - GDCE revenue in Jan-Apr passes 31% of annual plan

GDCE revenue in Jan-Apr passes 31% of annual plan

Content image - Phnom Penh Post
The General Department of Customs and Excise (GDCE) said it collected ‘nearly $820 million’ of taxes in the first four months of 2022. Heng Chivoan

GDCE revenue in Jan-Apr passes 31% of annual plan

The General Department of Customs and Excise of Cambodia (GDCE) reported revenue of “nearly $820 million” in the first four months of 2022, exceeding 31 per cent of the target of around $2.58 billion set for this year.

The GDCE earlier said it had collected 2.4286 trillion riel ($597.6 million) in taxes in the first quarter – up by 2.5 per cent year-on-year – which director-general Kun Nhem told a recent press conference was 23.17 per cent of the annual target. He also affirmed that customs revenues last month were $5 million more than in March.

The 2021 Law on Financial Management had set last year’s target for GDCE revenues at $2.363 billion, down from the 2020 goal of $2.91 billion due to the expected knock-on effects of the Covid-19 pandemic.

But even as the Kingdom recovers from the pandemic, the GDCE appears to be revising down its revenue forecast for this year, prompted in large part by the unfolding Ukraine conflict, which will undoubtedly continue to cause major economic shocks around the world, Nhem indicated, revealing that the department still plans to collect at least $2.4 billion and is making plans for 2023.

Although noting that the economy is dependent on the regional and global landscape, he stressed that the GDCE will nonetheless do what it can to implement this year’s annual action plan in its original form, complemented by the government’s medium-term revenue collection strategy.

Hong Vanak, director of International Economics at the Royal Academy of Cambodia, underscored the importance of customs as a source of revenue for the national budget, saying that a dip in collection may very well hamper economic development, especially when it comes to short-term responses to Covid-related impacts.

“Customs revenue has played an important role in supporting the current expenditure of the state. An increase in customs revenue signals improvements in the flow of goods.

“We expect that the government’s decision to reopen the country, coupled with a boost in exports underpinned by [trade] pacts, will trigger an upturn in customs revenue to match or surpass this year’s plan, so that state coffers have enough funds for next year’s spending,” he told The Post.


  • Research key to Kanitha’s rep for expertise

    Sok Kanitha is used to weighing in on controversial issues using a confident approach that signals expertise and authority, and a recent video she made was no exception. Her “Episode 342: The History of NATO” video went live on January 16, 2023 and immediately shot to 30,000 likes and 3,500

  • Cambodia maintains 'Kun Khmer' stance despite Thailand’s boycott threat

    Cambodia has taken the position that it will use the term "Kun Khmer" to refer to the sport of kickboxing at the upcoming Southeast Asian (SEA) Games, and has removed the term Muay from all references to the sport. Despite strong reactions from the Thai

  • Knockout! Kun Khmer replaces ‘Muay’ for Phnom Penh Games

    Cambodia has decided to officially remove the word Muay from the programme of the 32nd Southeast Asian (SEA) Games 2023 in May. “Kun Khmer” will instead be used to represent the Southeast Asian sport of kickboxing, in accordance with the wishes of the Cambodian people. Vath

  • Artificial insemination takes herd from 7 to 700

    Some farms breed local cows or even import bulls from a broad for the purpose of breeding heavier livestock for meat production. One Tbong Khnum farmer has found a more efficient way. Hout Leang employs artificial insemination to fertilise local cows. Thanks to imported “straws”

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,

  • Capital-Poipet express rail project making headway

    The preliminary results of a feasibility study to upgrade the Phnom Penh-Poipet railway into Cambodia’s first express railway indicate that the project would cost more than $4 billion and would take around four years to complete. The study was carried out by China Road and