The deadline for 2024 annual property tax payments in Cambodia is September 30. Post Staff
Real estate experts and economists have claimed that awareness and understanding of property tax obligations in Cambodia have shown continuous improvement as the deadline for paying the 2024 annual property tax approaches at the end of September.
Property tax collection is generally conducted annually between June and September, except during the global Covid-19 pandemic, when the deadline was extended to the end of October.
On September 19, the General Department of Taxation (GDT) issued a notice reminding all taxpayers to fulfil their obligations before the deadline.
“There are only about 11 days left until the property tax deadline for 2024, which falls on September 30. Property owners who fail to declare and pay their property taxes on time will face administrative penalties in accordance with the law and existing regulations,” the GDT stated.
It further clarified that properties that have already been registered or had their information updated can declare and pay taxes either directly or online. However, properties that have not been registered or updated must be processed at the GDT or at provincial or district tax branches where the property is located, along with the required legal documents.
Sam Soknoeun, president of the Global Real Estate Association and chairman of SAM SN Group, told The Post on September 19 that property owners' understanding of tax payments has advanced considerably compared to more than 10 years ago.
He emphasised that awareness of obligations and the payment process is crucial for helping the government generate revenue to develop the country and stimulate economic growth.
“Tax revenue, including property tax, is a key source of government revenue for developing the country and building various types of infrastructure,” he said. “The willingness of property taxpayers [to meet their obligations] has significantly improved.”
However, based on his more than a decade of experience as a real estate expert, Soknoeun acknowledged that the procedures for tax collection are still not particularly efficient or convenient for property owners.
He noted that some owners face difficulties completing the necessary paperwork, often requiring assistance from agents or service companies.
“I urge the GDT to further streamline the procedures,” he suggested.
Hong Vanak, an economist at the Royal Academy of Cambodia, said that the authorities’ promotion of tax obligations and increased public awareness have contributed to a steady rise in property tax revenue. He emphasised that this income is a critical source of funds for any country’s economy.
He added that, in addition to business taxes, the real estate industry is an important contributor to tax revenue. However, he pointed out that the current property tax collection process lacks clarity and transparency, particularly regarding changes in building classifications, heights and land use.
"Property taxes will increase once the government completes the registration of land and buildings nationwide. Currently, we have the laws and procedures, but enforcement and full participation of taxpayers are not yet 100 per cent effective,” he said.
