Install QuickBooks Desktop 2015



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Debits and Credits for Basic Accounting in Cambodia


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Withholding Tax

 The general withholding tax shall be determined as follows:

• Any resident taxpayer carrying on business and who makes any payment in cash or in kind to a resident paxpayer shall withhold, and pay a tax, an amount according to the below mentioned rates which are applied to the amount paid before withholding the tax:
  • The rate of 15 percent on:
    • Income received by a physical person from the performance of services including management, consulting, and similar services;
    • Royalties for intangibles and interest in minerals, and interest paid by a resident taxpayer carrying on business other than domestic banks and saving institutions to a resident taxpayer
  • The rate of 10 percent on the income from rental of movable and immovable
  • The rate of 6 percent on interest paid by a domestic bank or saving institutions to a resident taxpayer having a fixed term deposit account
  • The rate of 4 percent on interest paid by a domestic bank or saving institutions to a resident taxpayer having non-fixed term saving account
• The withholding in this article shall not apply to interest paid to a domestic bank or saving institution and to the payment of tax exempt income as stated in article 9(New) of this Law.

- Any resident taxpayer carrying on business and who makes any of the following payments to a non-resident taxpayer shall withhold, and pay as tax, an amount equal to 14 percent of the amount paid:

• interest,
• royalties, rent, and other income connected with the use of property;
• compensation for management or technical services that shall be determined by Prakas of the MEF;
• dividends.

QuickBooks Enterprise Accountant 2015

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Salary Tax 2018 Part 2

The tax on salary is a monthly tax imposed on salary that has been received within the framework of fulfilling employment activities. A physical person resident in the Kingdom of Cambodia is liable to the tax on salary for Cambodian source salary and foreign source salary. A non-resident physical person is liable to the tax on salary for Cambodian source salary. The enterprise which is the employer of an employee has the obligation to withhold tax before salary payment and pay this tax to the tax administration by the 20th of the month following the month in which the salary is paid. For a resident employee the tax on salary due is determined on the monthly taxable salary and is withheld according to the progressive tax rate as below: Monthly salary (Riels) Rate 1. 0 - 1,200,000 Rate: 0% 2. 1,200,001 - 2,000,000 Rate: 5% - 60,000 3. 2,000,001 - 8,500,000 Rate: 10% -160,000 4. 8,500,001 - 12,500,000 Rate: 15% - 585,000 5. 12,500,001 - upwards Rate: 20% - 1,210,000 For a non-resident employee the tax on salary is withheld at the rate of 20% of the amount to be paid before withholding. . This withholding tax is the final tax on salary for the non-resident receiving the salary. For fringe benefits, every month, the employer shall withhold and pay tax at the rate of 20% of the total value of fringe benefits given to all employees. The value of fringe benefits is the fair market value inclusive of all taxes.