Cambodia entrepreneurs faced considerable problems when it came to
obeying tax laws and other regulations, officials at a seminar about that very
subject said yesterday.
The VDB Loi company organised the
seminar on “New Practices and Preferential Trade Rules” with the co-operation
of the General Department of Customs and Excise of Cambodia to raise awareness
of new tax rules among businesspeople in Cambodia.
VDB Loi director Sim Laysym said
the company, which was established in March this year and has six countries’
networking in Southeast Asia, would provide legal consulting services on
customs and excise laws, commercial laws and how to do business in Cambodia.
He said that even though the
Cambodian customs and excise law was adopted in 2007, there were few
businesspeople who knew clearly about it – and even those who did, didn’t know
how to benefit from the law.
“We want to tell exporters and
importers what the laws say,” Laysym said, adding: “If they know more, they can
prepare themselves ahead of the ASEAN economic community as well.”
Seminar participants from the
private sector included those concerned with importing and exporting
activities, members of the garment sector and customs brokers.
“We tell them about the
regulations on importing and exporting goods, which are easy and encourage them
to comply with the laws to reduce waiting times and other unofficial fees
stemming from their business activities,” Laysym said.
Understanding of the tax laws was
still limited among Cambodian businesspeople because of little exposure in the
media and by other means, he added.
Rann Reuy
Business & Investment Opportunities
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