AmCham Cambodia: Tax Event Updates and Audits! | The American Chamber of Commerce in Cambodia on Glue Up

The American Chamber of Commerce in Cambodia

Founded in 1996, The American Chamber of Commerce in Cambodia (AmCham Cambodia) supports, advocates and promotes forward-looking Public and Private Sector collaborations that contribute to the regional and global advancement of the Cambodian business environment, professional development and technological innovation in the overall achievement of meaningful, diversified economic growth.

Event Details

AmCham is excited to present what will be one of the "must-attend" tax events for 2022 on tax updates and audits. We have combined the two most popularly requested tax topics into one event and combined them with the brightest tax minds and sought after experts from both the General Department of Taxation and the private sector.

AmCham is honored to have His Excellency Kong Vibol, Delegate of the Royal Government in charge as Director General of General Department of Taxation, as the keynote speaker for the event. This in-person event, sponsored by DFDL and Hybrid Tax Global, will be held at Raffles Hotel Le Royal in Phnom Penh on September 28, 2022 from 8:00am to 12pm (registration from 7.30am).

Despite the impact of COVID during the last few years the Ministry of Economy and Finance and General Department of Taxation have continued at speed to modernize the Cambodian tax system. Some of the recent salient tax updates that will discussed during this event include:

VAT on E-Commerce,
Incentives for voluntary disclosures,
Related party loans,
ACAR annual filing,
Law on Investment incentives,
Flow meters for local beverage manufacturers

Tax audits continue to play a major role for the Royal Government of Cambodia to gather year on year increasing tax revenue. During the course of two panel discussions experts from the General Department of Taxation and the private sector will discuss the tax audit process and current common tax audit issues experienced by taxpayers in Cambodia. Topics will include:

The tax audit statute of limitations in Cambodia,
What supporting documentation is essential to be maintained by taxpayers,
The tax disputes appeal process and how it works,
Transfer pricing issues experienced in tax audits,
Trade discounts,
Common mistakes made by taxpayers concerning WHT, Tax on Salary and Specific Tax

The panel discussion will be followed by a Q&A session where you will have a chance to ask your questions and interact with the speakers.

In order to make this event successful and relevant for you, we invite you to submit your questions beforehand using the link provided below. https://forms.gle/273UPSV78Mx2boA66

Member price tickets are $30, including breakfast at Raffles

Non-member price tickets are $35, including breakfast

Tentative Agenda

7:30am-8:30am Registration, breakfast, and networking

8:30am-8:45am Opening remarks by Mr. Anthony Galliano, AmCham President

8:45am-9:15am Keynote address by His Excellency Kong Vibol, Minister Attached to the

Prime Minister, Delegate of the Royal Government in charge as

Director General of General Department of Taxation

9:15am-9:45am Recent Tax Updates by Mr. Clint O'Connell – Tax Partner at DFDL

9:45am-10:10am Coffee break

10:10am-11:00am Panel Discussion 1: E-Commerce

H.E. Mr. Ken Sambath, Deputy Director General of GDT
Mr. Lim Delux, Deputy Director General of GDT
Mr. Eng Ratana, Director, Department of Large Taxpayer
Mr. Clint O'Connell – Tax Partner at DFDL
Oknha KM Tan, Tax Partner Baker Tilley
Moderator: Mr. Anthony Galliano, AmCham President

11:00am-11:50am Panel Discussion 2: Transfer pricing and other key issues in tax audits

H.E Mr. Roth Mony, Deputy Director General of GDT
Mr. Eng Ratana, Director, Department of Large Taxpayer
Mr. Te Jeudi, Director, Department of Enterprise Audit
Mr. Traing Lay, Cheif of Bureau, Department of Enterprise Audit
Mr. Kieron Gaffney, Transfer Pricing Director
Mr. Clint O'Connell – Tax Partner at DFDL
Moderator: Mr. Anthony Galliano, AmCham President

Some issues to be discussed:

--Whole of Entity vs Single Transaction Approach: Benefits/Risks;

--Management & Technical Services: Common mistakes taxpayers make;

--Financial Instruments: Impact of Instruction 10979;

Land Holding Companies and land/property rental/lease rates;

--Royalties - What is a reasonable rate?

--Limited Risk Distributors - Post COVID issues.

11:50am-12:00pm Closing remarks by Mr. Anthony Galliano, AmCham President