The government has announced tax exemption for tourism-related businesses operating in Siem Reap province. The tax break will be in effect until June 2025 aimed to support the recovery of the tourism sector.
The announcement was made by the Ministry of Economy and Finance dated on October 10, but was publicly released yesterday.
The decision comes as part of the government’s ongoing efforts to support the recovery of the tourism sector, which was heavily impacted by the Covid-19 pandemic. Siem Reap, home to the world-famous Angkor Wat temple complex, is a major tourist destination and plays a crucial role in the country’s economy.
“The tax exemption is expected to provide significant relief to tourism businesses in Siem Reap, allowing them to reinvest in their operations and expand their offerings,” read the statement.
This will help to attract more visitors to the province and contribute to its economic growth, the statement added.
Prime Minister Hun Manet has recently said that in relation to tourism, especially in Siem Reap, there are still some important tasks that need to be addressed to help promote tourism there, in addition to the relevant tax rules and tour guides.
The Premier added that the working group is studying and evaluating tourism activities and services that encourage tourists to visit Siem Reap as a priority for receiving this special exemption from the government.
“In order to continue to help ease the burden of operators in the tourism sector and restore tourism in Siem Reap, today I have decided to extend the validity of the same exception for one more year,” he said.
In addition to the tax exemption work, the government has also provided $50 million through SME banks to provide loans, especially to tour operators in Siem Reap, he added.
Cambodia received 4.29 million foreign visitors in the first eight months of 2024, up 22.5 percent from 3.5 million over the same period last year, said a Ministry of Tourism report.
Cambodia’s famed Angkor Archeological Park received 699,850 foreign tourists in the first nine months of this year, a year-on-year increase of 20 percent from 539,561 during the same period last year.
- Tags: Siem Reap tourism
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