This list is a must for foreigners and/or registered companies to remain compliance in Cambodia. Please feel free to come to our new office for a free 30-minute consultancy for any service we offer.
First Floor, #809, Kampuchea Krom Blvd (128), Sangkat Tuek Laak 1, Khan Toul Kork, Phnom Penh
Contacts
-Office Phone: (+855)23220203, for a quick and basic questions and answers with our management team
-Inquiry@makingiteasycambodia.com, for any inquiries to be replied to within 24 hours during office hours
-Open: Monday-Friday | 8:00am-5:00pm
-Closed: Weekends and Cambodian Public Holidays
First Floor, #809, Kampuchea Krom Blvd (128), Sangkat Tuek Laak 1, Khan Toul Kork, Phnom Penh
Contacts
-Office Phone: (+855)23220203, for a quick and basic questions and answers with our management team
-Inquiry@makingiteasycambodia.com, for any inquiries to be replied to within 24 hours during office hours
-Open: Monday-Friday | 8:00am-5:00pm
-Closed: Weekends and Cambodian Public Holidays
1. Foreigner Work Permit Renewal
According to the Cambodian Labor Law, Articles 261, 264, 265 and Prakas No. 196, dated August 20, 2014; all foreign nationals working and/or holding E-Business (multiple entries) Visa in the Kingdom of Cambodia are required to hold a work permit. For those holding a work permit from 2018, the time to renew your work permit is January 1 to March 31, 2019. Late work permit renewal is subject to a penalty of $900 USD.
2. Enterprise Registration
All registered businesses in the Kingdom need to apply for an enterprise registration with the Ministry of Labor and Vocational Training once employee(s) has been hired.
3. Quota/Employee Registration
All registered businesses in the Kingdom need to register their foreign employee(s) with the Ministry of Labor and Vocational Training between September 1 and November 31, 2018 if the company plans to employ them in 2019.
4. National Social Security Fund Registration
All registered businesses in the Kingdom need to apply for a National Social Security Fund for their employee(s) once employees have been hired. Applications should be submitted to the Ministry of Labor and Vocational Training.
5. Annual Tax On Income (TOI) Return
All registered businesses in the Kingdom need to file annual TOI returns between January 1 and March 31 2019 for the fiscal year 2018. Late returns are subject to obstacle penalties according to the following formula ($500 obstacle penalty +10% total penalties values + 2% monthly interest rate).
6. Monthly Tax Return
All registered businesses in the Kingdom need to submit return taxes monthly between the 1st and the 20th of the month for corporate taxes from the previous month.
Late returns are subject to obstacle penalties according to the following formula ($500 obstacle penalty +10% total penalties values + 2% monthly interest rate).
7. Patent Renewal
All registered businesses in the Kingdom need to renew their patent certificates annually between January 1 and March 31 of each year. Late returns are subject to obstacle penalties according to the following formula ($500 obstacle penalty +10% total penalties values + 2% monthly interest rate).
8. Annual Company Declaration
All registered businesses in the Kingdom need to declare a company update with the Ministry of Commerce every year by the incorporated date stated on the company registration certificate. Late updates are subject to obstacle penalties for $500 per year if the business owner fails to do this by the expiry date stated on the email reminder.
9. Change of Shares, Decrease/Increase of Shares
Business owners must first submit requests to the Ministry of Commerce. After the requests have been approved, the business owner needs to update the General Department of Taxation within 15 days.
10. Change of Shareholder, Business Activity, Name, Address, and Articles of Incorporation
Business owners must first submit requests to the Ministry of Commerce. After the requests have been approved, the business owner needs to update the General Department of Taxation within 15 days.
11. Business Closure
In order to properly close a business in the Kingdom of Cambodia, business owners need to first submit the business closure request to the Tax Branch where monthly tax returns are submitted, then the General Department of Taxation and last is the Ministry of Commerce. If owners fail to complete these steps, they remain corporate taxpayers and are subject to penalties.
According to the Cambodian Labor Law, Articles 261, 264, 265 and Prakas No. 196, dated August 20, 2014; all foreign nationals working and/or holding E-Business (multiple entries) Visa in the Kingdom of Cambodia are required to hold a work permit. For those holding a work permit from 2018, the time to renew your work permit is January 1 to March 31, 2019. Late work permit renewal is subject to a penalty of $900 USD.
2. Enterprise Registration
All registered businesses in the Kingdom need to apply for an enterprise registration with the Ministry of Labor and Vocational Training once employee(s) has been hired.
3. Quota/Employee Registration
All registered businesses in the Kingdom need to register their foreign employee(s) with the Ministry of Labor and Vocational Training between September 1 and November 31, 2018 if the company plans to employ them in 2019.
4. National Social Security Fund Registration
All registered businesses in the Kingdom need to apply for a National Social Security Fund for their employee(s) once employees have been hired. Applications should be submitted to the Ministry of Labor and Vocational Training.
5. Annual Tax On Income (TOI) Return
All registered businesses in the Kingdom need to file annual TOI returns between January 1 and March 31 2019 for the fiscal year 2018. Late returns are subject to obstacle penalties according to the following formula ($500 obstacle penalty +10% total penalties values + 2% monthly interest rate).
6. Monthly Tax Return
All registered businesses in the Kingdom need to submit return taxes monthly between the 1st and the 20th of the month for corporate taxes from the previous month.
Late returns are subject to obstacle penalties according to the following formula ($500 obstacle penalty +10% total penalties values + 2% monthly interest rate).
7. Patent Renewal
All registered businesses in the Kingdom need to renew their patent certificates annually between January 1 and March 31 of each year. Late returns are subject to obstacle penalties according to the following formula ($500 obstacle penalty +10% total penalties values + 2% monthly interest rate).
8. Annual Company Declaration
All registered businesses in the Kingdom need to declare a company update with the Ministry of Commerce every year by the incorporated date stated on the company registration certificate. Late updates are subject to obstacle penalties for $500 per year if the business owner fails to do this by the expiry date stated on the email reminder.
9. Change of Shares, Decrease/Increase of Shares
Business owners must first submit requests to the Ministry of Commerce. After the requests have been approved, the business owner needs to update the General Department of Taxation within 15 days.
10. Change of Shareholder, Business Activity, Name, Address, and Articles of Incorporation
Business owners must first submit requests to the Ministry of Commerce. After the requests have been approved, the business owner needs to update the General Department of Taxation within 15 days.
11. Business Closure
In order to properly close a business in the Kingdom of Cambodia, business owners need to first submit the business closure request to the Tax Branch where monthly tax returns are submitted, then the General Department of Taxation and last is the Ministry of Commerce. If owners fail to complete these steps, they remain corporate taxpayers and are subject to penalties.
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