Taxation Structure Corporate Income Tax – As we can see in the chart below the standard Corporate Income Tax rate in Cambodia is 20%. In comparison to the other ASEAN countries it is one of the lowest and it is below the average ASEAN CIT rate which is 22%. Oil and Gas and a business of… Continue reading Taxation Structure
Ease of Doing Business and Corruption Ease of Doing Business Ranking – Since 2016, Cambodia has been falling in rankings in the World Bank’s Ease of Doing Business Global Index. The Kingdom currently ranks 144 out of 190 countries with a score of 53.8 which is only better than Myanmar and Laos in the ASEAN region.… Continue reading Ease of Doing Business
Government Structure and Society Cambodia is a constitutional monarchy and a multiparty liberal democracy with a unitary structure and parliamentary form of government. The country’s constitution was promulgated in 1993. According to the constitution, the king is the head of the state and is chosen from among royal descendants by the Royal Throne Council. Since… Continue reading Government & Society
Demographic Advantage Population – Cambodia being one of the smaller countries in the world is only the 71st most populous country having a current population of over 16 million people. Its population growth rate over the years has slowed down and currently stands at 1.4%. However, the country has managed to drastically reduce the percentage of its population below the poverty line… Continue reading Demographic Advantage
Historical Background Cambodia is a country that has faced civil war, genocide and political turmoil throughout its history. It has been influenced by many Asian countries, alongside France and the United States over the years and it was only until the 1990s that it regained its political autonomy. For 2000 years Cambodia’s civilization was mainly… Continue reading Historical Background
Business Etiquette Greeting –Laos people should be addressed by their first names, preceded by the title Mr. or Madame. If they occupy position of respect, “Than” used to address them. While handshakes are used, people also clasp their two hands and take a bow. Distributing business cards is encouraged. Different types of smiles are used to… Continue reading Business Etiquette
Digital Economy Internet Penetration Rate – The numbers post 2017 for the internet penetration rate aren’t available for Laos. As of 2017, the rate of Internet Penetration lies at 25.5%. From the following charts it is observed that Internet Penetration rate has grown substantially in the years 2010-2017. The economy has observed an increased from a mere 7%… Continue reading Digital Economy
Foreign Direct Investment Foreign direct investments in Laos stood at $208.1 million at the end of 2020, according to data provided by the Bank of the Lao PDR. FDI growth over time – The following graph depicts the FDI growth of Laos, as per the data obtained from Ministry of Planning and Development. In 2019, the… Continue reading Foreign Direct Investment
Taxation Structure Corporate Income Tax (CIT) – Profit tax is levied on income. Small and medium enterprises that are not registered under the Value Added Tax (VAT) system are subject to lump-sum tax instead of profit tax. This applies to enterprises which have annual revenue of less than LAK 12 million. A 24% profit tax rate… Continue reading Taxation Structure
Ease of Doing Business and Corruption Ease of Doing Business Ranking –Laos’s ease of business ranking depicts a complex and opaque business environment, with barriers to regional trade and integration that limit its attractiveness as an investment destination. Investors complain about high costs of doing business and the absence of a transparent, dynamic, and streamlined business… Continue reading Ease of Doing Business
