1. Annual turnover starting from 4,000 million riels (Approximately USD 1,000,000)
2. An average of the Company’s assets starting from 3,000 million riels (Approximately USD 750,000)
3. An average of the Company’s employee exceeds 100 people

• Not for profit organization: Meet two criteria as follows, the NGO is required to be audited by an Independent Auditor registering in the list of KICPAA:

1. Annual turnover starting from 2,000 million riels (Approximately USD 500,000)
2. An average of the NGO’s employee exceeds 20 people

Audit is required to finish within six (6) months after the financial year ending and submitted to NAC within 6 months and 15 days of the financial year ending.

Prakas 563 _ Enterprise subject to external audit

Dear Readers

Every year, we always have annual retreat that bring our team to the place we have never been before,

Thanks for reading our newsletter as attached below,

PAT Professional Limited

News Letter-Retreat 2019

With the 2019 year ending has been on the way to come it is now time for enterprise in Cambodia to turn your attention to annual compliance obligation. We would like to remind all obligation for your information.

We are attaching the detail information per your consideration.
In order to avoid penalties and loss of investment incentive we can assist with preparing and filling your annual obligation.

For any further information regarding this, please do not hesitate contact us to discuss.

PAT Professional Team

Attached:PAT – client reminder for the year ending 31 December 2019

We have moved our to a bigger space from 1 December 2017.

Our new address: Time Tower, 4th floor, 402, St. 271, Sangkat Toul Tompong II, Khan Chamkarmorn, Phnom Penh

Please contract through 023 967 156

PAT Professional Team

Thanks for reading our newsletter below.

PAT Team Member

PAT_ Newsletter

As per notification No. 4391, monthly tax exchange rate for September 2017 are:

Salary: USD 1 = KHR 4029

Other: USD 1 = KHR 4033

For your information,

PAT Professional Team,

Download:

Nov _ 2017 _ Monthly tax exchange rate

In addition to the minimum wage, other benefits are given to worker same to the year 2017 such as USD 7 for transportation and accommodation, USD 10 for attendance incentive, USD 0.5 per day for overtime food allowance, and seniority from USD 2 to USD 11 per month for worker working from 2 years to 11 years.

Download:

Nov _ 2017 _ Minimum wage

PAT Professional Team

Objective of the Prakas, as per Prakas, is to determine pricing level between related party’s transactions.

Related party, as per Prakas, refer to:

• Member of the same immediate family
• An enterprise or individual who control or be controlled by taxpayer or who is jointly controlled by the same taxpayer. Control here refers to having of 20% of share capital or equivalent to voting right in the taxpayer’s Board of Director.

Five methodologies endorsed by the Prakas are in line with those set out by the Organization for Economic Co-operation and Development (“OECD”).

• Comparable uncontrolled price – CUP
• Resale Price Method – RPM
• Cost plus Method – CPM
• Transaction Net Margin Method – TNMN
• Profit Split Method – PSM

Each method has been elaborating in the Prakas as well.

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Oct _ 2017 _ Transfer pricing

1) Importer & Manufacturer: Tax base is equal to the value per invoice including of all taxes except VAT and PLT.
2) Distributor: Tax base is equal to 20% of value per invoice including of all taxes except VAT and PLT.

The rate of PLT is remaining unchanged.

Illustration:

Importer & Manufacturer: Selling per invoice including of all taxes is USD 1,200.

Tax base = 1,200 /1.1/1.03 = 1,059.14
PLT = 1,059.14 *3% = USD 31.77

Distributor: Selling per invoice including of all taxes is USD 1,500.

Tax base = 1,500 *20%/1.1/1.03 = USD 264.78
PLT = 264.78 * 3% = USD 7.94

Note: Please kindly notes that PLT is applied for the supply of the following:

a. Alcohol product:
– Beer
– Fresh grape wine including grape wine which already adding alcohol
– fresh grape wines prepared with the help of plants or flavored substances,
– Other ferment beverages except palm tree wine and white wine
– Alcoholic strength by volume of 80% of higher
b. All kinds of cigarettes and cigars including electronic cigars.

PAT Professional Team

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Oct _ 2017_ Change tax base on PLT

General Department of Taxation has announced to delay the obligation of remitting immovable property tax up to 31 October 2017. Please be ready to remit your obligation by that date, otherwise, the penalty will be imposed by GDT.

PAT Professional Team

Download:

Sept 2017_ Delay of IPT