On 31 July 2024 the General Department of Taxation (“GDT”) issued Notification 27199 reminding property owners of their annual obligations with respect to Tax on Immovable Property (“TOIP”). The deadline for the 2024 TOIP is Monday the 30th of September 2024.
The 2024 TOIP can be paid and submitted at any tax branch or any branches of the following banks: Canadia, ACLEDA, Vattanac, CAMPU, ABA, J Trust Royal, Cambodia Post, Sathapana or Foreign Trade Bank.
Those already registered for TOIP need to produce their 2023 tax payment receipt or Property Tax Registration Identification Card when paying this year’s tax.
The TOIP rate is 0.1% and applies on an annual basis to all immovable property which has an assessed value exceeding KHR 100 million (approximately USD 25,000).
Taxpayers can use the e-Tax Service on the GDT’s official website www.tax.gov.kh to pay TOIP online by using the online payment platforms or the mobile apps of the above listed banks.
Taxpayers may also now pay their TOIP using the GDT Taxpayer App along with the ABA Mobile App. Taxpayers are required to select ABA PAY on the payment screen of the GDT Taxpayer App, and ABA Mobile will automatically launch on the customer’s smartphone screen to process the payment using the ABA app.
Please note that any failure to pay TOIP on time may trigger penalties as per the tax regulations.
In previous years the General Department of Taxation have extended the due date however there is no guarantee that an extension will apply this year and so with that in mind property owners should try and make payment on or before 30 September 2024.
Unused Land Tax
Unused land tax is imposed on a vacant block of land without any building or the land on which there is only abandoned building, in some cities or in some regions determined by the committee for evaluation of unused land. Such unused land tax shall be paid on an annual basis by the proprietors at the rate of 2% calculated on the price per square-meter of the land depending on the region at a market value determined by the Land Appraisal and Valuation Committee.
Unused Land Tax is also payable, at the latest, by 30 September every year. However, as part of the tax incentives announced by the Government during the 19th Government-Private Sector Forum on 13 November 2023, the unused land tax has been suspended through to 31 December 2024, which means that a land’s owner, occupant, or final beneficiary has no obligation to declare the unused land tax through to 31 December 2024. The Ministry of Economy and Finance (“MEF”) will issue a regulation and instruction, providing transition rules in view of implementation of unused land tax from 2025.
