On October 31, 2024, the Ministry of Economy and Finance issued Instruction No. 026 MEF.SNN.GDT on Tax incentive for Enterprises Operating in Arts Sector. This instruction aims to extend the expired tax incentives provided by the Instruction No. 9549 dated June 4, 2019, which aimed to promote sustainability in the film sectors and other art performances. The instruction provides tax incentives as follows:
| Type | Suspension of taxes for 5 years (2024-2028) | |||
| Income Tax | Special tax on traditional performance services | 15% Withholding tax on royalties of intangible assets | 15% Withholding tax on services performed traditional artists | |
| Cambodian film production enterprises | √ | √ | ||
| Producing Cambodian traditional arts performance enterprises | √ | √ | √ | |
| Traditional Cambodian Artists | √ | |||
In order to receive these tax incentives, enterprises operating in the above sector must fulfill their obligations and comply with all other tax obligations.
The Ministry of Economy and Finance expects that all enterprises above comply and implement the guidelines diligently and effectively.
This tax update is brought to you by Davies SM Attorneys-at-law. For more information and guidance, contact our partners and explore the Library of Laws section on Aquarii’s online platform to stay informed on business and investment laws in Cambodia.
