This course aims to develop advance level knowledge and skills relating to the Cambodian tax system as applicable to individuals and companies. The course on basic Cambodian Tax (ACCT 551) is a prerequisite for this subject as this course aims to leverage the basic tax knowledge gained under ACCT 551 and applying these into practice and case studies.
This course is also suitable for tax professionals, providing tax services in Cambodia as a tax agent, advisor, or as an employee handing the tax compliance requirements of the business. There are four main goals: First, students will use the advance knowledge gained from the class to make detailed analysis as to what Cambodian tax(es) applies to non-routine and complex transactions carried out in Cambodia. Second, students will be able to determine the tax liabilities and how to remit the taxes to the Cambodian tax authority. Third, students will be able to apply the knowledge gained on making tax planning techniques for individuals and companies. Fourth, students will be able to analyze and prepare strategies for managing tax issues, including managing the tax risk during tax audit events.
This course introduces candidates to the subject of taxation and provides broaden and deepen knowledge and skills relating to Cambodia taxation, as they affect the activities of individuals and businesses.
In this course, candidates are introduced to the rationale behind and the functions of the tax system. The course then considers the separate taxes that an accountant and consultants would need to have a deepen knowledge of corporation tax liability withholding tax, and the value added tax liability as well as capital gain tax, double taxation agreements (DTA), transfer pricing rules, tax audit and protest procedures.
The Cambodian tax system is still developing and personal income tax has been introduced in Cambodia under 2019 Financial Law but it has not yet implemented However, the Capital Gains Tax, which is a part of personal income tax will be discussed in details in this course how it impacts individuals. In addition, withholding tax is one of the mechanisms used by the government of the developing countries to collect tax revenue from non-tax registered persons, and Cambodia is no exception. However, the withholding tax rate will be adjusted for residents of countries that have a DTA with Cambodia. In such circumstances, candidates develop knowledge and skills in regards to “withholding tax as well as tax reductions under the DTAs”. Furthermore, the course will introduce to a transfer pricing method used by the multi-national companies for related party transactions.
Having covered the core areas and deepen analysis of the Cambodia taxes, the candidate should be able to identify tax issues impact individuals and companies, compute tax liabilities, and manage tax planning techniques for that individual and companies.
Credits: 5
Lecture Hours: 75
| Self-Study Hours: | |
|---|---|
| Reading | 50 (273 pages of lecture notes) |
| Review | 70 (quizzes, homework, past exams) |
| Assignment | 40 (research, writing) |
| 160 | |
Total Study Hours: 235
Prerequisites
Students must have successfully completed Cambodian Tax (ACCT 551) and passed the Diploma in Cambodian Tax exam.
The learning outcomes for this course cover the three main areas: Understanding of Cambodian tax system and analyzing how taxes would impact individuals or companies, doing own calculation of individual/company’s tax liabilities and remit taxes to the Cambodian tax authority, and applying tax planning techniques for individuals and companies as well as being in compliance with Cambodian tax regulations. On successful
completion of this course students should be able to:
| Level of Learning | PLO | CLO | Learning Outcome |
|---|---|---|---|
| Understand | PK3 | CK1 | Apply the knowledge and understanding of the Cambodian tax system through the study of more advanced topics and complex transactions |
| Understand | Understand the tax rules applicable to specific industries and for taxpayers with special fiscal/tax incentives | ||
| Understand | PK3 | CK2 | Understand internationally accepted tax principles and practices (e.g., tax treaties, international tax model conventions, transfer pricing models), and how this will impact the tax compliance obligations in Cambodia. |
| Level of Learning | PLO | CLO | Learning Outcome |
|---|---|---|---|
| Analyze | PC4 | CC1 | Evaluate the impact of taxes applicable to payments and transactions with resident and non- resident taxpayers include the interaction of taxes |
| Analyze | PC4 | CC2 | Manage the corporate income tax liability. |
| Analyze | PC4 | CC3 | Compute and analyze the applicable tax on investments and divestments (e.g., sale and purchase of assets, business, equity, bonds, etc.) in Cambodia. |
| Analyze | PC4 | CC4 | Provide advice on minimizing and for deferring tax liabilities. |
| Analyze | Analyze tax implications on complex transactions and identify options/strategies to minimize tax |
| Level of Learning | PLO | CLO | Learning Outcome |
|---|---|---|---|
| Apply | Understand the GDT system applicable for tax filing obligations (e.g., E-filing process, E-DTA request, etc.), and the relevant processes/recourse that can be applied in actual work situations. |
| Level of Learning | PLO | CLO | Learning Outcome |
|---|---|---|---|
| Apply | PIP1 | CIP1 | Lead a team professionals of finance, accounting, audit or tax in ensuring tax compliance related issues such as tax audits and appeals. |
| Apply | Understand the roles and responsibilities of both the taxpayers and the GDT and how to manage such relationship during tax audits. | ||
| Apply | PIP2 | CIP1 | Manage ethical dilemmas and ethical challenges that arise with tax issues. |
This course is primary lecture and assignment based; assigned readings will support learning and serve as a reference to materials covered in class. During class, approximately one hour and 45 minutes of the total class will be devoted to lecture with another 45 minutes of the class will be for practices and quizzes.
Grades will be determined based on a grading score, calculated using the following
assessments and score allocations:
| Assessment | Weight of each assessment | Learning Outcome Assessed | ||||
|---|---|---|---|---|---|---|
| CLO | PLO | |||||
| Participation | 10% | CK1, CK2, CC1, CC2, CC3, CC4, CIP1 | PK3, PC4, PIP1, PIP2 | |||
| In-class tests | 20% | CC1, CC2, CC3, CC4, CIP2 | PC4, PIP2 | |||
| Assignments | 30% | CC1, CC2, CC3, CC4, CIP1 | PC4, PIP1 | |||
| Simulation | 10% | All CLO | All PLO | |||
| Final exam | 30% | CK1, CK2, CC1, CC2, CC3, CC4, CIP2 | PK3, PC4, PIP2 | |||
| Total grading score | 100% | |||||
There is one project for the course.
| Project | |
|---|---|
| Work Group: | Individual |
| Output format: | Determined by lecturer |
| Language: | English |
The course targets the 50 sessions in the study plan below. Each session is 1.5 class hours each; there are a total of 75 class hours. The study plan below describes the learning outcome for each lesson, described in terms of what the student should be able to do at the end of the lesson. Readings should be done by students as preparation before the start of each class. Implementation of this study plan may vary somewhat depending on the progress and needs of students.
The Syllabus: