Diploma in Cambodian Tax

1

Cambodian Tax System 1

1. Describe the function and purpose of taxation.
2. Discuss the principle sources of tax law, tax system and hierarchy of registration.
3. Describe the classification of taxpayers (i.e., physical persons vs. enterprise, resident vs. non-resident, and classification of taxpayers under the self-assessment regime)
4. Discuss the different types of taxes in Cambodia.

2

Cambodian Tax System 2

1. Explain the tax compliance status and benefits
2. Discuss on double taxation agreement (DTA).
3. Explain the difference between tax avoidance and tax evasion to be well prepare for tax planning.
4. Describe the GDT Structure

3

Tax on Salary 1

1. Understand the scope and nature of tax on salary (TOS).
2. Identify the tax residency status for ToS/FBT purposes vis a vis the “employer-employee” relationship
3. Identify the income subject to tax on salary for tax calculation.
4. Calculate the basic salary tax for employees in accordance with tax rules.
5. Understand the tax implication on the new pension fund scheme and its impact on the calculation of ToS and FBT
6. Understand the basis of seniority payment and its ToS/FBT implications
7. Understand the tax implication in the situation where the employers bear the ToS and FBT on behalf of the employees

4

Tax on Salary 2

1. Identify allowances, and items included/excluded in the ToS calculation

5

Tax on Salary 3

1. Describe the scope and nature of fringe benefits tax (FBT)
2. Identify the allowance, fringe benefits, reimbursements subject fringe benefit tax (FBT) for tax calculation.
3. Calculate tax for allowance, fringe benefits, reimbursements in accordance with tax rules.

6

Tax on Salary 4

1. Explain the conditions and computation of foreign tax credit to claim tax credit against tax on salary.
2. Calculate the foreign tax credit.
3. Analyze the ToS and FBT implication of a comprehensive transaction and compute the corresponding ToS and FBT payable.

7

Withholding Tax 1

1. Describe overview of withholding tax collection and payments.
2. Identify types of relevant income/payments subject to withholding tax for calculation of tax.

8

Withholding Tax 2

1. Compute the withholding tax based on tax rules.
2. Explain WHT implication for Dividend Distribution

9

Withholding Tax 3

1. Review the withholding tax overview.
2. Identify common withholding tax issues to avoid troubles during practice.
3. Understand the tax implications on WHT shouldered/paid on behalf of suppliers

10

Withholding Tax 4

1. Practice the withholding calculations.
2. Explain the WHT issues when the recipient receives a net amount for saving tax.
3. Explain the WHT tax rate reduction for DTA.
4. Explain the WHT tax rate reduction under specific regulations (e.g., equity/bond investments in the Cambodia Securities Exchange (CSX) sectors, and educational sector)
5. Identify the permitted exemption for WHT in claiming for exemption.

11

VAT 1

1. Describe the nature and scope of VAT.
2. Identify taxable supply and non-taxable supply to apply applicable VAT rate.

12

VAT 2

1. Explain Taxable person, Registration and Obligation to register for tax.
2. Discuss on cancellation of VAT Registration in accordance with tax rules.

13

VAT 3

1. Discuss the VAT registration process for business enterprise
2. Explain the time and place supply rules, rules of issue of a tax and commercial invoice, and calculate the VAT to be paid.

14

VAT 4

1. Discuss applicable VAT rate and tax base to calculate tax payable properly.
2. Discuss the rules on the issuance of Credit Notes and Debit Notes

15

VAT 5

1. Explain the Input and output taxes.
2. Discuss the creditable input tax and the non-creditable input tax for calculation of VAT payable.

16

VAT 6

1. Explain mixed taxable and non-taxable supply input tax to find out allowable VAT input credit.

17

VAT 7

1. Discuss the VAT refund procedure.
2. Explain conditions of a tax invoice in order to claim for VAT credit.
3. Explain the valuation of supplies and imports in order to calculate VAT on import.

18

VAT 8

1. Discuss VAT for real estate, free goods/service including the gifts and goods for personal use (own use) and international transport to apply for VAT on invoice.

19

VAT 9

1. Discuss zero-rating of the export of goods and services, VAT state charge and special treatment of VAT on transfer of a business.

20

VAT 10

1. Explain the adjustment of VAT amount and VAT carried forward or refunds for a company and investment enterprise.
2. Analyze the VAT implication of a comprehensive transaction and compute the corresponding VAT payable.

21

PToI 1

1. Explain the nature and scope of prepayment of income tax(PToI).
2. Discuss the definition of “turnover” and the transactions subject to PToI
3. Discuss the nature of PToI credits and the criteria/conditions for claiming PToI credits.

22

Tax on Income 1

1. Discuss nature and scope of tax on income.
2. Explain tax residency, self-assessment regime to be taxed on income.

23

Tax on Income 2

1. Explain tax rate, tax year, taxable profit/ incomes , deductible/non-deductible expense for basic calculation of tax on income.

24

Tax on Income 3

1. Discuss in detail the basis of taxable income (e.g., impact of accrual basis of accounting, advance collections and unearned revenue)
2. Discuss in details of deductible/non-deductible expenses for certain conditions.

25

Tax on Income 4

1. Explain loss on a claim, provision and prepaid expense, preliminary expense for calculation of tax on income.
2. Discuss the difference between provisions vs accruals for ToI purposes.
3. Discuss tax depreciation rules.
4. Explain taxation for leases and taxation on the transfer of Property, Plant and Equipment for the tax calculation.
5. Discuss the “180-day” rule on deductibility of unpaid salary, and unpaid related party expenses
6. Discuss deductibility criteria for taxes, penalties, and taxes paid on behalf/borne by the Company

26

Tax on Income 5

1. Calculate the allowable charitable contribution, limitation of interest expense.
2. Calculate the allowable/claimable taxable loss carried forward, including the criteria for claiming taxable loss.

27

Tax on Income 6

1. Explain the available tax credits to be deducted from the ToI payable:
   1. Local WHT Tax Credits
   2. Foreign Tax Credits
   3. PToI credits
   4. Advance Tax on Dividend Distribution
   5. Other tax credits/incentives (e.g., CSX incentives)

28

Tax on Income 7

1. Discuss the ToI implications on other industries:
   1. Explain briefly the QIP implications with regard to tax on income. (CC1)
   2. Explain briefly on taxable income for petroleum and mineral resource operation.
   3. Explain briefly on taxable income for NGOs and insurance companies. (CC1)
2. Discuss the special rules on ToI on other industries:
   1. Explain special depreciation (SD) for QIP
   2. Explain the tax loss rules including rules for petroleum and mineral resource operation.

29

Tax on Income 7

1. Discuss the ToI implications on other industries:
   1. Explain briefly the QIP implications with regard to tax on income. (CC1)
   2. Explain briefly on taxable income for petroleum and mineral resource operation.
   3. Explain briefly on taxable income for NGOs and insurance companies. (CC1)
2. Discuss the special rules on ToI on other industries:
   1. Explain special depreciation (SD) for QIP
   2. Explain the tax loss rules including rules for petroleum and mineral resource operation.

30

Tax on Income 8

1. Discuss the comprehensive computation of tax on income practical exercise.

31

Tax on Income 9

1. Discuss the comprehensive computation of tax on income practical exercise.

32

Tax on Income 10

1. Discuss the comprehensive computation of tax on income practical exercise.

33

Tax on Income 11

1. Discuss the comprehensive computation of tax on income practical exercise.

34

Tax on Income 12

1. Discuss general rules on capital gain and capital loss on sale of assets, shares and dividend transaction deductible and non-deductible taxes for tax on income calculation.

35

Tax on Income 13

1. Discuss general rules on capital gain and capital loss on sale of assets, shares and dividend transaction and deductible and non-deductible taxes for tax on income calculation.

36

Tax on Income 14

1. Discuss the general rules of capital gains and capital loss sale of assets, shares and dividend transaction and deductible and non-deductible taxes for tax on income calculation.

37

Public lighting tax

1. Explain and calculate the public lighting tax (PLT) in accordance with Cambodian tax rules.

38

Specific tax on certain merchandise and services/excise tax

1. Explain and calculate the specific tax (SPT) on certain merchandise and services/excise tax in accordance with Cambodian tax rules.

39

Accommodation tax

1. Explain and calculate the Accommodation Tax in accordance with Cambodian tax rules.

40

Immovable Property tax

1. Explain and calculate the tax on immovable property in accordance with Cambodian tax rules.

41

Stamp duty tax

1. Explain and calculate the stamp duty tax applicable on various transaction

42

Obligation of Taxpayers 1

1. Explain the registration and monthly and annual tax filing in accordance with tax rules.

43

Obligation of Taxpayers 2

1. Discuss on bookkeeping required by tax rules.
2. Discuss rules on submission financial statements required by the Accounting and Auditing Regulators (ACAR)

44

Obligation of Taxpayers 3

1. Discuss the rights of taxpayers, power of tax authority and tax audit procedures for the compliance with tax rules.

45

Obligation of Taxpayers 4

1. Discuss penalties and enforcement, system of tax payment and dates and procedures for appeals and disputes with tax authority.

46

Tax Avoidance,
Common Tax Issues, Errors, Disputes and Resolutions (1)

1. Identify common issues, errors and disputes regarding ToI, ToS, FBT, WHT, VAT, PToI, and documentary requirements.

47

Tax Avoidance, Common Tax Issues, Errors, Disputes and Resolutions (1)

1. Identify common issues, errors and disputes regarding ToI, ToS, FBT, WHT, VAT, PToI, and documentary requirements.

48

Review and Preparation for Final Exam.

49

Review and Preparation for Final Exam.

50

Review and Preparation for Final Exam.