On 31 October 2024, the Ministry of Economy and Finance issued Instruction No. 026 on Tax Incentives for Enterprises Involved in Art, continuing tax incentives and tax relief for businesses as follows:
HBS Law would like to inform every enterprise, including commercial enterprises, associations, and NGOs, that intends to employ foreign nationals in Cambodia in 2025 that, in accordance with Ministerial Proclamation No. 196 on Employment of Foreign Labour issued by the Ministry of Labor and Vocational Training (the “MLVT”) on 20 August 2014, the application period for the mandatory foreign employment quota 2025 is now open and will remain so until the end of November 2024.
On 7 August 2024, the Ministry of Commerce (“MOC”) and the Ministry of Post and Telecommunications jointly issued an Announcement on “Inclusion of Standardized QR Codes on Certificates of Incorporation, Which Can Be Verified through verify.gov.kh” to inform businesspersons that the MOC is now placing QR Codes on certificates of incorporation (“COIs”) issued by the MOC.
The Ministry of Information issued Prakas No. 084 on the Determination of Procedures, Rules, and Formalities in Managing the Advertisement of Alcohol Products (“Prakas No. 084”) on 23 July 2024. The new regulation aims to further control alcohol product advertisements with the stated intention to maintain social order, protect public health, mitigate negative economic, cultural, and traditional impacts, and promote fair competition in the Kingdom of Cambodia. A company with any existing alcohol advertisements must seek approval from the Alcohol Product Advertising Management Team by 23 October 2024 and with any new advertisements must seek approval prior to release.
On 11 March 2024, the Royal Government of Cambodia issued Sub-Decree No. 47 An.Pr.K on Patent Tax (the “Sub-Decree”). The Sub-Decree is intended to assist the Royal Government of Cambodia with the collection of patent tax from taxpayers who fall under the self-assessment regime.
INSIGHTS
In August 2015 HBS Law revealed its new website. The rebrand is designed to reflect HBS Law's position as a leading Cambodian law firm with an Asian regional reach.
"We are increasingly working with clients who have a presence throughout the region, as well as with foreign investors coming into Cambodia," says Mr Ly, Managing Director of HBS Law. "We are proud to offer honest, balanced services to our clients, acting as trusted business partners to help them succeed."