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Mar 03, 2014

Client Alert: Annual Patent Tax Filing Deadline and Annual Declaration & Tax on Profit Reminder


By Daniel Noonan and James Roberts

All registered businesses must pay a (relatively nominal) Patent Tax on initial business registration and annually thereafter.  The Patent Tax is levied with reference to prior year turnover or estimated turnover.
 
The deadline of annual Patent Tax renewals for registered businesses in Cambodia is March 31, 2014 and must be paid at the General Department of Taxation.
 
The Annual Declaration of Commercial Enterprise for the Year 2013 for each company or partnership must also be filed with the Ministry of Commerce.
 
Sciaroni & Associates can assist you with completing your Annual Declaration and your company’s annual Patent Tax renewal for a fee of USD$350 per Declaration and USD$350 per Patent Tax Certificate.  Our fees are exclusive of VAT (10%) and government filing fees.
 
If you would like  our assistance with these filings, please email Dan Noonan, Corporate & Commercial Practice Group Head: dan@sa-asia.com
 
Please also note that annual Tax on Profit returns must also be made before March 31st, 2014.  If you would like Sciaroni & Associates to assist with filing your returns, please email James Roberts, Head of our Taxation Practice Group : james@sa-asia.com
 
For investment companies with QIP status, the annual Certificate of Compliance is also required to be requested from the CDC within 90 days following the year end for all QIP companies.
 
The Certificate of Compliance is an essential requirement for QIP companies to maintain their investment incentives and failure to obtain a Certificate of Compliance may result in the loss or suspension of investment incentives.
 
We can assist you to apply for the Certificate of Compliance . If you would like us to assist, please email to either dan@sa-asia.com or james@sa-asia.com
 
Corporate & Commercial Practice Group
 
Sciaroni & Associates expatriate and Cambodian advisors and paralegals have extensive experience in handling all aspects of commercial work, including company registration and dissolution, ongoing corporate governance requirements, business licensing, investment incentives and giving effect to changes to the corporate entity.
 
The firm provides advice on a broad range of commercial issues that is in accordance with prevailing law in Cambodia and strict international standards.
 
Taxation Practice Group
 
Sciaroni & Associates Taxation Practice Group has extensive experience in advising clients on the application of Cambodian tax law and on implementing a suitable tax strategy to reduce tax risk to an acceptable level. The firm assists clients in understanding the complex business conditions of Cambodia while efficiently solving problems following strict international ethical standards.

 
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Sciaroni & Associates is a leading professional and investment advisory firm doing business in Southeast Asia since 1993. Based in Cambodia with legal offices in Laos and Myanmar, we provide experienced advice and business insights to many of the world’s leading companies, governments, economic think tanks, global development funds, international NGOs and the Royal Government of Cambodia in accordance with strict international standards.
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Street Address: No. 24, Street 462, Sangkat Tonle BassacKhan Chamkarmon, Phnom Penh, Cambodia
Mailing Address: P.O. Box 1153 Phnom Penh Cambodia
Telephone: +855 23 210 225 Facsimilie: +855 23 213 089 Email: info@sa-asia.com