Cambodia

Cambodia, a country located in Southeast Asia, is bordered by the Lao People's Democratic Republic to the northeast, Thailand to the northwest, Vietnam to the east, and the Gulf of Thailand to the southwest. Cambodia gained its independence in 1953 and is a member of the Association of South-East Asia Nations (ASEAN). Cambodia has a multiparty democracy under a constitutional monarchy, with Phnom Penh as the capital. Cambodia’s official language is Khmer, and the currency is the Riel (KHR).

Cambodia’s economy is recovering from the COVID-19 impact and the government predicts the GDP growth of approximately 6.6% in 2024. The continuing increase in economic growth is largely driven by recovery of the tourism sector; and broad-based development in the industrial and service sectors (i.e. hotel and restaurant, financial, transportation, and telecommunication services) and agriculture. It is optimistic that Cambodia will continue attracting more investors because of its low wages, plentiful labour, proximity to Asian raw materials, and favourable tax treatment.

PwC has continually expanded the scope of its services and currently employs more than 300 people. These professionals provide industry-focused assurance, tax, and advisory services. PwC Cambodia has a strong relationship with key ministries, financial institutions, and both commercial and aid-funded organisations. Its fully integrated tax practice brings together the right combination of compliance, planning, structuring, and industry experience. PwC Cambodia has developed relationships with the tax authorities at both the departmental and ministerial levels and with related government departments. Through this regular dialogue, PwC Cambodia is able to advise clients on the frequently changing Cambodian regulations.