Source::Xinhua
After two years of chaos and decline of the tourism industry in the small Southeastern country, Cambodia's prospects of tourism in 2022 is finally looking optimistic with strong numbers seen in the past few months. Now to take advantage of the projected recovery, Cambodia has again extended the tax holiday for the first six months in 2022.
After the tax holiday was first extended in April 2021 after the outbreak of COVID-19 in Feb 2021, the country's tourism sector has been hit hard with 80 per cent consecutive falls in tourist numbers in the two years of pandemic Tourism has been one of its pillars in its economy which has been finally brought on track with the vaccination drive making quarantine-free travel for vaccinated people feasible in the country.
With an estimated half a million visitors in 2022, the Cambodian government has decided to extend tax holidays for tourism-related businesses to rejuvenate the tourism sector and mitigate the impact of COVID-19 in the sector in 2022. Now, there will be no annual fees charged for any license renewals or patents in tourist-related business for 2022.
In addition, monthly taxes for guesthouses, restaurants and tour companies are exempt for the first six months. The government hopes that with the burden of taxes on the industry being lifted, Cambodia will be able to make the country a 'key destination for vacations'.
