Podcast
Questions and Answers
What is the tax rate on unused land?
What is the tax rate on unused land?
Which of the following types of land is NOT taxable for unused land?
Which of the following types of land is NOT taxable for unused land?
What is the penalty for late payment of the tax on unused land?
What is the penalty for late payment of the tax on unused land?
When is the deadline to pay tax on unused land?
When is the deadline to pay tax on unused land?
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Which of the following scenarios would classify land as taxable under the law?
Which of the following scenarios would classify land as taxable under the law?
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Which type of land is exempted from the tax on unused land if it is also subjected to tax on immovable property?
Which type of land is exempted from the tax on unused land if it is also subjected to tax on immovable property?
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Which of the following conditions does NOT apply to land that is leased and considered taxable for unused land?
Which of the following conditions does NOT apply to land that is leased and considered taxable for unused land?
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Which of the following conditions allows land under investment contracts to be considered taxable for unused land?
Which of the following conditions allows land under investment contracts to be considered taxable for unused land?
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What is the timeframe for a taxpayer to file and pay the stamp duty for registered immovable property?
What is the timeframe for a taxpayer to file and pay the stamp duty for registered immovable property?
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Which document is NOT required for paying registration tax on the transfer of shares?
Which document is NOT required for paying registration tax on the transfer of shares?
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How is the registration tax base for immovable property determined?
How is the registration tax base for immovable property determined?
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Is the transfer of ownership of immovable property between spouses or children under a divorce decision subject to stamp duty?
Is the transfer of ownership of immovable property between spouses or children under a divorce decision subject to stamp duty?
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Which document is required for the payment of registration tax on the establishment of a company?
Which document is required for the payment of registration tax on the establishment of a company?
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What must accompany the transfer file of immovable property for the unregistered property to pay stamp duty?
What must accompany the transfer file of immovable property for the unregistered property to pay stamp duty?
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Which regulation outlines the procedures for stamp duty collection?
Which regulation outlines the procedures for stamp duty collection?
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What is NOT an attachment required for the payment of stamp duty on the legal letter for establishing a company?
What is NOT an attachment required for the payment of stamp duty on the legal letter for establishing a company?
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What is the tax rate on buildings and land rental?
What is the tax rate on buildings and land rental?
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Which of the following is exempt from tax on buildings and land rental?
Which of the following is exempt from tax on buildings and land rental?
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How many working days can the registration tax process take?
How many working days can the registration tax process take?
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What is the registration tax rate for the transfer of ownership of properties?
What is the registration tax rate for the transfer of ownership of properties?
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Which document is NOT required for the transfer of unregistered immovable property?
Which document is NOT required for the transfer of unregistered immovable property?
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What is the registration tax exemption threshold for siblings when transferring property?
What is the registration tax exemption threshold for siblings when transferring property?
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What is the stamp duty rate for the transfer of company shares?
What is the stamp duty rate for the transfer of company shares?
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Which of these benefits from a registration tax exemption?
Which of these benefits from a registration tax exemption?
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How is the gross income for tax on buildings and land rental determined?
How is the gross income for tax on buildings and land rental determined?
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What happens to the registration tax if the transfer is made between grandparents and grandchildren?
What happens to the registration tax if the transfer is made between grandparents and grandchildren?
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What is required for the transfer of ownership of registered property?
What is required for the transfer of ownership of registered property?
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Which of the following best describes the duration of the registration tax process?
Which of the following best describes the duration of the registration tax process?
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For what purpose is the Family book required in the registration tax process?
For what purpose is the Family book required in the registration tax process?
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Study Notes
Taxable Unused Land
- Residential Land: Land with construction used as a residence for over 183 days in a tax year.
- Rented Land with Construction: Land with construction generating monthly rent exceeding 80% of the land value's one-twelfth multiplied by a Ministry of Economy and Finance coefficient.
- Legitimate Economic Activity Land: Land used for state-approved economic activities (farming, industry, commerce, tourism etc.) with monthly revenue surpassing 80% of land value's one-twelfth multiplied by a Ministry of Economy and Finance coefficient.
- State-Owned Leased Land: State-owned land leased to entities or individuals satisfying any of the above three conditions.
- Investment Contract and Concession Land: Land under approved CDC contracts/concessions, but not in operation due to uncontrollable events (floods, insecurity) recognized by legitimate institutions.
Unused Land Tax Rate
- The tax rate for unused land is 2%.
Unused Land Late Payment Penalties
- Late payment penalties are imposed as 10%, 25%, or 40% of the tax arrears, plus a 1.5% monthly interest for unpaid amounts.
Unused Land Tax Deadline
- The deadline for paying unused land tax is September 30th each tax year.
Immovable Property Tax and Unused Land Tax
- Land and buildings subject to immovable property tax are not subject to unused land tax in the same tax year.
Building and Land Rental Tax
- Taxable Activities: Income from renting buildings (houses, factories, offices etc.), industrial machinery, industrial/commercial facilities, floating/commercial ships, and land without construction (quarries, mines, lakes, salt fields).
- Tax Rate: 10% of gross rental income (based on lease agreement).
- Exemption: Rent less than 500,000 Riels is exempt.
Registration Tax (Stamp Duty) on Immovable Property Transfer
- Required Documents (Registered Property): Application (PT 02), Property Title, Letter of Sale, Buyer/Seller IDs, Family/Residence books, Plot information, Cadastral, Plot data form, Sale Agreement/ Court Decision.
- Required Documents (Unregistered Property): Application, Survey notification, Inspection records, Transfer Letter, Buyer/Seller IDs, Family/Residence books, Sale Agreement/ Court Decision.
- Property Transfer Time: 4-8 working days after submitting sufficient documents.
- Rates: 4% on property transfer, 0.1% of share price on share transfer.
- Sibling Transfer Deduction: 200,000,000 Riel (succession) or 100,000,000 Riel (donation) from tax base.
- Exemptions (Donations): First-time donations between parents/children, spouses, grandparents/grandchildren, parents/children & spouse, grandparents/grandchildren & spouse are exempt. Sibling transfer and parents-in-law/children-in-law transfer have a 100,000,000 Riel deduction.
- Payment Timeframe: Within 3 months of property transfer date (registered or unregistered).
- Share Transfer Documents: Share transfer permit from Ministry of Commerce, old/new company documents, new shareholder IDs.
- Tax Base Determination: Property value based on a Ministry of Economy and Finance Prakas (Prakas No. 343) or deed/legal documents with value exceeding the Prakas value.
- Company Establishment Documents for Stamp Duty: Application for stamp duty, Ministry of Commerce letter, company Articles of Association, shareholder IDs.
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Description
This quiz explores the various categories of taxable unused land, including residential, rented, and land used for legitimate economic activities. It also covers tax rates and conditions for state-owned leased land and investment contracts. Test your knowledge on these important regulations.
