Cambodia: ACAR Filing Extended to 15 June 2023

DFDL Cambodia

17th May 2023

Notification 020/23 was issued by the Accounting and Auditing Regulator on the 12th of May 2023 concerning the Extension to Submit Annual Financial Statements for the 2022 financial year for Enterprises and Non-Profit Organizations that are not subject to independent financial audits.

Notification 020/23 was issued by the Accounting and Auditing Regulator (ACAR) on the 12th of May 2023 concerning the Extension to Submit Annual Financial Statements for the 2022 financial year for Enterprises and Non-Profit Organizations that are not subject to independent financial audits.

As its title suggests Notification 020/23 extends the filing date, via the ACAR e-filing system, for enterprises and non-profit organizations that are not subject to an independent financial audit, from the 16th of May 2023 to the 15th of June 2023.

The Instruction goes on to provide that failure to submit the 2022 annual financial statements by the new due date of the 15th of June 2023 will result in the imposition of penalties as per Sub-Decree 79 dated 1 June 2020 on the fines for violations of the Accounting and Audit Law.

For more information on the ACAR filing process, fees, penalties and background please refer to our earlier updates below:

https://www.dfdl.com/resources/legal-and-tax-updates/cambodia-tax-alert-acar-cracks-down-on-non-compliant-enterprises/

https://www.dfdl.com/resources/legal-and-tax-updates/cambodia-tax-alert-acar-deadline-for-submission-of-financial-statements/

https://www.dfdl.com/resources/legal-and-tax-updates/cambodia-submission-of-annual-financial-statements-and-use-of-english/

https://www.dfdl.com/resources/legal-and-tax-updates/cambodia-use-of-khmer-language-and-currency-in-financials-and-onsite-inspections/

https://www.dfdl.com/resources/legal-and-tax-updates/cambodia-requirement-to-submit-financial-reports-for-independent-audits/

Tax services required to be undertaken by a licensed tax agent in Cambodia are provided by Mekong Tax Services Co., Ltd, a member of DFDL and licensed as a Cambodian tax agent under license number – TA201701018.

Contact us

Clint O'Connell
Partner, Head of Cambodia Tax Practice Group
clint.oconnell@dfdl.com

Vattanakpagna Chhun
Senior Accounting Manager
vattanakpagna.chhun@dfdl.com

Please Login or Register for Free now to view all updates and articles

Login Sign Up

In addition to free-to-view updates and articles, you can also subscribe to the full Legal Centrix Vietnam Service including access to:

Overview notes on the law
Thousands of high quality translations of legislation covering all key business areas
Legal and tax updates
Articles on important legal and tax issues
Weekly email alerts
Sophisticated web platform and search

Legal Centrix is trusted by top law and accounting firms.

DFDL Cambodia

Cambodia
dfdl.com

DFDL established its headquarters in Cambodia in 1995. DFDL is licensed as an investment company by the Council for the Development of Cambodia and the Cambodian Investment Board. We are also registered as a private limited company with the Ministry of Commerce. Under these licenses and registrations, we are permitted to provide business consulting, tax and investment advisory service of an international nature.

On 1 March 2016, DFDL and Sarin & Associates joined forces and established a commercial association and cooperation in order to form a new business transactions platform to serve clients with interests in Cambodia and across the expanding ASEAN marketplace.

DFDL and Sarin & Associates have worked together for over 10 years in Cambodia. Sarin & Associates has long been recognized for providing advice to companies in Cambodia in several sectors, such as telecommunication, energy, retail, real estate, financial services, banking, etc.

Our clients are major international and Asian foreign investors in Cambodia, including large foreign and Asian financial institutions. We have been involved in major projects in Cambodia including electricity projects, aviation, telecommunications, infrastructure projects and large real estate projects.

Click here to view the author's profile