Cambodia suspends advance IT till 2025 end for eligible textile firms

The decision follows a request by the Textile, Apparel, Footwear and Travel Goods Association in Cambodia (TAFTAC) last October to the ministry of economy and finance to extend the suspension of advance income tax of enterprises in the textile and garment industry, according to Cambodian media reports.

At least some of the eligibility criteria are based on scale and scope of operations, sustainability and worker support, the ministry noted. It listed textiles, garments, bags, footwear and hats as possible items that can be produced by entities entitled to the tax break.

Fibre2Fashion News Desk (DS)