On September 17, 2024, the General Department of Taxation released a significant Instruction detailing the steps and responsibilities for taxpayers who wish to apply for the permanent closure of a business, in compliance with Article 203 of the Taxation Law.

1. Notification Obligation

Taxpayers are required to inform the tax authority within 15 days of the business's permanent closure, as per the guidelines specified in Article 203 of the Taxation Law.

2. Application Procedure

Taxpayers have the option to submit their dissolution application via an online platform, the GDT e-Administration application, or by personally delivering Form 103 at the tax office. The application should be accompanied by necessary documents, including a dissolution notification letter and evidence of stamp duty payment (1,000,000 riels).

3. Final Tax Filing

Prior to applying, the taxpayer is required to finalize their financial records and file all monthly and annual tax returns up until the dissolution date. Once the application has been approved, taxpayers will no longer need to file monthly or annual returns. All tax-related services, including invoicing, tax certificates, and tax incentives, will be halted, with the exception of addressing any outstanding tax obligations.

4. Tax Audit and Inspection

The tax authority may perform a tax audit as part of the dissolution procedure. Taxpayers should prepare the necessary documentation and fully cooperate with the audit process to facilitate the dissolution.