On 26th March 2021, LOLC Cambodia, the third-largest microfinance institution in Cambodia in terms of number of borrowers, loan outstanding and deposit balance, received a Letters of Appreciation from, Prime Minister of Cambodia, that praise LOLC Cambodia’s contribution to the development of the national economy for being the 29th largest taxpayer among 30th taxpayers in the country for 2020. LOLC Cambodia will continue to commit an obligation in good corporate tax payments. The appreciation letter stated. “I would like to thank your institution’s commitment and responsibility to pay taxes. Your crucial tax contribution is the driving force to develop our national economy. Last but not least, I wish your institution success in the year to come.
LOLC is under the
governance of Commercial Law on Taxation, so LOLC has obligation to pay taxes
according to the applicable laws and regulations. LOLC has obligation to pay
value added tax in accordance to real regime and large tax payer enterprise as
determined by the General Department of Taxation