The Two Draft Prakas on Taxation of Shipping Lines and Airlines: A Practical Analysis (Live Webinar)
Note: All activities, publications, and events mentioned in this post were conducted under the name VDB Loi prior to our transition to Andersen in Cambodia on 18 September 2024.
Introduction
Very recently, the General Department of Taxation released two important draft Prakas on the taxation of international transportation. The two Prakas, for the first time in Cambodia, detail how foreign airlines and shipping liners will be subject to Cambodian taxation. Andersen in Cambodia is in a unique position to share its analysis and insights, having produced the initial draft of this new regulation, which has undergone significant changes.
In this very practical webinar, we will look at the practical impact of the new rules, the planning and compliance option for liners and airlines and we will analyze the options for taxpayers with pending tax audits.
Highlights
- How will the new tax treatment work?
- What should you do if you have a pending audit? Settle now or wait for the Prakas?
- What about leasing of aircraft?
- VAT aspects?
- How to calculate tax for flights with connections?
- What is new for logistics companies?
- Transfer pricing aspects
- What changes based on Cambodia’s Double Taxation Agreements?
Speakers
Edwin Vanderbruggen
Edwin has over 30 years of experience as a legal and tax professional, academic, author, and government advisor. He has worked in Southeast Asia for nearly his entire career.
Edwin has built up vast experience advising sponsors, financial institutions, oil and gas supermajors, independent power producers, and other multinational enterprises on their projects in the region, including on multibillion dollar energy and infrastructure projects, mergers and acquisitions, and financing transactions.
He is renowned for his expertise in international taxation and investment, regional tax structuring, and tax planning.
He has assisted the governments of Cambodia (2006-2008 as a full-time adviser to the Minister of Finance), Thailand (2001-2005), Vietnam (2010), and Myanmar (2013-2020) on transactions or on issues such as legal reform, public finance, privatization, and taxation. He has also frequently consulted for IFC, ADB, the United Nations, and governmental agencies of Japan, Korea, and the Netherlands.
In his academic career, he has lectured at six prestigious universities in Europe and Asia, and written nine textbooks and over 40 scholarly articles, some of which have won scientific awards.
Laysym Sim
Laysym is an experienced tax professional with a degree in management. He has over 20 years of work experience, including with KPMG in Cambodia, where he was responsible for relations with the tax authorities. Laysym works with a wide variety of clients, both local and international, across a broad range of industry sectors, with a particular focus on the real estate and transportation industries. He has advised on tax planning for large property projects, employee benefits, and has conducted tax due diligence on several major acquisitions in Cambodia.
Laysym heads the firm’s tax compliance and tax disputes teams. He has a long and proven track record of successful defense of multinationals, banks, and property developers. He also leads our transfer pricing practice in Cambodia.
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