Cambodia Accounting Requirements 2026
Every company registered in Cambodia must maintain CIFRS-compliant accounts, file monthly GDT returns, and submit an annual return to the Ministry of Commerce. Companies above the revenue threshold must be audited. This guide covers every obligation, deadline, penalty, and practical tip for foreign-owned businesses.
Cambodia's Accounting Standards: CIFRS
Cambodia uses CIFRS (Cambodia International Financial Reporting Standards), which are closely adapted from the international IFRS framework issued by the IASB. CIFRS is mandatory for all registered companies in Cambodia, overseen by the National Accounting Council (NAC) under the Ministry of Economy and Finance.
Full CIFRS
Required for large companies, banks, insurance companies, listed CSX companies, and entities with public interest significance. Follows IFRS standards closely with minimal Cambodia-specific modifications.
CIFRS for SMEs
Simplified standards for small and medium enterprises. Allows certain simplifications in areas like financial instruments, leases, and deferred tax. Most foreign-owned SMEs use this standard.
Chart of Accounts
The NAC has issued a standard chart of accounts that Cambodia companies are expected to align with. Your accountant will set this up — it establishes consistent account coding for GDT reporting.
Fiscal Year
Cambodia's standard fiscal year is January 1 – December 31. Most companies follow this calendar year. Requesting a different fiscal year is possible but adds compliance complexity.
Bookkeeping Requirements for All Companies
These requirements apply to every registered company in Cambodia regardless of size, revenue, or number of employees:
Annual Audit Requirements
A statutory audit by a licensed Cambodian Certified Public Accountant (CPA) is required for:
- • Annual revenue exceeding USD 75,000 (verify current threshold — GDT may update periodically)
- • Companies listed on the Cambodia Securities Exchange (CSX) — automatic requirement
- • Banks, microfinance institutions, and licensed financial institutions — always required regardless of size
- • Insurance companies — always required
- • NGOs and charities with significant donor funding — required by donors and MoC
- • Companies receiving significant foreign investment or with foreign shareholders requiring audit for home-country reporting
Audited financial statements must be submitted to the GDT as part of the annual Corporate Income Tax (CIT) return, and to the Ministry of Commerce as part of the annual company return. The audited accounts form the basis of your CIT assessment.
Licensed Audit Firms in Cambodia
| Firm | Type | Suitable For |
|---|---|---|
| KPMG Cambodia | Big 4 | Large companies, banks, listed entities, multinationals |
| Deloitte Cambodia | Big 4 | Large companies, regulated industries, MNC subsidiaries |
| PwC Cambodia | Big 4 | Large companies, financial services, public interest entities |
| EY Cambodia | Big 4 | Large companies, private equity-backed, cross-border structures |
| Baker Tilly Cambodia | Mid-tier | SMEs, foreign-owned companies, real estate, trading |
| Grant Thornton Cambodia | Mid-tier | SMEs, NGOs, development organizations |
| Local CPA Firms | Local | Small companies, basic statutory audit, cost-sensitive clients |
Annual Ministry of Commerce Filing
Every registered company must file an annual return with the Ministry of Commerce (MoC) within 3 months of the fiscal year end. For companies with a December 31 year end, the deadline is March 31.
Annual MoC Return must include:
- Updated shareholder register (names, nationalities, percentage holdings)
- Updated director/officer list with current passport copies
- Current registered company address
- Audited financial statements (if audit required)
- Statutory declaration by a director confirming accuracy
Strike-Off Risk: Companies that miss the annual MoC return for 2 consecutive years may be struck off the commercial register. A struck-off company cannot legally operate, enter contracts, or hold assets. Reinstatement requires a separate application process and additional fees.
GDT Monthly Tax Filings
All companies must file monthly tax returns with the General Department of Taxation (GDT) by the 20th of the following month. Late filing penalties apply immediately after the deadline.
| Tax Filing | Deadline | Applies To |
|---|---|---|
| VAT Return (Monthly) | 20th of following month | Companies registered for VAT (turnover >USD 125k/year or voluntary registration) |
| Prepayment of Income Tax | 20th of following month | All companies — 1% of monthly turnover regardless of profit/loss |
| Tax on Salary (ToS) | 20th of following month | All companies with employees — withhold from salary and remit to GDT |
| Specific Tax on Certain Merchandises & Services | 20th of following month | Companies in regulated sectors (alcohol, tobacco, telecom services) |
| Withholding Tax (WHT) | 20th of following month | Companies making payments to non-residents (rent, royalties, management fees, dividends) |
The Prepayment of Income Tax (1% of monthly turnover) is the most important monthly filing for most small companies. It is credited against your annual Corporate Income Tax liability. If your annual CIT calculation results in less tax than you have pre-paid, you receive a credit (not typically a refund). For more on tax rates and annual CIT, see our Corporate Banking & Tax Setup guide.
Accounting Software Used in Cambodia
QuickBooks Online
Most popular with expat business owners. Strong multi-currency support. Easy to share with your accountant. Good invoicing.
Xero
Popular with Australian and UK expat owners and accounting firms. Excellent bank reconciliation, payroll add-ons available.
Wave
Suitable for very small companies with simple transactions. Limited multi-currency support. Good for solo consultants.
Odoo
Open source ERP. Popular with larger SMEs needing inventory, CRM, and accounting integration.
EasyAcc (local)
Local Cambodian accounting software. Designed for GDT format exports. Popular with local accounting firms.
Excel / Google Sheets
Acceptable for micro-businesses with very few transactions but not recommended once you have employees or VAT registration.
Penalties for Non-Compliance
The GDT has significantly increased enforcement since 2020, including cross-referencing bank deposits with declared revenue, industry margin benchmarking, and random audits. Cambodia GDT audits can cover up to 10 years of records.
| Non-Compliance | Penalty | Risk Level |
|---|---|---|
| Late Monthly Tax Filing | 25% of tax due + 2% per month interest | Medium |
| Missing Annual Tax Return | USD 500–2,000 fine + 25% underpayment penalty | High |
| Missing Annual MoC Return | Company may be struck off the register, directors fined | High |
| Failure to Audit (when required) | GDT assessment of estimated tax + penalties | High |
| Incomplete Records During GDT Audit | GDT uses industry benchmarks to estimate income — often results in higher assessed tax than actual | Very High |
| Undeclared Revenue | 25% additional tax + criminal referral for serious cases | Critical |
When to Hire an Accountant vs When to DIY
- • Solo consultant, 1–5 invoices per month
- • No employees
- • Not VAT registered
- • Revenue well below USD 75,000 (no audit required)
- • Simple cash-basis accounting
Even DIY: use a local accountant for annual filings
- • Any employees (Tax on Salary monthly)
- • VAT registered
- • Revenue above USD 75,000
- • Multiple shareholders / foreign parent
- • Import/export transactions
- • Loan or overdraft facilities
Cost benchmark: A good Phnom Penh accountant for a typical SME: USD 200–400/month. Annual audit for a small company: USD 1,500–4,000. These costs are modest compared to potential GDT penalties.
Frequently Asked Questions
Do I need to hire an accountant in Cambodia?
For most foreign-owned businesses, yes — especially if you have employees, are VAT-registered, or have more than a handful of transactions per month. A local Cambodian accountant familiar with GDT requirements is essential for accurate monthly filings. The GDT filing system has specific formatting requirements and is in Khmer; errors in monthly filings accumulate into significant penalties. Solo consultants with very simple invoicing (one client, no employees, no VAT) can sometimes manage basic bookkeeping themselves, but even then, working with an accountant for annual filings is strongly recommended. Monthly accounting fees in Phnom Penh range from USD 150–500 depending on transaction volume, which is minimal compared to penalty risk.
What happens if I miss the audit deadline?
The annual audit deadline for companies required to audit is tied to the annual tax return deadline — typically March 31 for companies with a December 31 fiscal year end. Missing this deadline exposes you to GDT late-filing penalties (25% of assessed tax + 2% monthly interest). If your company is required to audit and submits unaudited financial statements, the GDT may reject the submission or conduct their own assessment, which is almost always unfavorable. Missing the Ministry of Commerce annual return (due March 31) can result in the company being struck off the register — at which point it cannot legally operate, and reinstatement requires additional applications and fees. Work with your accountant to set internal deadlines of January 31 to ensure all year-end work is complete before official deadlines.
Which accounting software works best in Cambodia?
The most commonly used accounting software among foreign-owned companies in Cambodia are: QuickBooks Online (popular with expats, good multi-currency support, integrates with many apps); Xero (popular with foreign companies and accountants from Australia/UK, excellent bank reconciliation features); Wave (free, suitable for very small companies with simple transactions). For larger businesses, ERP systems like Odoo or SAP are used. The key requirement is that your software must be able to export data in formats acceptable to your accountant for GDT submission. As of 2026, GDT has been piloting e-invoicing and electronic filing systems — your accountant will advise on current compatibility requirements.
How long must I keep accounting records in Cambodia?
A minimum of 10 years for all financial records, supporting documents, contracts, invoices, and receipts under Cambodian tax law. This applies from the date of the relevant transaction or the close of the relevant tax period, whichever is later. The GDT has a 10-year window for tax assessments — meaning they can audit a transaction from 10 years ago if they have reason to believe tax was underpaid. Records must be available in Cambodia — storing all records overseas without a local copy is a compliance risk during GDT inspections.
Can my home country accountant handle my Cambodia tax filings?
No. Cambodia GDT filings must be prepared and submitted in Khmer by accountants familiar with Cambodia's specific tax forms, rates, and electronic submission system. Your home country accountant can support your management accounts, group consolidation, and international reporting, but Cambodia-specific compliance (monthly GDT filings, annual tax return, annual MoC return) requires a local Cambodian accountant or accounting firm. Some foreign companies use Big 4 firms with Cambodia offices (KPMG, Deloitte) for a unified approach if their home country auditor has a corresponding office, but this is significantly more expensive than using a local firm for routine compliance.
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Legal Disclaimer: Accounting standards, audit thresholds, and tax filing requirements are set by the Royal Government of Cambodia and are subject to change. The USD 75,000 audit threshold should be verified against current GDT regulations. This guide is for general informational purposes only. Consult a licensed Cambodian accountant and tax advisor for advice specific to your business.
Our legal content is developed in partnership with licensed Cambodian attorneys and business consultants who specialise in foreign investment, immigration, and property law.
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