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Cambodia’s e-com sector wants clear and locally unified regulations

DFDL, Legal, Tax and Domestic Investment Companies.

The e-commerce and consumer protection law was promulgated in 2019, and subsequent legislation and sub-laws aim to define the classification of e-commerce as well as the registration and tax requirements of both domestic and foreign businesses. It is said that.

DFDL, Legal, Tax and Domestic Investment Companies.

However, many of the current regulations do not clearly show the difference between traditional and e-commerce businesses, said Christopher McCarthy, CEO of Mango Tango, a domestic marketing agency.

“This is a difficult position because the business community hates uncertainty. What makes the business community more comfortable is to understand the enforcement mechanism of the imposed regulatory violations,” McCarthy said in a Cambodian news portal. It is reported that he said it.

Nearirath Sreng, legal consultant and deputy head of DFDL Cambodia, said the regulations enforced by the Cambodian government are similar to previous laws in neighboring countries such as Indonesia and Singapore.

“The Cambodian government is currently on the right track with the Ministry of Posts and Communications preparing new laws, but it will take a long time for any law to be drafted and then enforced.-A changing industry.” She said.

McCarthy said Cambodian regulators should keep their regulations as regional as possible in order to take full advantage of the recently ratified free trade agreements and the entire e-commerce platform.

“Regarding the newly implemented requirements for foreign companies to register for VAT [value-added tax] In Cambodia, many large companies such as Google and Meta (Facebook) already have them, but SMEs are likely to lack the resources to do so. “

Nearirath Sreng adds that some of these new laws and requirements currently implemented are inconsistent with each other, and new e-commerce laws need to address this appropriately.

The main challenges in this sector still revolve around the shortage of information technology professionals, infrastructure, and a large population without bank accounts. COVID-19 catalyzes some e-commerce businesses such as food delivery, but also hinders the growth of other businesses such as ride hailing.

Fiber2Fashion News Desk (DS)

Cambodia’s e-com sector wants clear and locally unified regulations

Source link Cambodia’s e-com sector wants clear and locally unified regulations

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