Cambodia: Notification letter on use of English language in accounting software, update

Use of language and currency in accounting records and financial statements

Use of language and currency in accounting records and financial statements

The Accounting and Auditing Regulator (ACAR) released Guideline No. 1 on 27 January 2022 as guidance concerning a notification letter on the use of the English language in accounting software.

The guideline clarifies the scope of Circular MEF 009 issued in September 2021 addressing the use of language and currency in accounting records and financial statements. Read TaxNewsFlash

The guideline confirms that only enterprises that are using English in their accounting systems are required to submit a notification letter to ACAR. The guideline also clarifies that all enterprises that are required to submit a notification letter must do so via the ACAR e-filing system before 31 March 2022 (or for newly incorporated enterprises, within 60 days of their registration with the General Department of Taxation).

Penalties will apply for enterprises that fail to submit a notification letter to ACAR by the deadline.

Read a February 2022 report [PDF 163 KB] prepared by the KPMG member firm in Cambodia

 

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