The Accounting and Auditing Regulator (ACAR) has announced a deadline of April 20, 2024 for all businesses to submit their annual financial statements for the 2023 financial year. This is a crucial reminder for all companies operating in Cambodia to ensure their filings are completed and submitted on time to avoid potential penalties.
Who needs to submit?
All businesses registered in Cambodia, except for small taxpayers, are required to submit their annual financial statements to ACAR. This includes both audited and unaudited statements, depending on the size and complexity of your business.
What are the deadlines?
April 20, 2024: Deadline for unaudited financial statements.
July 15, 2024: Deadline for audited financial statements.
ACAR Cambodia's e-filing system is a web-based platform that allows enterprises to submit their annual financial statements online. It was launched in 2018 as part of ACAR's efforts to modernize its filing process and improve transparency.
Benefits of using the e-filing system:
Convenience: The e-filing system is available 24/7, so businesses can submit financial statements at any time.
Accuracy: The system automatically checks for errors in the financial statements, which can help to prevent mistakes.
Security: The system is secure and uses encryption to protect the confidentiality of businesses' financial information.
Efficiency: The e-filing system is faster and more efficient than the traditional paper-based filing system.
Transparency: The e-filing system makes it easier for ACAR to track and monitor businesses' financial activities.
How to use the e-filing system:
To use the e-filing system, businesses must first register for an account. Once you have registered, you can upload their financial statements and supporting documents. The system will then automatically check for errors and provide feedback to the business. If there are no errors, the business can submit its financial statements electronically.
Requirements for using the e-filing system:
Businesses must be registered with ACAR.
Businesses must have a computer with an internet connection.
Businesses must have a valid ACAR taxpayer identification number.
Overall, the e-filing system is a valuable tool for businesses in Cambodia. It is convenient, accurate, secure, efficient, and transparent. Businesses that are required to file their annual financial statements with ACAR are encouraged to use the e-filing system.