March 16, 2026 – South Korea’s National Tax Service and Cambodia’s General Department of Taxation signed an information-exchange agreement in Phnom Penh on Thursday to expand cooperation on tax evasion and cross-border financial crime, South Korea’s tax agency said on Monday.
The memorandum of understanding covers the exchange of information for tax purposes, including financial asset data linked to tax evasion, according to the National Tax Service.
The agency said the agreement formalized an understanding reached in Seoul in January and is intended to help both sides share tax-related information more quickly and accurately.
The meeting marked the fifth commissioners’ talks between the two tax authorities. Discussions covered broader tax administration cooperation, including information-sharing, coordination on tax crime investigations and administrative support for South Korean companies operating in Cambodia, the agency said.
The National Tax Service said closer coordination had become more important as offshore tax evasion methods grew more complex, including efforts to hide criminal proceeds abroad and launder funds through virtual assets.
During the talks, NTS Commissioner Lim Kwang-hyun and Cambodian tax chief Kong Vibol also exchanged recent investigation practices. Lim presented cases involving destroyed accounting records and income shifting through overseas shell companies, while Cambodian officials showed interest in follow-up procedures including criminal complaints, according to the agency.
Lim also met representatives of the Korean Chamber of Commerce and major South Korean companies in Cambodia. He raised their concerns with Cambodian authorities, including delays in value-added tax refunds, and Kong pledged cooperation on administrative support, the National Tax Service said.
The agreement adds to bilateral tax cooperation as both authorities step up information-sharing and enforcement coordination on cross-border tax crime, according to the agency
