BNO has brought the attention to up todate to kept our clients and the public informed ofs the new laws, sub-decrees, proclamations and government orders in any circumstance that may affect their business plans and every day lives. Our legal staffs isare capable of searching and collecting new materialson of them andto passing on the informationrovide it in an effective manner. We have highlighted the importancet of and its effect to protecting our client's' interests and the public's awareness as a whole. The following laws are now enforced:

The Finance Act of 2010 introduced a new tax in Cambodia called the "Property Tax". It is a tax of 0.1% on all immovable property exceeding a certain value. On 31 October 2010, the General Department of Taxation finalized the valuations that are the basis for the tax calculation, opening the way for taxpayers to actually register and pay the taxes that are owned on the properties. Only immovable property is subject to the Property Tax. This means land as well as buildings and constructions on land. This includes "other constructions built on the land regardless of having or having no wall or roof, such as hotels, apartments, condominiums, offices, factories, warehouses, supermarkets, construction of industrial buildings, roads, bridges, systems for producing clean water or producing electricity, airports, ports and parking lots". Plots of land with infrastructure and installations thus also qualify for the Property Tax. "Agricultural Land" is exempt from the Property Tax. This refers to land which is used for agricultural cultivation such as rice fields, farms, agro-industrial crop lands, livestock farms, aquaculture farms and salt marshes. There is no indication as to which scale or size of cultivation is required to earn the exemption. The taxpayer must register their property with the appropriate authorities, and is issued a Taxpayer Identification Number for the property in question. Each year, before 30 September, the taxpayer must file a tax return and pay the Property Tax. In case of a transfer, the taxpayer must declare the transfer. The new owner can be held liable to pay the Property Tax of the former owner: "Any real estate which has been sold, transferred, or given as donation by the original owner or occupant without paying property tax, the tax debt and tax obligations toward the real estate shall be borne by the final owner or final possessor or final beneficiary".

On 1 August 2011, the King promulgated an amendment to the law on Anti-Corruption dated 17 April 2010. Pursuant to this amendment, all corruption offenses as defined in the Law on Anti-Corruption and the New Criminal Code dated 30 November 2009 which were slated to come into force only in November 2011 have now instead come into force on 1 August 2011. Among the offenses reflected in these statutes, we draw your particular attention to Article 605 of the New Criminal Code which states that (direct unofficial translation from Khmer) "shall be penalized from 5 to 10-year imprisonment, any person who, without being entitled to, directly or indirectly provides a donation or gift, makes a promise or provides any benefit to a public official or a citizen entrusted with a public mandate through election in order that such public official or elected public official: (i) Performs any acts of his/her functions or facilitate any acts by using his/her functions; or (ii) refrain from performing his/her duties or facilitating any acts by using his/her function".

On 31 May 2011, the Law on the Implementation of the New Civil Code (the "Implementation Law") was promulgated by the King. Adopted by Royal Kram № NS/RKM/1207/030 dated 8 December 2007, the Civil Code could not take effect until the law on its implementation had also been promulgated. The purpose of this Law is to ensure the continuity in the legislation governing civil matters, to guarantee the proper enforcement of the provisions of the Civil Code and of any matter related to the implementation of the Civil Code. As a result, a number of provisions in the existing Cambodian laws will be abrogated or amended. The Implementation Law establishes three major principles for the enforcement of the Civil Code: the principle of non-retroactivity, the continuity of the rule of law and the legal consistency. According to those principles, the Civil Code shall not be applicable to any issue that occurred before the date of enforcement – except otherwise provided in other provisions. In accordance with the Implementation Law, the Civil Code will come into effect throughout the country six months from the date of promulgation of the Implementation Law.