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Category Archives: Tax
The government is set to raise the issue of Laos’s value-added tax (VAT) in a joint discussion with Lao counterparts, fearing the new tax measure may cripple growing border trade.
Thailand will ask for leniency and a spending ceiling from Laos during the meeting, which is expected to be held soon.
Laos has begun collecting VAT on products imported from abroad, starting at the ….. Continue reading
All people who enter Laos bringing with them goods items valued at over US$50 will have to pay 10 percent of the goods value to the government as Value-Added-Tax(VAT), with the decision already in force.
Through this decision, the minister has tasked the customs sector to implement the levy on all Lao and foreign passengers entering the country via border crossing points and international airports, while all citizens are …. Continue reading
The Taxation Department of the Ministry of Finance is aiming to introduce new land and road tax rates to boost government revenue for next fiscal year.
According to the Taxation Department’s report for the first seven months of the 2015-2016 fiscal year they were yet to determine what the percentage increase would be for the numerous categories of land and road tax.
At present tax is collected for land and vehicles at many different rates depending ….. Continue reading
The prices of vehicles in Laos remain high even though import tariffs on many products including vehicles have been reduced to five percent, much to the disappointment of recent purchasers.
Deputy Director of the Foreign Trade Policy Department, Mr Saysana Sayakone told Vientiane Times recently that the prices of vehicles will remain rather high as buyers still have to pay consumer tax.
He explained that the Lao PDR had begun to reduce ….. Continue reading
The Lao Government ‘slipped through’ a revised tax law recently (Amended Tax Law No. 70/NA, dated 15 December 2015), with the law set to take effect next week on 24 May 2016. But fear not: much of the revised law is similar to the law it replaces, the Tax Law (2011), with a few new inclusions, revisions and corrections.
That said, one glaring adjustment is the insertion of a new article on profit tax withholding for foreign entities deriving income from …. Continue reading
The Taxation Department reported recently that tax payments across the country had decreased 5.1 percent during the first seven months of the 2015-16 fiscal year, in comparison to the previous year.
Tax collection in the first seven months of 2015-16 reached 4,678.67 billion kip or 46. 4 percent of the target.
Meanwhile at the provincial level, tax authorities were able to collect ….. Continue reading