Source: Vientiane Times
All vehicle imports and exports will have to be recorded under the Lao National Single Window (LNSW) system at the Lao-Thai Friendship Bridge checkpoint starting on March 1.
The move follows the LNSW’s temporary closure to upgrade the system to link with electronic bank payments.
The upgraded system has been operational at the Vientiane Friendship Bridge since February 6, and it will be mandatory for all vehicle imports and exports to submit relevant documentation through the One-Stop Tax System from March 1 onwards.
Authorities say the new system will be transparent and speed up tax collection for the national treasury while linking with online payment systems.
Furthermore, the system will introduce uniform procedures and practices between customs officers and businesses shipping vehicles.
Authorities are urging traders to register before February 29 for the one-stop tax system to ensure prompt processing of vehicles from March 1.
The Customs Department, in partnership with the international certification agency Bureau Veritas, has been working on the Lao National Single Window scheme since 2013.
Implementation of the system is among the strategic plans to modernise the customs sector and implement Prime Minister’s Orders No. 2 and 12 to facilitate trade and investment.
The move will improve the management of goods, imports and exports and revenue collection as well as the management of fee collection through the banking system that links the single window system.
The LNSW will not only serve the customs sector but also allow other public sectors related to imports and exports to use the system.
The electronic platform facilitates information exchange through a single-window system that removes unnecessary processes, reduces paperwork, and also saves time and money.