Importation Tax

Lao EconomyTaxUncategorized

Major Tax Revamp Trials Next Month

The government is planning to start using an electronic system for tax collection early next year with a test of the system on motor vehicles to begin next month.
Revenue collection has not reached the planned target because of various violations of the regulations and loopholes in procedures, which has resulted in a further deficit and hike of the government debt.
The new method of taxation will calculate tax based on a vehicle’s engine capacity (both the size and number of cylinders), its brand and model, but not its ……

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Fixed Import Tariffs To Continue Until 2013

The government will continue to set a fixed price as a reference for import tariffs on some commodities until 2013, despite calls from international companies to abolish the trade barriers, the Ministry of Finance announced.

The government will continue to use the fixed price system to levy duties on some imported goods for the remainder of this year and the next. Customs officials will begin to apply levies based on the actual price of most imported goods leading up to 2013, as this is one of the main requirements for Laos to become a member of World Trade Organisation

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