Laos To Raise Value-Added Tax To Boost Revenue
The Lao Ministry of Finance has pointed to several factors in favor of raising the VAT rate.
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Value-Added-Tax(VAT) Laos
VAT Reduced To 7% Under Amendments To Lao Tax Laws
The applicable VAT rate on importing goods and supply of goods and general services will be reduced from 10% to 7% from January 1, 2022
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VAT To Be Levied At Border Crossings, Effective Immediately
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 ….