Government

Taxation

Lao PDR: Economy Recovers then Falters Again under COVID-19

The Lao economy is on course for moderately improved growth in 2021, despite the second wave of COVID-19 denting the promising economic recovery made early in the year. The World Bank’s latest Economic Monitor for Lao PDR — A Path to Recovery —predicts that GDP ...

KPL

Laos Hopes to Pay Off USD 14 Billion Debt by 2025

Minister of Finance, Bounchom Ubonpaseuth spoke at the National Assembly’s ninth legislature recently, saying that the country plans to pay debts (foreign debt to the tune of USD 13 billion and domestic debt of USD 900 million) over the next five years, from 2021-2025, and ...

Latsamy Phonevilay

NA’s extraordinary session opens for national agenda debate

The first extraordinary session of the National Assembly (NA)’s ninth legislature kicked off on Thursday to debate measures to address financial and economic difficulties and suppress the use of narcotic drugs. The premier pledged that the government would be decisive, transparent and professional in implementing ...

Souksakhone Vaenkeo

New laws revealed to strengthen Lao tax collection

VIENTIANE (Vientiane Times/ANN) – The Tax Department of the Ministry of Finance in cooperation with the World Bank on Thursday revealed new laws on taxation which will take effect at the beginning of next year after they were approved by the National Assembly in June.Tax ...

News Desk

Paksan Customs Fails to Meet Revenue Target in First 8 Months

Paksan International Customs in Bolikhamxay Province has failed to meet its revenue target between January and August amid a drop in the volume of imports.The Paksan checkpoint, which connects Thailand, Vietnam and Laos by road, serves as an economic and services gateway, facilitating trade, investment ...

Latsamy Phonevilay
https://laotiantimes.com/2019/09/17/paksan-customs-fails-to-meet-revenue-target-in-first-8-months/

Electronic system helps Lao govt to boost revenue

Revenue earned from taxes increased by 20 percent in the first six months of this year compared to the same period last year, according to the Ministry of Finance.The increase followed the introduction of the new tax revenue management information system (TAXRIS) earlier this year. ...

Somsack Pongkhao

Laos urges taxpayers to limit cash payments

Taxpayers are being encouraged to pay their dues electronically via commercial banks as part of its efforts to plug financial loopholes, the Ministry of Finance has announced.Deputy Prime Minister and Minister of Finance, Somdy Duangdy, told Lao media recently that the government has introduced several ...

Somsack Pongkhao

Laos government proposes significant increase in casino taxes

A levy imposed on casinos and casino gaming would rise significantly under a new draft law being proposed by the Laos government.According to a report in the local Vientiane Times, the draft law, presented to the Lao National Assembly by Deputy Prime Minister and Minister of ...

Newsdesk
https://www.asgam.com/index.php/2019/06/26/laos-government-proposes-significant-increase-in-casino-taxes/

Laos NA approves increase in tax-free income threshold

VIENTIANE (Vientiane Times/ANN) – The National Assembly has approved a government proposal to adjust the level at which people’s income is subject to tax.About 82 percent of the assembly members present at the 7th session of the 8th Legislature of the National Assembly held at ...

Ekaphone Phouthonesy
http://annx.asianews.network/content/laos-na-approves-increase-tax-free-income-threshold-98794

Laos to levy higher excise tax on unnecessary products

Products or services the government doesn’t promote, including alcoholic beverages, will be subject to higher taxes if a new law on excise duties comes into force in January 2020. In contrast, lower levies will be imposed on items such as fuel and motorcycles that the government ...

Somsack Pongkhao

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