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. So far, the system is operating in 10 major towns in seven provinces of Laos.
The finance ministry plans to expand the system to all provinces by 2020 as part of the government’s efforts to modernise the e-tax payment system and enhance transparency in the financial sector.