VDB LoiUpdates & Analysis


Laos
25
May
2017
VDB Loi Laos’ Alert – New VAT Instructions: Financial sector updates
On 11 January 2017, the Ministry of Finance released Instruction No. 0077/MOF on the Implementation of the Law on Value Added Tax (“the Instruction”) to clarify the rules on value added tax (“VAT”). The Instruction heralded in quite a few changes for the financial sector. Now, with four months of experience seeing it put into […]
1
Feb
2017
Instruction Implementing VAT LAW
On 11 January 2017, the Ministry of Finance issued Instruction No. 0077/MOF (“the Instruction”) to implement and further clarify the provisions under the Amended VAT Law No. 52/NA dated 23 July 2014. Below are the main points covered in the Instruction: VAT registration requirements for foreign contractors in Laos for 90 days and more The […]
9
Jan
2017
VDB Loi Laos Alert – Your 2016 Annual Profit Tax return: Are you ready?
Profit tax policy has changed in 2016 for many reasons, one of the main factors contributing to the change in orientation being the lack of tax resources. Thus, with the 2016 profit tax return filing deadline looming, it’s a good time for Lao companies to thoroughly review their tax risk areas and the effects of […]
25
Aug
2016
VDB Loi Laos Alert – Watch out for VAT applicability on banking activities
  The applicability of value added tax (“VAT”) on banking activities has shifted from a broad exemption regime under VAT Law No. 04/NA dated 26 December 2006 – “operations relating to banking services, financial institutions” – to a limited exemption scope under VAT Law No. 52/NA dated 23 July 2014 – “deposit interest, loan interest […]
29
Jun
2016
VDB Loi Laos Alert: Determination of minimum and increase in secured salary for social security purpose
Recently, the Minister of Labor and Social Welfare issued Decision No. 1740/LSW dated 25 April 2016 to determine a minimum and increase secured salary for social security purpose. The ceiling of or maximum secured salary for calculation of social security contribution will be increased up to LAK4.5 Million, which is five times of minimum wage […]
20
May
2016
VDB Loi Lao Tax Update: Flash news on Amended Tax Law
Amended Tax Law No. 70/NA adopted 15 December 2015 was published in the Lao Official Gazette of 9 May 2016 and will come into force on 24 May 2016. The new law was issued while Laos is facing a looming budgetary crisis. The new Government is trying to find ways to meet its financial priorities […]
11
Feb
2016
VDB Loi Laos Alert: Application for 2015 Tax Payment Certificate
The Vientiane Capital Tax Division issued Notice No. 0182/TD.VTE on 18 January 2016 regarding the 2015 tax payment certificate application. All domestic and foreign business units under the supervision of the Tax Division are required to submit two sets of documents: The first set of documents must be submitted not later than 1 March 2016: […]
15
Jan
2016
VDB Loi Laos Alert – Presidential Edict on royalty rate for natural resources
Recently, the President of the Lao PDR issued Presidential Edict No. 001/P dated 15 December 2015 (“the Edict”) regarding the royalty rate for natural resources. The Edict imposes royalty rates for natural resources as follows: For general mineral resources – from 2% to 10% of the sales value, depending on the type of mineral. For […]
2
Nov
2015
VDB Loi Laos Alert – Notification on the Inspection and Monitoring of the Existence of Enterprises after Incorporation
Recently, the Ministry of Industry and Commerce (MOIC) issued Notification No. 2121/IC.ERM dated 14 October 2015 (the Notification) regarding the inspection and monitoring of the existence of enterprises after incorporation. The Notification imposes a new reporting requirement on all enterprises. Enterprises are now obliged to submit an annual report to the enterprise registry officials within […]
18
May
2015
CLMV Power Update
Welcome to VDB Loi’s CLMV Power Update!
Website Security Test