As we expected, Presidential Edict No. 003/P issued 19 March 2024 will reset the VAT rate of 7% that became effective less than two and a half years ago back to 10%. This change in rate will occur either late in the second quarter or early in third quarter of 2024, 15 working days after […]

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 […]

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 […]

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 […]

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 from […]