laos - Tax & Revenue

Automated Payment of Land Tax to start Next Year

Finance authorities expect to begin collecting land tax through banks from next year in a bid to modernise tax payment through the use of an electronic system.
Date: 28 August 2018; Type: Industry Updates; Source: Vientiane Times

New Decree offers Tax Breaks for Investors in Lao SEZs

Domestic and foreign investors will be granted a number of tax breaks under a new amended decree related to specific and special economic zones (SEZs) issued recently by the government.
Date: 16 July 2018; Type: Legal News; Source: Vientiane Times

Illegal Vehicle import Crackdown ordered as Tax Avoidance raises Ire

The Ministry of Finance has warned that it will impose stronger legal actions against any owners of imported vehicles evading taxes and tariff payments to the government.
Date: 05 July 2018; Type: Industry Updates; Source: Vientiane Times

Amended Law offers No Exception to VAT Charge

All enterprises that have been registered and have obtained a tax ID will have to comply with the Value Added Tax Law. Deputy Prime Minister and Minister of Finance, Mr Somdy Duangdy, yesterday presented a draft of the amended Law on Value Added Tax to the National Assembly to consider and approve.
Date: 20 June 2018; Type: Legal News; Source: Vientiane Times

Pay Taxes or face Closure, Thousands of Businesses warned

Vientiane authorities have warned 3,039 enterprises to pay taxes and declare their business plans, with the threat of closure hanging over them if they fail to comply.
Date: 27 February 2018; Type: Tax News; Source: Vientiane Times

Issue of Illegally Imported Cars remains unresolved

The illegal import of cars continues to be a problem in Laos despite orders issued by the government last year to crack down on the issue.
Date: 21 February 2018; Type: Legal News; Source: Vientiane Times

Revised Laws the Key to boosting Revenue Collection

Eleven laws will be enacted by 2020 to facilitate revenue collection while also plugging loopholes that could lead to fiscal leaks.
Date: 08 November 2017; Type: Tax News; Source: Vientiane Times

Vehicle Owners Face Doubling of Road Tax

Motorists in Laos will need to pay more than double the usual road tax this year depending on the size of their engine and vehicle type.
Date: 26 September 2017; Type: Tax News; Source: Vientiane Times

Governmentt orders Cut in Lotteries

The government has called for a cut in several types of lotteries issued by the Lao Development Lottery State Enterprise, including the football lottery, following public complaints about the country having too many lotteries.
Date: 19 August 2017; Type: Tax News; Source: Vientiane Times

Value-added Tax to replace Guesswork in raising Revenue from SMEs

The Ministry of Finance is in the process to introduce a value-added tax (VAT) on Small and Medium sized Enterprises (SMEs) after the scheme was implemented successfully elsewhere over the past seven to eight years.
Date: 14 August 2017; Type: Tax News; Source: Vientiane Times

Vehicle Owners to pay higher Road Tax in August

The Ministry of Finance will start to issue 2017 road tax stickers in August, but vehicle owners will be paying more this year.
Date: 16 May 2017; Type: Legal News; Source: Vientiane Times

New Law offers Incentives to attract Investment

A newly-amended Investment Promotion Law has recently been promulgated, offering a variety of incentives to attract investment in both promoted sectors and hardship areas. Businesses investing and operating in hardship communities (known as Area I), where infrastructure has not yet been developed, will enjoy favourable profit tax exemptions ov ...
Date: 10 April 2017; Type: Legal News; Source: Vientiane Times

Finance Ministry to probe Sources of Revenue

The Ministry of Finance is re-inspecting and clearly defining sources of national revenue to enable the country to accomplish its 2017 target for revenue collection.
Date: 15 January 2017; Type: Tax News; Source: Vientiane Times

INDUSTRY UPDATES

Duterte will ‘definitely’ Order Oil Excise Tax Suspension

MANILA, Oct 15 (PNA) - Malacañang on Monday confirmed that President Rodrigo R. Duterte will soon order the temporary suspension of the second tranche of excise tax on fuel, but has yet to decide whether it will heed a senator's suggestion to suspend it "now or sooner."

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Indonesia's proposal on Tuna Labeling approved by Asean Ministers

Jakarta, Oct 15 (ANTARA News) - Indonesia`s proposal on the ASEAN Tuna Eco-Labeling (ATEL) policy has been approved and endorsed at the ASEAN Ministers of Agriculture and Forestry (AMAF) meeting in Hanoi, Vietnam.

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INDUSTRY UPDATES

IMF-WB - Indonesia to use OECD Recommendations to set up Policies

Nusa Dua, Bali, Oct 14 (ANTARA News) - Indonesia will use a recommendation on tourism development from the OECD (Organization for Economic Cooperation Development) as one of the references in setting up policies.

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INDUSTRY UPDATES

Deterrent Punishment must be imposed if Death Sentence to be abolished - AADK

BANGI, Oct 15 (Bernama) - The National Anti-Drug Agency (AADK) urged the government to decide on appropriate punishment for drug offences, if the mandatory death sentence to be abolished, says its director-general Datuk Seri Zulkifli Abdullah.

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Parliament building declared Smoke-Free Zone

PUTRAJAYA Oct 15 - Smoking-designated corners inside the Parliament building have been declared as smoke-free zones, effective today, said Health Minister Datuk Seri Dr Dzulkefly Ahmad.

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INDUSTRY UPDATES

Launch of Professional Mobility Framework, Social and Sustainability Bond Standards

The ASEAN Capital Markets Forum (ACMF) met in Singapore and launched two key initiatives to drive a more connected and sustainable ASEAN capital market. These initiatives complement the measures introduced by the ACMF on collective investment schemes, corporate governance, disclosure standards and capacity building.

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INDUSTRY UPDATES

IPOS Assistant Chief Executive speaks at INTA Asia-Pacific Conference

Assistant Chief Executive Mr Ng Kok Wan spoke at the International Trademark Association (INTA) Asia-Pacific Conference 2018, which took place on 11 Oct in Sydney, Australia.

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INDUSTRY UPDATES

Total Abolition of the Death Penalty - The Right Time to Do the Right Thing, says Bar

The Malaysian Bar has wholeheartedly welcomed the decision of the Malaysian Cabinet to totally abolish the death penalty in Malaysia. "We commend the Minister in the Prime Minister’s Department (Law), Datuk Liew Vui Keong, for making the announcement on 10 October 2018, which coincided with the 16th World Day Against the Death Penalty. We look forward to seeing the legislation being tabled and passed by both houses of Parliament in the Parliamentary session that begins on 15 October", said the President of the Malaysian Bar, Mr. George Varughese.

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Singapore and Indonesia sign Bilateral Investment Treaty to promote Stronger Economic Ties

Singapore and Indonesia signed an Agreement on the Promotion and Protection of Investments, also known as the Bilateral Investment Treaty (BIT), at the Singapore-Indonesia Leaders’ Retreat in Bali, Indonesia, today. Minister for Trade and Industry Chan Chun Sing, who is attending the Leaders’ Retreat as part of the Singapore delegation, signed the agreement with Indonesian Minister for Foreign Affairs Retno Marsudi. The signing was witnessed by Prime Minister Lee Hsien Loong and Indonesian President Joko Widodo.

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INDUSTRY UPDATES

New EODB Law to impact 2020 doing Business Survey

Department of Trade and Industry (DTI) Undersecretary Rowel S. Barba said on 10 October that the new Ease of Doing Business (EODB) Act can significantly affect the country’s rankings in the upcoming 2020 Doing Business (DB) Survey if government agencies strictly implement the law.

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INDUSTRY UPDATES

SC advocates Sustainable Investing at InvestSmart Fest 2018

InvestSmart® Fest 2018, an investor education initiative by the Securities Commission Malaysia (SC), was officiated by Yang Berhormat Syed Saddiq Syed Abdul Rahman, Minister of Youth and Sports Malaysia at the Kuala Lumpur Convention Centre today.

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INDUSTRY UPDATES

Singapore needs to regain Edge in Legal Tech, says Chief Justice

Chief Justice Sundaresh Menon has urged the Singapore Academy of Law to strive to get the legal profession to step up in the area of legal technology, and help the country regain its status as the world leader.

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INDUSTRY UPDATES

EC clarifies New Election Law to Press Members

BANGKOK, Oct 12 (NNT) - The Election Commission (EC) has clarified the new election law to press members.

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INDUSTRY UPDATES

NLA approves Committee to vet Election Commission Candidates

BANGKOK, Oct 12 (NNT) - The National Legislative Assembly (NLA) has approved the establishment of a committee to vet the two Election Commission candidates.

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INDUSTRY UPDATES

369,148 Ordinance Violators apprehended in Metro Manila: NCRPO

MANILA, Oct 12 (PNA) - Close to 370,000 persons in Metro Manila were apprehended for violation of local ordinances since June this year.

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INDUSTRY UPDATES

Indonesia, Japan sign MoC on Law and Human Right

Jakarta, Oct 14 (ANTARA News) - The governments of Indonesia and Japan have signed a Memorandum of Cooperation in Law and Human Right, the Indonesian embassy in Tokyo said in a statement received here on Saturday.

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INDUSTRY UPDATES

Indonesia, Thailand Ombudsmen sign Memorandum of Understanding

Jakarta, Oct 13 (ANTARA News) - The Chairman of Ombudsman Commission of the Republic of Indonesia, Prof. Amzulian Rifai, and the Chairman of the Royal Thai Ombudsman signed a Memorandum of Understanding (MoU) on cooperation between the Indonesian Ombudsman and the Royal Thai Ombudsman in Bangkok, Thailand, on Oct 10.

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INDUSTRY UPDATES

ASEAN Secretariat seeks to improve Engagement with Private Sector

Jakarta, Oct 12 (ANTARA News) - The ASEAN Secretariat held the First ASEAN Economic Community Dialogue recently to seek a more proactive two-way communication with the private sector on matters related to the ASEAN Economic Community.

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