The southeast Asia state of Laos is proposing increase its standard VAT rate from 7% to 10% in early 2024. This would reverse the cut of January 2022 (see below).
The Ministry of Finance believes that the 2022 cut has not achieved the predicted boost to the economy post-COVID pandemic. The country’s currency has been falling on concerns about the deficit, and so the Ministry is seeking to boost government revenues next year.
Source: vatcalc.com
