Laos Restores 10% VAT Rate

• Laos has restored the 10% value-added tax (VAT) rate starting May 1
• The rate was previously cut to 7% on January 1, 2022
• The restoration was recommended by many parties to improve budget collection ability
• The country’s central bank also adjusted the basic interest rate to align with economic conditions, increasing it from 7.5% to 8.5% per annum

Source: en.vietnamplus.vn

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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