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Laos Raises VAT Rate to 10% to Boost Budget Revenue and Economic Development

  • President of Laos signed a decree restoring VAT rate to 10% to support budget revenue and socio-economic development
  • VAT rate was previously cut to 7% in response to COVID-19 pandemic
  • Restoration of VAT rate recommended by many parties to improve budget collection ability
  • Lao Ministry of Finance considering other measures to improve tax system, including construction of tax refund mechanism

Source: vir.com.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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