- 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
- Aim is to increase revenue, reduce budget deficit, and stabilize domestic currency
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.
