- Laos has increased its value-added tax (VAT) rate from 7% to 10% starting from May 1, 2024
- The increase in VAT aims to support the country’s fiscal revenue and contribute to Laos’ socio-economic development
- Import goods, domestic goods and services subject to VAT, as well as activities related to electricity consumption, production, and supply, will now be taxed at 10%
- The adjustment in VAT rate was suggested by various parties to help address Laos’ economic and fiscal difficulties
- The National Bank of Laos has also increased the benchmark interest rate from 7.5% to 8.5% to adapt to the current economic and monetary situation
- The National Bank of Laos will implement monetary policy using the benchmark interest rate to adjust the final liquidity source for commercial banks to ensure the best results
Source: zh.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.
