Nearly 100,000 Laos businesses now using TaxRIS system

An electronic system is used to collect tax at a border crossing. - VT

VIENTIANE (Vientiane Times/Asia News Network): Nearly 100,000 businesses in Laos are using the newly-introduced tax management system known as TaxRIS, which aims to reduce the loss of money owed to the government.

Minister of Finance Bounchom Ubonpaseuth said there are 131,688 businesses in Laos in total, of which 99,419 units are using the TaxRIS system, while 24,659 other businesses are keeping accounts.