Laos to raise VAT rate to 10 per cent

VIENTIANE: Lao President Thongloun Sisoulith has issued a decree raising the value-added tax (VAT) rate from 7 to 10 per cent to support the country's budget revenue and contribute to its socio-economic development.

The presidential decree was issued on Tuesday (March 19), aiming to improve budget collection ability to help solve the economic and financial difficulties that Laos has faced in the last few years.