NA members consider amendments to VAT

26/06/2024 15:44

Email Print 2086

ຂປລ (KPL) The National Assembly members yesterday brainstormed amendments to the Law on Value-added Tax (VAT) which were presented by the Ministry of Finance at the ongoing 7th Ordinary Session of the National Assembly.

Minister of Finance Santiphap Phomvihane

(KPL) The National Assembly members yesterday brainstormed amendments to the Law on Value-added Tax (VAT) which were presented by the Ministry of Finance at the ongoing 7th Ordinary Session of the National Assembly.
“It is necessary to amend this law as value-added tax is needed for the national socio-economic development,” said Minister of Finance Santiphap Phomvihane. “Over the past five years, the implementation of the law has proved that some of its articles fail to respond to the current requirements of the national socio-economic development.”
The minister claimed that the amendments will help increase revenue collection, limit revenue leaks, tighten foreign currency control, and meet more international standards.
Vice President of the National Assembly Sommad Pholsena stressed the need for lawmakers to ensure that the revised draft law is detailed and easy to understand for the multi-ethnic Lao people before it is adopted.

KPL

Politics
Prime Minister Meets Japanese Volunteers, Highlights 70 Years of Diplomatic Ties
10/17/2025 4:21:56 PM
Prime Minister Sonexay Siphandone received a delegation of Japanese Volunteers at the National Convention Centre, Vientiane today, led by Mr. Koizumi Tsutomu, Ambassador of Japan to Laos, and Dr. Tanaka Akihiko, President of the Japan International Cooperation Agency (JICA).
Politics
Foreign Minister to Visit Brunei
10/17/2025 9:40:34 AM
In a move to strengthen bilateral ties, Minister of Foreign Affairs of the Lao People’s Democratic Republic (Lao PDR), Mr. Thongsavanh Phomvihane, will undertake an official visit to Brunei Darussalam from October 19-22, 2025.
Politics
Laos and Thailand Continue to Strengthen and Expand Bilateral Cooperation
10/16/2025 6:38:57 PM
In response to an invitation from Prime Minister Sonexay Siphandone, Mr. Anutin Charnvirakul, Prime Minister of the Kingdom of Thailand, accompanied by his spouse and delegation, paid an official visit to the Lao People’s Democratic Republic on October 16, 2025.
Politics
President Receives Thai Prime Minister
10/16/2025 6:32:10 PM
On October 16, 2025, at the Presidential Palace, Mr. Thongloun Sisoulith, President of the Lao People’s Democratic Republic, received a courtesy call from Mr. Anutin Charnvirakul, Prime Minister of the Kingdom of Thailand, and his delegation on the occasion of their official visit to the Lao PDR.
Politics
Thai Prime Minister Anuthit Chanvirakul and Spouse Arrive in Vientiane Capital
10/16/2025 6:15:23 PM
On the morning of October 16, 2025, Mr. Anuthit Chanvirakul, Prime Minister of the Kingdom of Thailand, accompanied by his spouse and a high-level delegation, arrived at Wattay International Airport, Vientiane Capital, for an official visit to the Lao People’s Democratic Republic (Lao PDR).