Laos to start collecting VAT at customs in November
The Customs Department under Laos' Ministry of Finance will begin collecting Valued Added Tax (VAT) payments in November.
The tax will be collected at the first Thai-Lao Friendship Bridge between Thailand's Nong Khai province and Laos' capital Vientiane followed by the other international border crossings， Bounpaseuth Sikounlabout， acting Director General of the Customs Department was quoted by local Vientiane Times on Sunday.
Earlier， the Ministry of Finance had issued a Provision on the Levy of 10 percent VAT of Passengers' Personal Effects， which stipulates that Lao citizens or expat passengers living in Laos upon entry through border checkpoints including international airports shall pay 10 percent value VAT on their (new or used) personal effects.
The levy of VAT is exempted for infrequent passengers who travel less than twice a month on items costing less than 50 U.S. dollars.
Frequent passengers to Laos are not exempted from VAT and will be charged accordingly.
Passengers entering Laos shall fill in a Customs Declaration Form for Personal Effects and submit it to customs officials upon their entry into the country.
In cases when the personal effects are new, the passenger shall attach a purchase receipt to ease and hasten the calculation of VAT.
If passengers do not have all receipts or eligible documents， or have no documents， the customs officials will have the right to evaluate items according to present circumstances to calculate VAT， reported Vientiane Times.
While the government is not expecting large sums from the VAT collections， it will help to improve revenue collection in the country and assist Laos adjust to international integration， said the report.
~News courtesy of Xinhua~
The Customs Department under Laos' Ministry of Finance will begin collecting Valued Added Tax (VAT) payments in November.
The tax will be collected at the first Thai-Lao Friendship Bridge between Thailand's Nong Khai province and Laos' capital Vientiane followed by the other international border crossings， Bounpaseuth Sikounlabout， acting Director General of the Customs Department was quoted by local Vientiane Times on Sunday.
Earlier， the Ministry of Finance had issued a Provision on the Levy of 10 percent VAT of Passengers' Personal Effects， which stipulates that Lao citizens or expat passengers living in Laos upon entry through border checkpoints including international airports shall pay 10 percent value VAT on their (new or used) personal effects.
The levy of VAT is exempted for infrequent passengers who travel less than twice a month on items costing less than 50 U.S. dollars.
Frequent passengers to Laos are not exempted from VAT and will be charged accordingly.
Passengers entering Laos shall fill in a Customs Declaration Form for Personal Effects and submit it to customs officials upon their entry into the country.
In cases when the personal effects are new, the passenger shall attach a purchase receipt to ease and hasten the calculation of VAT.
If passengers do not have all receipts or eligible documents， or have no documents， the customs officials will have the right to evaluate items according to present circumstances to calculate VAT， reported Vientiane Times.
While the government is not expecting large sums from the VAT collections， it will help to improve revenue collection in the country and assist Laos adjust to international integration， said the report.
~News courtesy of Xinhua~
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