On March 19, 2024, Lao President Thongloun Sisoulith signed the third presidential decree, raising the value-added tax on commodity imports, minerals, and electricity from 7% to 10%;

On March 19, 2024, Lao President Thongloun Sisoulith signed the presidential decree No. 003, raising the value-added tax in Laos from 7% to 10%. The presidential decree will take effect from the date of signing, that is, from March 19.

Presidential Decree on the Adjustment of VAT Rates

- In accordance with the Constitution of the Lao People's Democratic Republic No. 63 of December 8, 2015;

- In accordance with the Law on Tax Administration (Revised Version) No. 66 of June 17, 2019, the Legal Branch of the Lao-Chinese Translation Committee No. 7- In accordance with Resolution No. 20 of the Standing Committee of the National Assembly on March 7, 2024;

- In accordance with Proposal No. 06 of the Standing Committee of the National Assembly on March 7, 2024:

The President of the Lao People's Democratic Republic promulgates a decree:

Article 1

This decree amends the VAT rate stipulated in the first paragraph of Article 17 of the Law No. 01 of August 7, 2021 on the Amendment of Some Provisions of the Tax Law, from 7% to 10%, in order to increase state budget revenue and contribute to the country's economic and social development.

Article 2 VAT Rates

The following business activities are subject to VAT at a rate of ten percent (10%):

- Import of goods, supply of goods and general services subject to VAT within the Lao People's Democratic Republic;