[:en]All people who enter Laos bringing with them goods valued at over US$50 will have to pay 10 percent of the goods value to the government as VAT, with the decision already in force. This is in line with an order by the Deputy Prime Minister and Minister of Finance Mr Somdy Duangdy, dated 30 August 2016.[:]
[:en]The Lao Securities Commission Office is advising people considering making deposits with financial institutions to make a careful assessment before going ahead. Various financing companies in Laos are encouraging people to deposit with them by offering a higher rate of interest than that provided by banks but despite the glowing promises of financial gain made by such companies, their long-term viability is uncertain, the securities office warned.[:]
[:en]Lao PDR remains one of the most underdeveloped countries in Southeast Asia. But according to the ADB, the Lao economy is poised for growth thanks to strong performances in several sectors including construction, services and electricity exports. The Lao legal market is also in the developmental stage, being relatively small compared to neighbouring countries such as Thailand, Vietnam and Myanmar. The number of legal professionals in Laos is also small.[:]
[:en]The Taxation Department of the Ministry of Finance is aiming to introduce new land and road tax rates to boost government revenue for next fiscal year. According to the Taxation Department’s report for the first seven months of the 2015-2016 fiscal year, they were yet to determine what the percentage increase would be for the numerous categories of land and road tax.[:]
Kate Baillie, Country Manager of Arion Legal, was honoured to be asked to attend and speak at the Symposium on China – South Asia, Southeast Asia Commercial Legal Cooperation , which was part of the 11th China-South Asia Business Forum, held in Kunming, PR China from 11-14 June 2016.
[:en]The Lao Government ‘slipped through’ a revised tax law recently (Amended Tax Law No. 70/NA, dated 15 December 2015), with the law set to take effect next week on 24 May 2016. But fear not: much of the revised law is similar to the law it replaces, the Tax Law (2011), with a few new inclusions, revisions and corrections.[:]
[:en]The Taxation Department reported recently that tax payments across the country had decreased 5.1 percent during the first seven months of the 2015-16 fiscal year, in comparison to the previous year.[:]
[:en]Kasikornbank (Laos) aims to triple lending growth and open a new branch this year to cash in on strong economic prospects in neighbouring Laos. The bank, a 90%-owned subsidiary of Kasikornbank (KBank), expects 2016 loans outstanding to grow by more than 250% to 1.5 billion baht.[:]
[:en]The enormous drop in revenue generated from mining coupled with improper budget planning has been the main cause of the budget tensions Laos has faced over the past few years, Deputy Prime Minister Somdy Douangdy told parliament recently.[:]
Arion Legal was heavily involved in assisting Havilah in negotiating and completing the deal for the development of the Portia gold mine in South Australia. The deal was recognised for its unique and innovative commercial and funding model which has allowed Havilah to proceed with the development and operation of the Portia gold mine in a tough economic climate for mining projects.
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