Knowledge

Based on the Ministry of Finance Instruction No. 1079/MOF, dated March 23, 2026, here are the key takeaways for businesses regarding VAT refunds:

1. Objective of General Purpose Financial Reporting To provide financial information about the reporting entity that is useful to existing and potential investors, lenders, and other creditors in making decisions relating to providing resources to the entity. 2. Qualitative Characteristics of Useful Financial Information Fundamental Qualitative Enhancing Qualitative Characteristics 3. Elements of Financial Statements Element

Laos government has change Value Added Tax rate from 7% to 10% in 2024 This regulation specifies the change of value-added tax rate as stipulated in the tax law, as per Article 01, paragraph 2, of the tax law dated July 07, 2021, and Article 17, paragraph 1, of the value-added tax law, which states

Which business received tax exemptions in LAO PDR? Generally, no businesses in Lao PDR are completely exempt from all taxes. However, certain businesses can receive tax exemptions, tax reductions, or pay a simplified lump-sum tax instead of the standard profit tax, particularly if they are small or operate in a promoted sector. 💰 Tax Exemptions

How to register for business in LAO PDR? Registering a business in Laos involves several steps, and the process can vary depending on the type of business, the industry, and whether you are a foreign or local investor. The government has made efforts to streamline the process, including the introduction of an online registration system.

What are the differences between a financial lease and an operating lease? A financial lease is like buying an asset with a loan, while an operating lease is more like a rental agreement. The key difference lies in who holds the risks and rewards of ownership, and how the lease is treated for accounting and