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15 June 2021

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Laos Provides Support Measures in Light of Second COVID-19 Wave

According to recent reports, the Laos tax authority has issued Notification 532/PMO of 20 May 2021, which provides certain support measures in light of a second wave of the COVID-19 in the country. Tax measures include:

  • A personal income tax exemption on salary of up to LAK 5 million for April, May, and June 2021;
  • An income tax exemption for micro enterprises for April, May, and June 2021;
  • A customs duty and taxes exemption on the import of goods for the prevention and treatment of COVID-19, including vaccines, PPE, and medical equipment;
  • An extension of the submission deadline for 2020 financial statements to 30 June 2021;
  • An extension of the payment deadline for road tax to 30 June 2021; and
  • The suspension of social security contributions for businesses that have suspended operations.

In addition to the measures above, it is also provided that the Ministry of Finance will consider policies for the reduction of the VAT rate in certain sectors, including the tourism and service sectors. Details on such a reduction will be published once available.

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