Laos published Presidential Decree No. 003/PPT of 19 March 2024 in the Official Gazette on 26 March 2024. As previously reported, the Decree increases the standard VAT rate back to 10%. The standard rate was reduced from 10% to 7% with effect from 1 January 2022 in order to stimulate the economy. In particular, the Decree provides that the VAT rate is 10% for:
- The import of goods, the supply of goods, and general services within Laos;
- The import and supply of minerals with Laos; and
- The sup…