On 10 February 2021, the Ministry of Finance has issued a Notification (№ 0831/MoF) regarding the issuance of Taxpayer Identification Numbers (“TIN“) for individuals.
Under the new Notification, local and foreign individuals, including civil servants, officials, soldiers, police, businesspeople, retailers and online sellers, sportspersons, performers, technicians, experts, consultants, employers, employees, workers, laborers, and others, must register and obtain a TIN at local tax offices by 30th June 2021.
The required documents and information to be submitted for registration at local tax offices, are as follows:
- Valid ID Card/passport (not yet expired);
- Family registration book;
- All registered telephone numbers;
- Occupations (must clearly specify the place of work, position etc);
- All bank accounts; and
- Social security card number.
This Notification on TIN is issued in accordance with Article 6 of the Income Tax Law which provides that individuals, legal entities or organizations earn incomes from business operation or incomes from professional activities and other incomes must pay income tax and must have a TIN; and Article 21 of the Tax Administration Law, which requires Lao citizens, aliens, foreigners, stateless persons, legal entities or organization conducting business activities or other activities generating incomers inside or outside Lao PDR must pay the taxes and must have a TIN.
We trust that our tax updates are helpful. If you have any questions or need any assistance with the new TIN requirements, please let feel free to contact Jack or Senesakoune.
The information provided here is for information purposes only and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.
Partner & Head of Regional Tax Practice