The European Chamber of Commerce and Industry in the Lao PDR (‘ECCIL’), in partnership with the Tax Department of the Ministry of Finance, DFDL Legal and Tax Services, and supported by the European Union, organized the first ECCIL Tax Forum at the Crowne Plaza, Vientiane on 8 December 2017.
Jack Sheehan, ECCIL Vice President and DFDL Partner chaired the proceedings, while His Excellency Phouthanouphet Saysombath, Director General of the Law Tax Department, provided the introductory remarks to open the panel’s discussions. The Forum was held in response to several changes to Lao VAT legislation in recent years, and featured prominent VAT advisers to the Lao Government, along with leading tax practitioners such as Mr. Phommy Nammavong, Acting Director of the Tax Department. Our assembled experts elaborated further on what the new rules mean for local and foreign businesses operating in the country, for example, the list of VAT-exempt goods and services, and the new rules on input VAT deductions among many others. Invaluable advice was then provided on the optimal methods of managing a company’s tax affairs in the Lao PDR and the best ways of ensuring full compliance with local laws.
The discussions were followed by a lively Q&A session during which the over 140 guests in attendance were delighted with the opportunity to have their crucial tax concerns and queries comprehensively addressed by senior Lao tax officials and the other tax professionals on the panel.
Other key topics discussed included the latest developments in Lao Tax Policy, the latest updates on Lao Accounting Compliance, while Jack provided an overview of the international developments throughout the region, now exerting their influence in the sphere of Lao taxation. We wish to thank all of our speakers, participants, and guests for making this inaugural tax forum such a resounding success.
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