On 14 July 2015, the National Assembly of Lao People’s Democratic Republic Laos passed the Law on Business Competition (No. 60/NA) Competition Law, which states that it will come into force on issue by the President of the National Assembly of the Promulgating Decree and 15 days after publication in the Government Gazette....
Read more »Decision No. 1005/MOIC on Wholesale and Retail Businesses issued on 25 May 2015 and its additional instructions (No. 0515/MOIC.DTD, 17 June 2015) have just come into force which now allow foreign individuals and legal entities to operate wholesale and retail businesses in the Lao PDR. This Decision marks a major reform and significant liberalization of...
Read more »The Law on Anti-Money Laundering and Combatting the Financing of Terrorism (“Anti-Money Laundering Law”) (No. 49/NA, 21 July 2014) became effective on 24 February 2015. The Anti-Money Laundering Law provides for new measures and obligations for the purposes of implementing anti-money laundering controls and combatting the financing of terrorism. The Anti-Money Laundering Law applies...
Read more »Welcometo the new DFDL Legal Brief Lao PDR edition. In this issue we will summarize two recent decisions on updating employment documents and increasing the minimum wage. Updating employment documents before the end of April 2015 The Ministry of Labor and Social Welfare passed the Notification on Effectiveness of Implementation of the (amended) Law on Labor (No. 3438/MLSW, 27...
Read more »Welcome to the new DFDL Legal Brief edition. In this issue we will inform you about four new Lao PDR laws and three amended existing laws. But first things, first: CorrectionsPlease note the following corrections to the DFDL Legal Brief, Important Update: Labor Law dated 4 December 2014: The 2013 Labor Law became effective on...
Read more »The National Assembly adopted an amended Labor Law (No. 43/NA, 24 December 2013) (“2013 Labor Law”) which was published in the Lao Gazette on 14 October 2014 and became effective on 29 October 2014. The 2013 Labor Law repeals the Labor Law (No. 06/NA, 27 December 2006) (“2006 Labor Law”) and applies to Lao and...
Read more »Recently several notifications and amendments have been issued in the Lao PDR: Amended Law on Enterprises (“2013 Enterprise Law”) Notification on Importation of Materials, Products and Objects (“Notification 06068”) Notification on Condition and Document Completion for the Establishment of Financial Leasing Company (“Financial Leasing Company Notification”) Decision on Forward Contract for the Sale-Purchase of Foreign...
Read more »In recent months, the DOIC has issued several notifications to monitor the registered and operating legal entities under its authority. Amendment of Enterprise Registration Certificate for Consulting Company Registered with Vientiane Department of Industry and Commerce On 7 August 2014, the DOIC published Notification No. 1495/DOIC requesting legal entities conducting consulting activities, such as...
Read more »On 13 July 2014 the amended Law on Accounting (No. 47/NA, 2013) came into force. The new law prescribes accounting formalities for international legal entities. Passed by the National Assembly on 26 December 2013, the new law replaces the former Law on Accounting (No. 01/NA, 2 July 2007). Improvement of Accounting Standards The purpose of the Amended...
Read more »DFDL advisers contributed the Lao PDR chapter to the “Asia Pacific Property Investment Guide.” To download the guide for free, please click here....
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