Presidential Ordinance on Royalty Rate of Natural Resources no. 001/POL, dated 15 December 2015

国家主席关于自然资源费率的主席令第001/国家主席号，2015年12月15日

ລັດຖະບັນຍັດ ຂອງ ປະທານປະເທດ ວ່າດ້ວຍ ອັດຕາຄ່າຊັບພະຍາກອນທຳມະຊາດ ສະບັບເລກທີ 001/ປປທ, ລົງວັນທີ 15 ທັນວາ 2015

Issued by: 老挝自然资源与环境部(已并入农环部)
Date issued: 2015-12-15

Summary

This Presidential Decree stipulates the royalty rates for natural resources, aiming to ensure accurate, uniform, and effective royalty collection nationwide, generating revenue for the government budget and promoting socio-economic development. This Decree applies to domestic and foreign individuals and legal entities authorized to engage in natural resource business activities, clarifying their fiscal obligations to the state, and establishing uniform rate standards based on the level of production development, the government's economic and fiscal policies, and the principles of sustainable development.

Articles

Article 1

Article 1: Purpose
This Presidential Ordinance is to set out royalty rates of natural resources to ensure
that the collection the royalty of natural resources is in an accurate, uniform and effective
manner nationwide with the aim to create income to the government’s budget in
accordance to the laws and contribute to strengthening the national socio-economic
development.

Article 2

Article 2: The Royalty of Natural Resources

The royalty of natural resources is financial commitment that has to be paid by
domestic and foreign individual and legal entities who are authorised to operate businesses
in relation to the natural resource. The royalties shall be paid to the government at the rates
stated in this Presidential Ordinance.

Article 3

Article 3: Principles of setting the royalty rate of Natural Resources
The royalty rates of natural resources should be set in accordance to the principles
as follows:
1. Based on the fundamental growth levels of production, economy and the economic
and finance policies of the government;

2. Ensure sustainable development, effective utilization of natural resources and
sustainable conservation;
3. Set out as the common royalty rates throughout the country.

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