Guidelines of the Minister of Finance on Implementing the Value Added Tax Law
财政部部长关于执行《增值税法》的指南
ຄຳແນະນຳ ຂອງລັດຖະມົນຕີກະຊວງການເງິນ ກ່ຽວກັບການຈັດຕັ້ງປະຕິບັດກົດຫາຍວ່າດ້ວຍອາກອນມູນຄ່າເພີ່ມ
Summary
This guide, issued by the Minister of Finance pursuant to the Value Added Tax Law (Amended) No. 52/SPH of 2014, aims to explain the composition of VAT, taxpayers, taxable and exempt goods and services, calculation principles and methods with numerous calculation examples, declaration and payment, responsibilities of relevant departments, etc., for unified understanding and implementation by domestic and foreign taxpayers. Note: The original text is a guide numbered by chapters (1-11, without separate articles); this translation uses the top-level numbered chapters as articles
Articles
Article 1
Part I: Composition, Meaning, and Principles of Value Added Tax.
Value Added Tax is an indirect tax borne by individuals, legal entities, and organizations as taxpayers who consume goods and services within the territory of the Lao People's Democratic Republic;
The Value Added Tax system includes implementation principles, regulations concerning entry into the Value Added Tax system, bookkeeping, use of invoices, tax calculation, declaration, payment, deduction, and refund of Value Added Tax amounts;
Individuals, legal entities, and organizations conducting business activities within the Value Added Tax system, as well as those entrusted by the tax authorities, are responsible for collecting Value Added Tax from importers, buyers, or consumers of goods and services, and remitting it to the state in accordance with the principle of Value Added Tax revenue being credited to the state budget.
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