Laos Reduces VAT Rate as Part of Tax Amendments Law 7

Laos reportedly published a tax amendments law in the Official Gazette on 28 December 2021 that provides various changes, including in relation to VAT. The changes generally apply from 1 January 2022 and include:

• The standard VAT rate is reduced from 10% to 7%;
• Supplies of goods outside special economic zones (SEZs) by SEZ companies are brought within the scope of VAT (previously, only services supplied outside SEZs by SEZ companies were subject to VAT);
• Conditions for the deduction of input…