Business sector learns about VAT and tax systems
Business sector learns about VAT and tax systems
Some 50 representatives from the business sectors have learnt about taxation systems and value-added tax (VAT) through a recent meeting in Vientiane.
A dissemination meeting on value-added tax and other taxes and charges was hosted by the Lao National Chamber of Commerce and Industry (LNCCI) recently.
The meeting's aim was to build deeper understanding and create unity for the taxation system in Laos and open an opportunity for representatives from the business sector to seek information from the Tax Department on the pro per payment of taxes and VAT collection and payment.
�This meeting is a consequence of discussions between the public and private sectors at the Lao Business Forum (LBF) previously,� Vice President of LNCCI Ms Valy Vetsaphong said in her opening remarks.
She said participants from the business sector also raised their issues and concerns related to taxes at the previous LBF and proposed that those who acted as the Secretariat of the forum should coordinate, research and report issues to relevant government sectors.
This is to ensure that all issues raised by the business sector would truly impact their business operations and together they would seek solutions to the issues raised.
The Lao Business Forum is a significant stage for discussions between the public and private sectors to improve the business operating environment, with an aim to promote growth in the business sector and boost its contribution t o achieving national development goals.
This meeting was a significant stage for the business sector to solve issues and build understanding on taxes before the upcoming 10th Lao Business Forum in March.
It aimed to give relevant departments and ministries an understanding of issues affecting their business so they will be able to define methods and a timeframe to address them together, Ms Valy said.
