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Deputy Minister of Finance Dr Bounleua Sinxayvoravong chairs the meeting on Friday.

The introduction of a Law on Tax Protection will be announced soon, aimed at enhancing taxpayers’ understanding of tax payment processes and enabling the government to strengthen revenue collection through modern payment methods and monitoring.

A meeting to discuss a draft of the law took place in Vientiane on Friday, chaired by Deputy Minister of Finance, Dr Bounleua Sinxayvoravong.

The meeting was attended by 170 officials from the ministry’s Tax Department, tax offices in Vientiane’s nine districts, the tax departments of five provinces, and other related bodies.

The meeting was funded by the European Union through the World Bank.

Speaking at the meeting, Dr Bounleua said “During this busy period of annual revenue collection and switching to modern revenue collection methods, we are revising four tax-related laws.”

“One of our policies includes the introduction of a draft Law on Tax Protection, in order to put into practice the resolution adopted at the Finance Ministry’s Party Committee meeting,” he added.

The improvement of legislation aims to uphold the law and enable its practical implementation.

The Ministry of Finance and related government bodies have strengthened numerous laws and methods of tax payment in order to encourage more people and businesses to pay their taxes as well as to more easily monitor and boost revenue collection.

The Minister of Finance, Mr Somdy Duangdy, previously highlighted the importance of tax payment using digital systems and creating conditions that were more favourable to the widespread payment of taxes by all entities.

The e-tax payment system is aimed at supporting the government to achieve its revenue collection targets, which have not been met in recent years.


Information Source: Vientiane Times