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Draft customs law to provide effective international integration
More than 100 customs officials, businesspeople and related officials gathered yesterday in Vientiane to discuss the draft of the new customs law before it is brought to the National Assembly for approval at the end of this year.
Deputy Minister of Finance Ms Viengthong Siphandone and Vice President of the Law Committee of the National Assembly Mr Kisin Sinphangnam presided over the one-day workshop to provide input on the changes to the current customs law that was enacted in 2005.
The participants were from customs offices, organisations and private and state enterprises from the capital and Vientiane province.
“Because our policy is to achieve integration at the regional and international level, it is important to improve our laws and link them with customs regulations,” Ms Viengthong said.
“The improvement of the law is very important because it needs to reflect the nation's social and political development plans today and into the future.”
The new customs law is based on recent changes that have been made to the investment and value added tax laws, she noted.
The objective is to increase effectiveness, expediency, transparency and implement international standards to facilitate trade and integration with regional and international legal systems.
“The accessibility and ability to integrate our customs law with established regimes is especially important as Laos prepares for World Trade Organisation membership. Therefore, the 2005 law has been expanded from 14 to 18 parts and 95 to 128 articles to address new issues and meet the country's goals,” she explained.
The changes to the law include using electronic systems to record details of tariff declarations, enabling tariff and fee payments through the banking system, risk management, allowing tariff declarations in advance, guarantees of tariffs and fees, tariff exemption to promote investment, simplified mechanisms for tariff declaration and a less time consuming process.
The new law will utilise advanced technology, including electronic signatures, in a streamlined process that will stimulate the import and export of goods and facilitate trade with neighbouring countries and regional and international markets, Ms Viengthong added.
A similar meeting will be held in Luang Prabang province for the eight northern provinces and in Savanakhet province for central provinces. The location of the meeting for the southern provinces will be announced at a later date.
According to Ms Viengthong, the draft customs law will be presented to the government for review in October this year and then to the National Assembly for approval at the end of this year.
vientiane times
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