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Customs officials stress need for efficient taxation
Customs Department official Mr Sounthala Takounthong has said the auditing of tax payments is relatively new in Laos and experience in the field to date has been limited.
Mr Sounthala made the comments at a meeting in Vientiane on Friday which aimed to inform participants of taxation and customs issues.
The meeting was attended by customs officials and business operators hoping to gain a better understanding of levies and duties.
Mr Sounthala said the review is an ideal opportunity for customs authorities and business operators to discuss the improvement of taxation systems with a view to increasing efficiency.
It is essential that customs authorities and business operators are aware of methods of taxation and understand the regulations stipulated in the General Agreement on Tariffs and Trade (GATT).
The GATT was negotiated during the UN Conference on Trade and Employment. The agreement was signed in 1947 and stayed in effect until 1993, before being replaced by the World Trade Organisation (WTO) in 1995.
During Friday's meeting, business operators were provided with a document outlining their tax obligations, which will also be used as a reference by customs authorities.
Mr Sounthala explained that auditing tax payments is a vital part of tax collection and accounting and is required by Article 13 of Lao Tariff Law as well as the WTO.
Mr Sounthana said taxation methods are being improved and developed in Laos in order to help integrate systems with regional and international bodies in line with the government's policy to open up the Lao economy.
He said he hoped attendees would learn from the meeting and take seriously their tax obligations and responsibilities.
vientiane times
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