Tax officials have put in place a taxation system compatible with mobile phone apps and other conventional means for people bringing products worth US$50 or more from abroad at the First Lao-Thai Friendship Bridge.
The taxpayers can pay the VAT by filling in conventional VAT declaration forms or by using the mobile apps SmartVAT or BCEL One.
Specifically, smartphone users with wifi activated will have their SmartVAT provided to them through the wifi system at the Lao Thai Friendship Bridge. The VAT required will pop up on their phones and they can use the system to settle the amount owed.
SmartVat was developed in cooperation with tax authorities and the Banque Pour Le Commerce Exterieur Lao so that people can declare the value of their goods and pay the corresponding tax using their smartphones, according to Deputy Chief of the 1st Lao-Thai Friendship Bridge Customs Checkpoint Mr Soutchay Inthavong.
Yesterday witnessed the inauguration of the experimental VAT system at the 1st Lao-Thai Friendship Bridge, the first international checkpoint in the country to have such a taxation mechanism put in place.
The 1st Lao-Thai Friendship Bridge is the first to have the experimental VAT charging system implemented. Imposing VAT charges at border checkpoints is to materialise the order made on August 30, 2016 by Deputy Prime Minister and Minister of Finance Mr Somdy Douangdy.
The order stipulates that each person entering Laos must pay a value added tax equivalent to 10 per cent of the value of goods they are bringing in from abroad.
Source: Lao News Agency