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LAOS: Imported Machinery and Capital Goods Duty Waivers Application Procedure Announced

The statutory procedures for claiming duty and VAT waivers on machinery and raw materials imported for use in export-oriented manufacturing in certain state-designated priority sectors have now been announced by the Central Investment Promotion and Supervision Committee. Among the specified requirements is that a report detailing the previous import of such materials, as well as an annual business plan outlining all planned imports, must be submitted.

Additionally, in order to qualify for any such exemptions, businesses must be tax-compliant, employ 30 skilled local workers or at least 50 local workers on a minimum one-year contract and be in receipt of at least Kip 1.2 billion (US$139,459) in capital investment.

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