26 July 2017
LAOS: Would-be Tourism Investors Wooed with Tax Exemptions and Freedom from Land Lease Fees
Would-be investors in the country’s tourism sector are set to be wooed by exemptions from tax on all profits for up to four years, as well as freedom from land lease fees for a 10-year period. The moves come as the government looks to promote FDI in tourism-oriented infrastructure and in the development of facilities at a number of newly-designated tourism sites.
In 2016, a study by the Laos government identified more than 2,100 potential sites of tourist interest across the country, although only some 40% have subsequently been developed into visitor sites. The government has yet to announce a date for the implementation of the incentives and has not specified as to whether eligibility will extend to all of the country’s proposed tourism sites.