On 11 May 2017 the Draft Amended Law on Water Resources was adopted by the National Assembly and is currently under committee review.
In accordance with the 5 Year Work Plan for the Creation and Revision of Laws of the VIII National Assembly (2016-2020) the Law on Minerals is currently under revision to be submitted to the Prime Minister’s Office for submission next month.
All business relating to financial institutions (including deposit/non-deposit-taking micro financial institutions, credit unions and savings, leasing companies, pawn shops, money transfer companies, etc) is subject to temporary suspension from 1 March 2017 until 28 February 2019.
In line with the policy to adjust the maximum ceiling of the insurable earnings under the National Social Security Fund framework at five times the minimum wage set by the Government of Lao PDR and adjusted from time to time, as of 1 January 2017 the maximum ceiling of insurable earning has been raised from 2 million Kip to 4.5 million Kip.
In case you missed it, Singapore’s reputation as an attractive holding company location for investments into Lao PDR recently went up a notch: after being signed way back in February 2014, the long-awaited tax treaty/double taxation agreement between Lao PDR and Singapore (the “DTA”) became effective on 1 January 2017.