Lao govt modernises tax system to support economic stability
VIENTIANE: The Lao government, in partnership with the Asian Development Bank, has officially launched a tax reform project aimed at boosting revenue collection and strengthening the country's economic resilience.
The Domestic Resource Mobilization Modernization Project is designed to enhance the efficiency, transparency, and effectiveness of tax systems, and address macroeconomic vulnerabilities that threaten the country's sustainable development, local newspaper Pasaxon reported on Monday (May 19).
The project focuses on modernising Laos' tax system through digital innovation and capacity building.
This initiative is expected to improve public service delivery, support debt reduction, and foster a more equitable and sustainable economy.
The project is a major step toward digital governance, fiscal reform, and inclusive economic growth, reinforcing the government's commitment to sustainable development. - Xinhua
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