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Government of Laos loses billions in tax revenue

As Laos' economy is beginning to develop and grow, the government is facing a problem common to countries whose administrations are still designed for a simpler age.
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Asia, Asia Pacific, geography, taxation, Government of Laos loses billions in tax revenue

As Laos' economy is beginning to develop and grow, the government is facing a problem common to countries whose administrations are still designed for a simpler age.

The Vientiane government doesn't have the ability to collect all the taxes and revenue due to it.

Finance Minister Phouphet Khamphounvong said recently he believes the government missed out on collecting 1,300 billion kip.

That is the equivalent of $10 billion.

This loss was in the last fiscal year alone and is estimated to be only slightly less the year before.