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Laos Facts And Figures
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Facts About Laos
| Information Type | Laos Data |
|---|---|
| Population | 7,275,560 (June 2020 est.) |
| Gross Domestic Product (GDP) | US$20.50 billion (2020 est.) |
| GDP Per Capita | US$2,919 (2020 est.) |
| Inflation Rate | 6.5% (2020 est.) |
| Currency | Kips (LAK) |
| Exchange Rate Versus U.S. Dollar | 9030.00 kips (LAK) per 1 US dollar (June 2020) |
| Language | Lao (official), French, English, various ethnic languages |
| Capital | Vientiane |
| Population of Capital City | 683,000 (2020) |
| Time Zone | UTC/GMT +7 hours |
| Seasons | Wet and dry (wet season runs from around May to October) |
| International Dialing Code | 856 |
| Electricity | 230V, 50 Hz |
| System of Government | Communist state |
| Name and Party Affiliation of Current Leader | President Bounnyang Vorachit (Since April 2016) (Lao People’s Revolutionary Party) |
| Income Tax Rate for Residents | Income tax is levied at progressive rates from 5% to 25% |
| Property Tax | Income tax is levied on capital gains derived from selling real property. |
| Inheritance Tax | No |
| Rental Income Tax | 15% |
| Transfer Tax | Immaterial amount – depending on type of property- based on the sales price aprox. 2.4% |
| Sales Tax | 10% |
| Restrictions on Foreign Ownership of Property | Laos law stipulates that foreign citizens may not own land |
| Local Chamber of Commerce | |
| American Chamber of Commerce | |
| Primary Exports | Wood products, coffee, electricity, tin, copper, gold |
| Residency and Visa Requirements | Tourist Visas (B3) – Upon arrival now into Lao you receive a 1 month tourist visit for $35, this however is easily extended to 3 months but a visit to the immigration department |
| Special Benefits for Foreign Residents or Retirees | No |
| National Airline | Lao Airlines |
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