Laos Facts And Figures
Facts About Laos
| Population | 6,911,544 (July 2015 est.) |
| Gross Domestic Product (GDP) | $37.32 billion (2015 est.) |
| GDP Per Capita | $5,300 (2015 est.) |
| Inflation Rate | 5.3% (2015 est.) |
| Currency | kips (LAK) |
| Exchange Rate Versus U.S. Dollar | 8114.95 kips (LAK) per 1 US dollar (June 2016) |
| Language | Lao (official), French, English, various ethnic languages |
| Capital | Vientiane |
| Population of Capital City | 997,000 (2015) |
| 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 | Vary depending on the location and the type of the land.Is levied at annual rates per square meter. |
| Capital Gains 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 |