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Laos Facts And Figures

Facts About Laos

Information TypeLaos Data
Population6,911,544 (July 2015 est.)
Gross Domestic  Product (GDP)$37.32 billion (2015 est.)
GDP Per Capita$5,300 (2015 est.)
Inflation Rate5.3% (2015 est.)
Currencykips (LAK)
Exchange Rate Versus U.S. Dollar8114.95 kips (LAK) per 1 US dollar (June 2016)
LanguageLao (official), French, English, various ethnic languages
CapitalVientiane
Population of Capital City997,000 (2015)
Time ZoneUTC/GMT +7 hours
SeasonsWet and dry  (wet season runs from around May to October)
International Dialing Code856
Electricity230V, 50 Hz
System of GovernmentCommunist state
Name and Party Affiliation of Current LeaderPresident Bounnyang Vorachit (Since April 2016) (Lao People’s Revolutionary Party)
Income Tax Rate for ResidentsIncome tax is levied at progressive rates from 5% to 25%
Property TaxVary depending on the location and the type of the land.Is levied at annual rates per square meter.
Capital Gains TaxIncome tax is levied on capital gains derived from selling real property.
Inheritance TaxNo
Rental Income Tax15%
Transfer Taximmaterial amount – depending on type of property- based on the sales price aprox. 2.4%
Sales Tax10%
Restrictions on Foreign Ownership of PropertyLaos law stipulates that foreign citizens may not own land
Local Chamber of Commerce 
American Chamber of Commerce 
Primary Exportswood products, coffee, electricity, tin, copper, gold
Residency and Visa RequirementsTourist 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 RetireesNo
National Airline Lao Airlines

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