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Laos Facts And Figures
Facts About Laos
Laos’ capital, Vientiane, is a wonderful retirement destination. The city has a relaxed feel, with plenty to see and do.
Laos’ French colonial past can be observed in the colonial architecture which makes up the city center. This European architecture lies side by side ancient Buddhist temples creating a unique fusion of European and Southeast Asian heritage.
Here is a list of Laos facts…
| 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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