Laos Facts And Figures

A monk from Laos wearing an orange robe and walking with two buckets in his hands

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  Lao Airlines

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