COVID-19 Government Initiatives & Support in the Lao PDR
With the continuation of the Prime Minister’s orders on measures for COVID-19 prevention and control until 4 June 2021, we have pulled together a guide on some of the current Government initiatives and support available to businesses in the Lao PDR. In our guide, we provide details on:
- Banking & Finance: The latest credit policies and guidelines for commercial banks and financial institutions. As a business, you should discuss with your bank whether a postponement of loan repayments and interest is applicable to your situation, whether your loan can be restructured, or whether new financing is available.
- Employment & Labor: Businesses should consider the applicable regulations when amending employment terms and conditions, what unemployment benefits may be available to staff, whether a business can delay social security contributions and whether there will be a reduction in utilities fees.
- Taxation: Businesses should also note the extension for filing of the FY2020 financial statement and also the new policies on taxation exemptions and extensions.
Please don’t hesitate to reach out to Kristy Newby (Partner, Lao PDR Managing Director & Co-Head of Regional Compliance & Investigations Practice) if you have specific questions.
The information provided in this email is for information purposes only and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.
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