Recent developments

•In November 2020, the first refinery in Laos, Laopec began operation. This refinery has the capacity to produce 1 million tonnes/year of refined petroleum products

•In December 2021, the government reduced the Value Added Tax for imported gasoline from 10% to 7%. Subsequently, the government increased excise taxes for regular and premium gasoline, to stimulate the country’s economy in the post COVID period

•On May 9, 2022, the government implemented a three-month excise tax reduction measure on regular gasoline, to stabilize the domestic fuel price in Laos