Better Infrastructure for Facilitating Customs and Trade in Lao PDR
Updated on : 23-09-2015
The Lao PDR Customs Department of the Ministry of Finance has launched the Customs and Trade Facilitation Project (CTFP) since October 2008 under the financial support of the International Development Association (IDA). The project aims to improve the efficiency and effectiveness of customs administration and simplify customs procedures. A World Bank’s progress report on CTFP shows that as of August 2015, the ASYCUDA system is now in live operation at 21 customs checkpoints, accounting for 99 percent of all Lao PDR trade. In addition, 8 checkpoints have been installed the electronic payment system (SmartTax) which connects the ASYCUDA system to commercial banks to streamline the payment of duties and taxes and provides a real-time link between ASYCUDA and the Government’s financial management information system. The automation has eliminated the inefficient and time consuming process of manually calculating and submitting daily revenue collection reports at the checkpoints.
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