LXML awarded as outstanding tax payer and contributor to development of Lao PDR
April 19, 2021
LXML received an award, ‘Category 1’ as an outstanding tax payer and contributor to socio-economic development of Lao PDR.
In 2020, LXML paid over US$32 million to the Lao Government in royalties and taxes. LXML produced over 2 tonnes of gold in 2020.
Since operations commenced in 2003, LXML has paid more than US$1.5 billion total direct revenue to the Lao Government in royalties, taxes, and dividends. These contributions will continue to support the Government’s National Socio-Economic Development Plan.
“LXML is proud of our contribution to development in Lao PDR” said Mr Saman Aneka, LXML Managing Director. “In addition to direct revenue, LXML has contributed hundreds of millions of dollars in employment and training, infrastructure, and local business and community investment.”
This is the first time the Ministry of Finance has acknowledged the performance of Lao and Foreign businesses in making tax payments as required by law. Over 100 companies were selected into 2 Categories based on a set of tax compliance criteria.
52 companies, including LXML, received the highest award, and 88 companies were recognised in the second category.
“I congratulate businesses in Laos and encourage them to continue performance next year” said Mr Bounchom Oubonpaseuth, Minister of Finance.
130,000 business units are registered nationwide.