Nov 16, 2011 (Vientiane Times - McClatchy-Tribune Information Services via COMTEX) -- VIENTIANE (VIENTIANE TIMES/ANN) -- Companies operating in Laos have identified high taxes as one of the main obstacles to doing business in the country.
Speaking in response to the World Bank's latest survey on the Lao business climate, both Laos-based and foreign firms say business tax rates are very high, making it difficult for them to stay competitive.
Companies in other East Asian and Pacific countries have also identified high taxes as a major business obstacle, but to a lesser extent than in Laos, the survey found.
The World Bank released the survey this week. It details business leaders' opinions on what steps the government should take to enable them to operate more effectively and become drivers of economic growth in the Asia-Pacific region.
