EuroCham hosted the Laos Ministry of Finance on a working visit organised by EuroCham Laos and the EU Delegation to Lao PDR.
Led by Mr Bryan Fornari, Head of Cooperation at the EU Delegation to Lao PDR and Mr Jack Sheehan, Vice President of EuroCham Laos and Chairman of the Tax committee, the delegation from the Lao Ministry of Finance headed by Director-General Mr Phouthanouphet Saysombath were on a working visit to learn about the engagements between EuroCham Singapore and the Singapore government agencies in matters relating to regional tax, finance, and budget. The meeting also discussed how the Singapore government organises consultation and engagement sessions with industry to provide legislative updates so companies can stay abreast of the latest developments.
This includes briefing sessions with guest speakers from the Inland Revenue Authority of Singapore (IRAS), Economic Development Board (EDB), as well as the Ministry of Finance annual call for feedback to the public on the Singapore Budget. Past topics that were presented included Singapore’s BEPS Action 5 Framework and the IP Development Incentives, and transfer pricing developments. Member companies are also active in sharing with the committee special topics such as tax developments in the neighbouring countries such as GST implementation in Malaysia.