On 28 May 2024, at the Khammuan Provincial Office, Nam Theun 2 Power Company handed over its 2023 Corporate Income Tax on the energy production of 2023 valued at USD 15,179,362 USD to the Government of Laos. Additionally, the company handed over an advance payment of its corporate income tax for the first quarter of 2024 valued at 3,880,145 USD, as financial support amidst the country\u2019s current economic challenges.<\/p>\n\n\n\n
Representing the Government of Laos, H.E. Mr. Vanhxay Phongsavanh, Khammuan Governor received the handover made by the Chief Executive Officer of Nam Theun 2 Power Company Limited, Mr Marc-Antoine Rupp. Also present at the ceremony where Khammuan\u2019s Department of Finance and Department of Energy and Mines.<\/p>\n\n\n\n
On this occasion, Mr Marc-Antoine expressed that this handover ceremony was the first of its kind between Khammuan Province and Nam Theun 2. Over the company\u2019s 25-year concession agreement period (from 2010 to 2035), it is expected that Nam Theun 2 will provide approximately 2 billion USD to the Government of Laos, under the form corporate income tax, royalties, and dividends to its Lao shareholder. The tax, duties and royalties regime under which Nam Theun 2 is bound to aims to progressively increase the revenues to the Government of Laos, as the company becomes relieved of its loans.<\/p>\n\n\n\n
Revenues collected by the Government of Laos from Nam Theun 2 will support the Government\u2019s efforts to further develop the country, with electricity representing over 20% of the country\u2019s total exports.<\/p>\n\n\n\n