TAX & COMPLIANCE
Accounting & Bookkeeping in Laos
Company registration is the start of a business’s life in Laos, not the end of the paperwork. From the date of registration, an enterprise generally takes on ongoing bookkeeping, reporting and filing obligations. This guide explains what to expect.
QUICK ANSWER
A registered enterprise in Laos is generally expected to keep books from the date of registration, record transactions in Lao Kip and the Lao language (unless an exception applies), prepare monthly trial balances, and produce annual financial statements against one of several size-based reporting standards. Widely reported industry guidance cites an annual filing deadline of 31 March and an audit threshold of LAK 50 billion in total assets, but we were not able to independently verify these two specific figures against a current primary government source in this pass — confirm both directly for your enterprise before relying on them. Certain enterprises, including foreign-invested companies, are commonly reported as subject to mandatory independent audit regardless of size.
At a Glance
GOVERNING LAW
Accounting Law (Amended) No. 46/NA (2023), amending Law on Accounting No. 47/NA (2013)
LANGUAGE & CURRENCY
Lao language and Lao Kip, unless the Ministry of Finance grants an exception
REPORTING STANDARD
Tiered by enterprise size: public-interest enterprises apply IFRS; large non-public-interest enterprises apply FRS for Large-sized Enterprises; SMEs apply FRS for SMEs (adapted from IFRS for SMEs); very small enterprises apply a simplified cash-basis guideline
ANNUAL FILING
Commonly reported as due to the Tax Department by 31 March of the following year — confirm this directly, as we could not independently verify it against a primary source
31 Mar
TYPICAL ANNUAL FILING DEADLINE
The deadline is a single date. The records behind it take all year
Enterprises that only attempt to reconstruct their books in the weeks before the annual filing tend to find gaps that are expensive to fix under deadline pressure. AQQOUNT keeps your ledgers, invoices, and supporting records current every month, so the annual filing is a formality, not a scramble.
Why Accounting Matters After Company Registration
OFFICIAL INFORMATION
Registering a company establishes its legal existence. Bookkeeping and accounting obligations begin from that same registration date and continue for as long as the company operates — they are a separate, ongoing responsibility rather than a one-off step.
Official source: Accounting Law (Amended) No. 46/NA (2023)
AQQOUNT PRACTICAL GUIDANCE
See Company Registration in Laos for the registration process itself. This guide picks up from the point registration is complete.
Basic Accounting Responsibilities
OFFICIAL INFORMATION
An enterprise registered as a legal entity is generally expected to conduct bookkeeping and meet its accounting obligations from the date of registration. Transactions are generally recorded on an ongoing basis, with a trial balance and financial statements prepared monthly, and comprehensive financial statements prepared annually.
Official source: Accounting Law (Amended) No. 46/NA (2023)
AQQOUNT PRACTICAL GUIDANCE
Monthly discipline matters here: enterprises that only attempt to reconstruct a full year of transactions at year-end commonly run into inconsistencies that are avoidable with regular monthly bookkeeping.
Bookkeeping Records
Ongoing bookkeeping generally draws on several categories of records, kept consistently through the year:
01Sales & purchase invoices / receipts
The primary evidence for revenue and expense transactions.
02Bank statements & reconciliations
Matched against the general ledger on a regular basis.
03Payroll records
Salary, withholding tax and social security detail for each employee.
04General ledger & trial balance
The core accounting record from which monthly and annual statements are built.
05Fixed asset register
Tracking company-owned equipment, property and depreciation.
Invoices & Supporting Documents
OFFICIAL INFORMATION
Sales and purchase transactions generally need to be supported by proper invoices or receipts, retained as the underlying evidence for both bookkeeping entries and tax filings.
AQQOUNT SERVICES
See Tax & Compliance for Businesses in Laos for how invoicing connects to VAT and withholding tax filing. Confirm current invoice format and retention-period requirements directly, as these are set at a more detailed regulatory level than this page covers.
Tax & Accounting Relationship
OFFICIAL INFORMATION
Bookkeeping records are the foundation for tax filings — monthly VAT and withholding tax returns, and annual profit tax, all draw directly on the same underlying accounting records.
AQQOUNT SERVICES
See Tax & Compliance for Businesses in Laos for the tax filing cycle itself.
Payroll & Employee Records
OFFICIAL INFORMATION
Payroll records sit at the intersection of accounting, tax withholding and social security compliance, and generally need to reconcile across all three.
AQQOUNT SERVICES
See Social Security & Labour Registration in Laos for the registration side of employing staff.
Financial Statements & Reporting
OFFICIAL INFORMATION
Lao accounting regulation distinguishes public-interest enterprises from non-public-interest enterprises, and applies a different reporting standard to each. Public-interest enterprises (broadly: those whose securities are publicly traded, or that hold assets in a fiduciary capacity for the public, such as banks and insurers) apply full International Financial Reporting Standards (IFRS). Non-public-interest enterprises are further divided by size: large-sized enterprises apply the Financial Reporting Standard for Large-sized Enterprises (FRS for LEs); small and medium-sized enterprises apply the Financial Reporting Standard for SMEs (FRS for SMEs, itself adapted from the IFRS for SMEs framework); and very small enterprises apply a simplified Accounting Guideline based on cash received and paid. All of these generally include a balance sheet, income statement, cash flow statement and accompanying notes, scaled to the size of the enterprise.
Official source: Financial Reporting Standards for Non-Public Interest Enterprises, published by the Lao Chamber of Professional Accountants and Auditors (LCPAA) under the Ministry of Finance’s accounting framework
| Enterprise Category | Applicable Standard |
|---|---|
| Public-interest enterprise (e.g. listed company, bank, insurer) | Full International Financial Reporting Standards (IFRS) |
| Large-sized non-public-interest enterprise | Financial Reporting Standard for Large-sized Enterprises (FRS for LEs) |
| Small & medium-sized enterprise (SME) | Financial Reporting Standard for SMEs (FRS for SMEs), adapted from IFRS for SMEs |
| Very small enterprise | Simplified Accounting Guideline (cash-basis recognition) |
AQQOUNT PRACTICAL GUIDANCE
Multiple independent professional-advisory sources (not a primary government publication we could directly verify in this pass) report that mandatory independent audit generally applies to foreign enterprises, state-owned enterprises, public-interest entities, and companies with total assets above roughly LAK 50 billion, under the Law on Independent Audit No. 51/NA (2014) and the Enterprise Law (Amended) No. 33/NA (2022). Do not assume audit is optional simply because a company is small — foreign ownership itself is commonly reported as one of the triggers, independent of the asset threshold. Confirm your specific audit obligation with a licensed auditor, since we were not able to independently verify the exact threshold or whether the categories are alternative or cumulative against a current primary source.
Accounting Systems
OFFICIAL INFORMATION
Businesses in Laos use a range of approaches, from manual bookkeeping through to dedicated accounting software, often paired with an outsourced provider who converts records into the Lao-language, Lao Kip format required for statutory filing.
AQQOUNT PRACTICAL GUIDANCE
There is no single mandated software platform. What matters is that the resulting books satisfy the language, currency and reporting requirements described above — whichever system produces them.
Outsourced Accounting
Many foreign-invested businesses outsource some or all of their bookkeeping and accounting function, particularly where the founding team is not fluent in Lao-language reporting prepared to the applicable Lao standard. AQQOUNT offers Accounting Service, Bookkeeping, and Outsourced Virtual CFO support for businesses that want this handled by a local team.
Generally Applicable Accounting Workflow
01Record transactions as they occur
Daily or weekly recording keeps books current and avoids year-end reconstruction.
02Reconcile bank accounts regularly
Match the general ledger against actual bank statements on an ongoing basis.
03Prepare a monthly trial balance
The core check that the books balance before filings are prepared.
04Prepare annual financial statements at year-end
Balance sheet, income statement, cash flow statement and notes, scaled to your enterprise’s size category.
05Submit annual financial statements
Confirm the current filing deadline and recipient for your enterprise, as this page’s cited 31 March date is not independently verified.
Tax & Payroll Obligations That Depend on Your Business
01File VAT and withholding tax returns
Filing frequency and applicability depend on your registration status and activity — see Tax & Compliance for Businesses in Laos.
02Review payroll and social security figures
Applicable once you have employees; confirm payroll, withholding and NSSF contributions reconcile each pay cycle.
03Schedule an independent audit if required
Confirm whether your enterprise falls into a mandatory-audit category — this is not automatic for every company.
Frequently Asked Questions
When does bookkeeping have to start for a new company in Laos?
Bookkeeping obligations generally begin from the date of enterprise registration, not from the date the business becomes profitable or starts significant trading.
What language and currency do Lao accounting records need to be in?
Accounting entries, books of account and financial statements are generally required to be in the Lao language and in Lao Kip, unless the Ministry of Finance has granted a specific exception.
When are annual financial statements due?
The reporting year runs to 31 December. Industry guidance widely cites a filing deadline of 31 March of the following year, but we were not able to independently verify this specific date against a current primary government source in this pass — confirm the current deadline directly with the Tax Department or your accounting provider.
Does every company in Laos need an independent audit?
No. Mandatory independent audit is commonly reported to apply to foreign-invested enterprises, state-owned enterprises, public-interest entities, and companies above a defined total-asset threshold (reported at approximately LAK 50 billion), under the Law on Independent Audit and Enterprise Law framework. We were not able to independently verify the exact threshold figure in this pass, so confirm your specific obligation with a licensed auditor rather than assuming your company is exempt because it is small.
What accounting standard applies to a small or medium Lao company?
Small and medium-sized non-public-interest enterprises generally apply the Financial Reporting Standard for SMEs (FRS for SMEs), which is adapted from the IFRS for SMEs framework. Large non-public-interest enterprises apply a separate standard (FRS for Large-sized Enterprises), and public-interest enterprises apply full IFRS.
Can I keep my books only in English?
Generally no — statutory books and financial statements are required to be in Lao language and Lao Kip unless an exception is granted by the Ministry of Finance. Many businesses keep a parallel English-language management set alongside the statutory Lao-language books.
Do monthly financial statements have to be filed, or only annual ones?
Monthly trial balances and financial statements are generally expected to be prepared as part of ongoing bookkeeping, while the formal annual filing to the Tax Department follows the year-end statements.
Can AQQOUNT handle our bookkeeping and annual filing for us?
Yes — AQQOUNT’s accounting and bookkeeping team can manage day-to-day bookkeeping, prepare monthly and annual financial statements, and coordinate with a licensed auditor where a statutory audit is required.
Related Guides
01Tax & Compliance for Businesses in Laos
The tax filing cycle that draws directly on your bookkeeping records.
02Social Security & Labour Registration in Laos
How payroll and employee records connect to social security compliance.
03Company Registration in Laos
The registration step that starts the bookkeeping clock.
Need Your Books Prepared to Lao Requirements?
AQQOUNT’s accounting team can manage monthly bookkeeping, prepare annual financial statements, and coordinate audits where required — with books prepared and maintained in accordance with applicable Lao requirements.
Last reviewed: September 2026
Official sources:
- Accounting Law (Amended) No. 46/NA (2023), amending Law on Accounting No. 47/NA (2013)
- Financial Reporting Standards for Non-Public Interest Enterprises — Lao Chamber of Professional Accountants and Auditors (LCPAA)
- Enterprise Law (Amended) No. 33/NA (2022)
- Law on Independent Audit No. 51/NA (2014)
See also: Business in Laos (overview).