Licenses library · 193
Account Holding Certificate
建账证明
ໃບຕິດຕາມການຖືບັນຊີ
Registered business entities, which are legal entities and enterprises that conduct temporary business, received a certificate of obligation from the tax authorities in Lao PDR throughout the country (Chapter 1, Clause 4 of Instruction No. 0928). Apply at Accounting Department.
Who needs this
Registered business entities, which are legal entities and enterprises that conduct temporary business, received a certificate of obligation from the tax authorities in Lao PDR throughout the country (Chapter 1, Clause 4 of Instruction No. 0928).
Requirements
- The accounting enterprise entity shall submit the annual financial statements and audit report (if any) to its respective accounting sector and other sectors within 3 months after the end of the fiscal year (no later than March 31 of each year) (Chapter 3, Clause 9 of Instruction No. 0928)
Documents — first application
| Document | Note |
|---|---|
| Required documents are different based on the types of the enterprise | The enterprise units are required to submit the documents on the financial report and auditing report (if any) depending on the types of the enterprise as defined in Article 31 of the Law on Accounting: 1. Micro-enterprise: - Daily Accounting Book - Receipts on income-expenditure in cash 2. Small and Medium Enterprise: - Financial Statement - Progress Report - Annex on Financial Report 3. Big Enterprise and Enterprise for public benefits are required to submit the same documents with Small and Medium Enterprise together with the Capital Changes Report and Crash Flow Report. In addition to the financial report, the enterprise shall submit the supporting documents related to obligation fee payment such as Annual Tax Payment and other documents. This is to verify the financial status and the accuracy of the holding of bank accounts. (Chapter 3, Clause 8 of the Instruction No. 0928) |
Legal framework
- Instruction Implementing Law on Accounting
- Law on Accounting (Revised)
How to submit
- Means of presentation
- At the Authority Offices
- Address of authority
- Accounting Department, Ministry of Finance
- Processing time
- 5 The issuance of the account holding certificate shall be completed no later than 5 working days after completion of the memorandum (Chapter 3, Clause 12 of Instruction No. 0928).
Validity and renewal
- Has an expiry date
- YES
- Validity
- 12 months
- Renewal process
- The account holding certificate is valid from January 1 to December 31. 1. For enterprise entities that already have an account but do not have an account holding certificate or an entity that has just been set up or an entity that has just started implementing accounting work, shall follow the process below: - Conduct an inspection; - Make a memorandum of the implementation of accounting work; - Issue the annual account holding certificate When the first annual financial statements are submitted or sent, the inspection must be carried out within 30 working days after receiving the notice from the accounting authority to the enterprise entity, otherwise, there will be a warning and other measures will be taken in accordance with the rules and regulations. After the inspection, the accounting entity and the accounting authority must make a memorandum and complete the documents within 45 working days, and issue the accounting holding certificate no later than 5 working days after completing the memorandum. 2. For entities that have had an audit monitoring (annual auditing enterprise monitoring certificate), shall follow these steps: - Inspect the documents and, if necessary, inspect other accounting documents, and to address the issues, a site inspection shall be conducted; - Make notes to collect information on the implementation of accounting work; - Issue annual auditing enterprise monitoring certificate. After the inspection, the implementing accounting entity and the accounting inspection authority must make a memorandum and complete the documents within 30 working days and issue the accounting holding certificate no later than 5 working days after completing the memorandum (Chapter 3, Clause 12 of Instruction No. 0928).
Additional comment
The account holding certificate is used to monitor and evaluate the accounting performance of the implementing enterprise accounting entity in the previous year as a basis for the issuance of the account holding certificate for the next year, which has a period of one accounting year (January 1 to December 31 of each year). The account holding certificate is not used to verify the accuracy of the figures in the financial statements of the accounting enterprise entity, but to emphasize the promotion of the accounting work in accordance with accounting laws and regulations (Chapter 2, Clause 6 of Instruction No. 0928).