PT is determined on a calendar-year basis.
According to the Lao Tax Law No. 70/NA, dated 15 December 2015, the annual tax return is due by 10 January of the subsequent year. Submission of the final tax return will be followed by an audit by the Tax Department.
Payment of tax
PT is payable quarterly in advance, with a final payment after year-end. The first three payments must be paid by 10 April, 10 July, and 10 October of the current tax year. The final payment is due with the submission of the final tax return by 10 January of the subsequent year. The quarterly payments are either based on the actual or prior year's PT (or expected tax for the current year). Any excess PT payment can be carried forward to the subsequent year.
Tax audit process
According to the Enterprise Law 2013, the audit of a large company, who has assets of more than LAK 50 billion, is mentioned. However, in practice, the tax authorities will access the company after the annual tax filing and issue a certificate to the company after they complete their audit process. Most large companies are audited annually in Lao PDR.
Statute of limitations
The statute of limitations is generally three years in Lao PDR.
Topics of focus for tax authorities
There are no areas of special focus in tax examinations in Lao PDR.