Agreement on Use of Foreign Currency within the Lao People's Democratic Republic
关于在老挝人民民主共和国境内使用外币的协议
ຂໍ້ຕົກລົງວ່າດ້ວຍ ການນຳໃຊ້ເງິນຕາຕ່າງປະເທດ ຢູ່ ສປປ ລາວ
Summary
This agreement adjusts the use of foreign currencies in Laos, stipulating that foreign currency use must prioritize the Lao kip, with foreign currencies as supplementary, and is limited to specific scenarios such as border trade and international transport for payments or receipts.
Articles
Article ມາດຕາ 1
Article 2 Use of Foreign Currency in the Lao PDR
The use of foreign currency in the Lao PDR means the determination of value, pricing, advertising, payment and/or receipt of payment for goods, services and other fees, including the determination of the price structure of goods and services in the Lao PDR in foreign currency.
Article ມາດຕາ 2
Article 2 Principles on the Use of Foreign Currency in the Lao PDR
The use of foreign currency in the Lao PDR shall comply with the following principles:
1. Ensure the economical, lawful, centralized, and unified use of foreign currency, and ensure a strong external payment position;
2. Ensure the management of targets that can use foreign currency in the Lao PDR so that the use of foreign currency is correct according to objectives, targets, and orderly;
3. Ensure the use of foreign currency by enterprises and organizations with cross-border activities is consistent with the nature of each business.
Article ມາດຕາ 3
Article 4 Scope of Application
This agreement applies to individuals, legal entities and organizations, domestic and foreign, that are engaged in activities related to the use of foreign currency in the Lao PDR.
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