Decree on Foreign Currency Management and Promotion of Kip Usage
关于外币管理及促进使用基普（Kip）的法令
ດຳລັດ ວ່າດ້ວຍການຄຸ້ມຄອງເງິນຕາຕ່າງປະເທດ ແລະ ສົ່ງເສີມການນຳໃຊ້ເງິນກີບ
Summary
Decree No. 150/ນຍ of the Prime Minister of the Lao PDR (May 18, 2007) aims to implement the spirit of the Law on Foreign Currency and Valuable Items Management, curb the misuse of foreign currency within the country, promote the use of Kip, and enhance the value of the national currency to maintain financial, monetary, and economic stability.
Articles
Article 1
Purpose. To implement the essence of the "Regulations on Foreign Currency Management"—a law of significant importance for maintaining national finance, currency, and economic stability—so that it is comprehensively and effectively enforced; simultaneously to promote patriotism, safeguard economic independence, encourage and promote the use of Kip, enhance the value of the national currency, and curb the abuse of foreign currency within the country.
Article 2
Implementation. 2.1. All ministries, ministry-level agencies, the Mayor of the Capital, and Governors of all provinces nationwide shall intensify the dissemination, public awareness, education, and training on foreign currency management regulations, so that society recognizes and practically understands the importance of protecting, maintaining, and enhancing the value of the Kip, managing foreign currency, and restricting until stopping the misuse of foreign currency within the territory of the Lao People's Democratic Republic. 2.2. All ministries, ministry-level agencies, the Mayor of the Capital, Governors, and relevant departments nationwide shall collect and pay taxes, fees, service charges, and various state service fees in Kip; except where otherwise provided by laws and regulations or approved by the Government for collection and payment in foreign currency. This is to align with Article 78 of the Tax Law. 2.3. All enterprises and shops, whether state-owned or private, shall price and display prices for goods and services in Kip. 2.4. All commercial banks shall expand currency exchange points, encourage and promote the establishment of joint-stock exchange shops and private exchange shops, to make them widely distributed nationwide, in order to facilitate currency exchange for society. 2.5. The Bank of the Lao People's Democratic Republic (Central Bank) shall study and issue regulations on the management of currency exchange at exchange points, enabling exchange points to provide currency buying and selling services to society at an appropriate level. 2.6. The Bank of the Lao People's Democratic Republic (Central Bank) shall take the lead in coordinating with sectors and localities to promote, supervise, and inspect the implementation of this Decree, study various issues deemed to constitute obstacles and cause difficulties for settlement in Kip, in order to formulate resolution measures in stages, and report to the Government for instructions.
Article 3
Measures for handling violators. In the event of violations of this Decree, the Bank of the Lao People's Democratic Republic (Central Bank) is authorized to take the lead in implementing corresponding measures based on the severity of the circumstances, in accordance with Regulation No. 01/ສປປ dated August 9, 2002, and other relevant laws.
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