Portal
Type: Instruction
Responsible Agency: Bank of the Lao PDR
Issuing Date: 2015-05-09
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Contents
Part 2:Declaration of Cash, Precious Metals and Financial Instruments
Article 3 Declaration of Passengers Enter-Exit Lao PDR
Article 4 Declaration Procedure
Article 5 Inspection of Customs Officers
Article 6 Reporting by Customs Officers at Border Check Points
Article 7 Keeping Cash, Precious Metals and Financial Instruments
Article 8 Awards for Good Performance
Article 9 Sanctions for Violation
Lao People’s Democratic Republic
Peace Independence Democracy Unity Prosperity
National Coordination Committee for
Anti-Money Laundering and
Countering of Financing of Terrorism No. 06/NCC
Vientiane Capital, date 19 May 2015
Instruction
On the Declaration of Cash, Precious Metals
and Financial Instruments when Entering-Exiting
Lao PDR.
- Pursuant to the Law on Anti-Money Laundering and Countering of Financing of Terrorism No. 50/NA, dated 21 July 2014;
- Pursuant to the Decree on the Organization and Operation of the Coordination Committee for Anti Money Laundering and Countering of Financing of Terrorism No.364/PM, dated 13 October 2014;
- Pursuant to the Law on Customs Duties No.04/NA, dated 20 December 2011;
- Pursuant to the Request letter of the Anti-Money Laundering Intelligence Unit No.446/AMLIU, dated 07 May 2015.
The President of the National Coordination Committee for
Anti-Money Laundering and Countering of Financing of Terrorism hereby issued this Instruction:
General Provision
This instruction is issued to elaborate on Article 33: The Declaration of Cash, Precious Metals or Financial Instruments and Article 34: Inspection by Customs Officers at the Borders of Lao PDR in accordance with the Law on Anti-Money Laundering and Countering of Financing of Terrorism for clarity in implementation.
The meanings of the terms that are used in this Decision are as follows:
- Cash refers to bank notes and coins which may be in different currencies;
- Financial instruments refer to bank checks, traveler’s checks, paychecks, bonds, bank drafts and other similar instruments;
- Precious metals refer to gold bars, silver or gold jewelry, diamond, sapphires and other precious metals and stones that are valuable or can be used for making international payments;
- Passengers refers to Lao citizens, foreigners or aliens that travel in and out of Lao PDR whether as an individual, legal entity or organization;
- Customs Border Check Points refer to international customs check points, local customs check points and traditional customs check points that allow passengers, vehicles, and goods to enter and exit Lao PDR, including goods entering-exiting Lao PDR by the postage system.
Declaration of Cash, Precious Metals and Financial Instruments
Article 3 Declaration of Passengers Enter-Exit Lao PDR
Passengers who bring cash, precious metals or financial instruments of value equivalent to more than 100,000,000 Kip (one hundred million Kip) when entering-exiting Lao PDR shall make a declaration to the customs officers at the border check points in accordance with the forms issued by the Customs Department, Ministry of Finance).
Article 4 Declaration Procedure
Passengers who bring cash, precious metals or financial instruments of value equivalent to more than 100,000,000 Kip (one hundred million Kip) when entering-exiting Lao PDR shall follow the procedure outlined below:
1.Make a Declaration when entering Lao PDR by
- Completing the declaration form.
- Submitting the completed form and showing cash, precious metals or financial instruments to the customs officers at the border check point for inspection.
2.Make a Declaration when exiting Lao PDR by
- Completing the declaration form.
- Submitting the completed form and showing cash, precious metals or financial instruments to the customs officers at the border check point for inspection.
- Showing the customs officer at the border control check point an approval letter for bringing cash, precious metals or financial instruments from relevant authority.
- Showing the customs officer at the border control check point the letter of confirmation for bringing cash, precious metals or financial instruments.
Article 5 Inspection of Customs Officers
Customs officers at the border check points upon receiving the declaration about cash, precious metals or financial instruments from passengers who enter-exit Lao PDR, shall inspect, count and verify a declaration document of cash, precious metals or financial instruments to be correct and according to the passengers’ declaration document.
Article 6 Reporting by Customs Officers at Border Check Points
Where customs officers at border check points receive the declaration form from passengers who are entering-exiting Lao PDR detect or encounter passengers bringing cash, precious metals or financial instruments of value equivalent to more than 100,000,000 Kip (one hundred million Kip), the customs officers shall report to the Anti Money Laundering Intelligence Office (AMLIO) such information within 15 working days using forms issued by AMLIO .
Article 7 Keeping Cash, Precious Metals and Financial Instruments
In cases where customs officers at borders have seized or confiscated cash, valuables or financial instruments that have no approval documents, the customs officers shall deposit those valuables with the National Treasury for investigation.
Awards and Sanctions
Article 8 Awards for Good Performance
The Anti-Money Laundering Intelligence Office is responsible for recording the outstanding performance of individuals, legal persons, and organizations in implementing inspection of bringing cash, precious metals or financial instruments by issuing compliments, awards or other appropriate rewards according to regulations.
Article 9 Sanctions for Violation
In cases where customs officers detect, encounter or obtain inaccurate declarations of information, avoid declaration, customs officers shall enforce the relevant laws and regulations.
Final Provision
The Anti-Money Laundering Intelligence Office shall coordinate with the Customs Department, Ministry of Finance and relevant line ministries in order to effectively implement this Instruction.
This Instruction is effective from the date of signature and 15 days from the date of publication in Official Gazette.
President of National Coordination Committee
For Anti Money Laundering and
Countering of Financing ofTerrorism
Dr. Bounpone BOUDTANAVONG
Download English:Instruction On the Declaration of Cash, Precious Metals and Financial Instruments when Entering-Exiting Lao PDR No. 06/NCC, dated 19 May 2015
Download Lao:Instruction On the Declaration of Cash, Precious Metals and Financial Instruments when Entering-Exiting Lao PDR No. 06/NCC, dated 19 May 2015
List Measures Related to Legal Documents
| Name | Description | Status |
|---|---|---|
| Declaration of Cash, Precious metals and Bearers Negotiable Instruments during entry - exit Lao PDR. | Persons entering or exiting the Lao PDR holding cash or precious metals having value more than LAK 100 million must declare these to the custom officials at the customs border checkpoints | Active |