Regulatory Alerts2007-04-11
Decree No. 2007-276 Repealing Decree No. 2006-844 of November 14, 2006, and Fixing Price Display, Lease Contracts, Invoicing, and Payment in Ariary
The Prime Minister of Madagascar issued Decree No. 2007-276 to mandate that price displays, lease contracts, invoicing, and payments for goods and services within the national customs territory be conducted in Ariary. The decree repeals Decree No. 2006-844 and establishes specific exceptions allowing foreign currency transactions for cross-border air and maritime services, free zone enterprises, exporters, and legally mandated cases. Non-compliance triggers penalties under Article 473 of the Penal Code, and the decree takes immediate effect upon sufficient public announcement.
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