The National Tax Service (SIN) collected up to April 30 Bs 235 million for the Tax on Great Fortunes (IGF) and registered 204 individuals residing in the country and living abroad with a net worth of more than 30 million Bolivianos ($ 4.3 mn) in this new tax category.
Category: Public policy
Information related to political affairs that have an impact on Bolivia’s economic development.
The Government expects to invest more than $3.7 mn to reactivate the agricultural sector
The Government plans to invest more than 26 million bolivianos ($3.7 million) this year to execute a total of 61 projects benefiting some 1,533 rural producer families.
Supreme decree of 2% increase in the minimum wage is in force
Supreme Decree 4501, which establishes a 2% increase in the National Minimum Wage, became fully effective. The document states that the increase is retroactive to January 1 and must be paid by May 31. The amount determined for the National Minimum Wage, in the public and private sectors, is Bs2,164 ($ 310.5). Source: Los Tiempos
Users will pay a 13% increase on digital services
The draft bill to extend the scope of the Value Added Tax (VAT) to foreign companies providing digital services in Bolivia will represent a 13 per cent increase in the price of services such as Netflix, Google, Amazon, Facebook and YouTube, among others, to be borne by the end consumer.
Rolando Kempff reelected as president of the National Chamber of Commerce
Rolando Kempff Bacigalupo was re-elected president of the National Chamber of Commerce (CNC). Mario Paredes Vargas will accompany him as first vice-president, Lukas Abendroth Spies as second vice-president, Pablo Torquato Salazar as treasurer and Douglas Ascarrunz Aramayo as pro-treasurer.
Government proposes a 0.67% increase for the National Minimum Wage 2021
The Government proposes a salary increase of only 0.67% for the National Minimum Wage for 2021, arguing that the objective is to restore the purchasing power of the working class that receives the national minimum wage and guarantee labour stability.
Government targets 94.6% coverage in the electricity sector
The government's priority is to reach 94.6% national coverage in the electricity sector this year, mainly with projects in rural areas. The National Electrification Company (ENDE) has a budget of Bs 4,63 billion ($664.56 mn) to undertake investments.
Rescheduled loans increase by 64%
As part of the grace period, the rescheduled outstanding portfolio of financial institutions increased to $1.37 billion, which implies a 64% growth between February 2020 and February 2021.
Bill proposes that the basis for the return of AFP contributions by 15%
There is still no definition, but the basis for the return of contributions to the Pension Fund Administrators (AFP) would be 15%, informed the president of the Chamber of Deputies.
Government reduces to $20,000 the entry and exit of foreign currencies
The Government issued Supreme Decree No. 4492, which establishes new limits for the entry and exit of foreign currency into and out of the national territory, as a preventive measure against the laundering of illicit gains, modifying Decree 29681 of 2008. Thus, it reduced from $50,000 to $20,000 the entry and exit of foreign currency.
