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Bolivia Devolves Tax Powers

by Mike Godfrey, Tax-News.com, Washington

28 June 2011


Bolivia's tax system is set for a minor overhaul, with new legislation providing for the reorganization of how taxes are administered at various levels.

Minister of Economy and Public Finance, Luis Arce Catacora has clarified how the new legislation will impact on the country's tax system. He stressed that the Bill in itself does not create new taxes. Rather, it "classifies" existing taxes.

Such "classification" will determine which taxes are valid at a nation-wide level, which will be administered by government departments, and which will be controlled by the municipalities.

This, Catacora said, will provide the departments and municipalities with the power to eliminate or modify those taxes they have control of.

TAGS: tax | law | legislation | Bolivia | tax reform | regulation

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