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Amendments to Bolivia's Late Tax Payment Penalties Adopted — Orbitax Tax News & Alerts

On 1 July 2016, Bolivia published Law No. 812 of 30 June 2016 in the Official Gazette. The law is the final version of bill PL-153-16 ({News-2016-06-21/P/3- previous coverage}) as approved by the Chamber of Senators (upper house of the legislative assembly) and amends the country's rules concerning late tax payment penalties. The final law provides for fixed interest penalty rates as follows:

  • 4% per annum for the first 4 years of arrears (beginning the day after the payment is due);
  • 6% per annum from the first day of the 5th year until the last day of 7th year; and
  • 10% per annum beginning the first day of the 8th year until paid.

The final law also changes the standard statute of limitations to eight years, which may be extended by two years if the taxpayer is not registered with tax authority, has committed tax crimes, has transactions with tax havens, and certain other cases.