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13.5. Other Anti-Avoidance Rules

Low or No Tax Jurisdictions/ Tax Havens

On 15 February 2019, Bolivia published an updated list of non-cooperative jurisdictions that are considered as low tax or no taxation jurisdictions (tax havens). For taxpayers with tax years ending on 31 March 2019 or 30 June 2019, the prior list (i.e., all entities listed below except Curacao) applies.

The list of low or no tax jurisdictions (tax havens) includes 83 jurisdictions as given below:

Alderney American Samoa Andorra
Angola Anguilla Antigua and Barbuda
Aruba Ascension Island Bahamas
Bahrain Barbados Belize
Bermuda Bonaire, Saba and Sint Eustatius (BES Islands) British Virgin Islands
Brunei Darussalam Campione D’ Italia Cape Verde
Cayman Islands Christmas Islands Cook Islands
Curacao Cyprus Djibouti
Dominica Falkland Islands French Polynesia
Gibraltar Great Sark Granada
Guam Guernsey Guyana
Hong Kong Isle of Man Jersey
Jordan Kiribati Kuwait
Labuan Lebanon Liberia
Liechtenstein Little Sark Macao
Maldives Malta Mauritius
Monaco Montserrat Norfolk Island
Niue Panama Pitcairn Islands
Puerto Rico Queshm Islands Marshall Islands
Palau Nauru Saint Lucia
Samoa Saint Vincent and the Grenadines Santa Elena
San Cristóbal y Nieves (Saint Kitts and Nevis) San Marino San Pedro and Miguelón Islands
Seychelles Sri Lanka Solomon Islands
Sultanate of Oman Svalbard Archipelago Eswatini (Swaziland)
Territory of Cocos (Keeling) Tokelau Tonga
Trinidad and Tobago Tristán de Cunha Turks and Caicos Islands
Tuvalu United Arab Emirates U.S. Virgin Islands
Vanuatu Yemen   

Resident taxpayers carrying out transactions with entities located in the above jurisdictions are subject to transfer pricing obligations irrespective of whether the entities are related or not. Further, the statute of limitation is extended by 2 years for transactions with entities located in the above jurisdictions.