Bolivia Publishes Law Increasing Additional Tax on Financial Sector to 25%

On 30 March 2017, Bolivia published Law 921 of 29 March 2017 in the Official Gazette edition 951NEC. The Law increases the rate of additional tax that applies for financial institutions regulated by the Supervisory Authority of the Financial System (ASFI) when the return on equity index is higher than 6%. The rate is increased from 22% to 25% effective from 2017.