On 16 June 2016, the Bolivian Chamber of Deputies (lower house of the legislative assembly) approved bill PL-153-16, which amends the country's rules concerning late tax payment penalties. The main amendment is changing the interest rate for late payments from the rate published by the Central Bank of Bolivia plus 3%, to fixed rates depending on the length of payment delay as follows:
- 4% per annum for the first 4 years of arrears (beginning the day after the payment is due);
- 6% per annum fro…