Bolivia's President-Elect Planning VAT Relief and Wealth Tax

Bolivia's president-elect, Luis Arce, is planning to introduce several tax measures once he takes office. This includes:

• A reduction in the VAT rate on credit card payments from 13% to 8%;
• The introduction of a VAT refund for low-income individuals; and
• The introduction of a progressive wealth tax on personal assets exceeding USD 5 million (final threshold and rates to be determined).

Luis Arce won the election on 18 October 2020 and will take office in November.