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Bolivia consolidates VAT into other business taxes

  • Aug 7, 2020 | Richard Asquith

The Bolivian government is to introduce a consolidated tax regime for small businesses to support them during the COVID-19 epidemic. The annual threshold to qualify for the simplification is BOB 250,000 per annum. Follow Avalara’s live global coronavirus Covid-19 VAT measures tracker.

Value Added Tax is to be consolidated with income tax and transaction tax into a new 5% Montributo tax. It will be effectively a type of cash-based VAT and other business tax regime. This will be levied on gross turnover, and is payable every two months. Businesses that incur input VAT will only be able to recover it in the future if and when they switch back to accruals-based VAT.

The system will be subject to Bolivia’s e-invoicing regime.

Explore more content like this in our Building for COVID-19 recovery hub

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara
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