What are the Accounting & Taxation Requirements in Bolivia?

Bolivia closed 2018 with one of the highest economic growth rates in Latin America, staking its claim as a stable and attractive investment location. One great way to take advantage of all that Bolivia has to offer is through the formation of a local company. However, before entering the market place, it is of vital importance to have a deep understanding of the corporate accounting and taxation requirements.

According to the current regulations, tax authorities have up to eight years to review and recalculate taxes determined by taxpayers, and this period could be extended two years more if taxpayers do not register in the appropriate regime or if taxpayers have performed commercial and/or financial transactions with a person (corporate or individual) resident in a country/region considered a low or nil taxation jurisdiction. This period must be computed as of the first day of the following year in which the tax payment due date has occurred

The taxable year is the fiscal year. The fiscal year varies according to the activity of the corporation. Banks and commercial and other service activities have a fiscal year-end as of 31 December; industrial, oil, and gas companies as of 31 March; agribusiness and forestry companies as of 30 June; and mining companies as of 30 September.

Check out the presentation below and ensure you understand your accounting and taxation requirements when operations in Bolivia. For more information about our accounting and taxation services in Bolivia, please get in contact with our local team.

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