Wealth tax returns twice as much revenue as expected in Bolivia

This tax on high net worth individuals is similar to one already enacted in Argentina and which has also been encouraged by UN Secretary-General Antonio Guterres a fortnight ago.

RIO DE JANEIRO, BRAZIL - Bolivian President Luis Arce announced on Tuesday, April 27, his country's tax bureau had collected twice as much as originally estimated through the “wealth tax.”

In his Twitter account, Arce explained that days before the deadline, collection exceeded 224.1 million bolivianos (more than US$32 million) from 203 millionaires, residents in Bolivia or abroad, with assets over 30 million bolivianos (almost US$4.3 million).

Arce underscored the new tax is part of the “dismantling of neoliberalism to resume the Productive Community Social-Economic Model to get out of the crisis,” as the income . . .

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