Bolivian Chamber of Deputies Passes Tax on Large Fortunes

The House also passed another bill, calling for the return of 5% of all VAT tax on purchases billed to people with monthly income below 9,000 Bolivianos (about US$1,293 dollars). Both laws were welcomed by President Luis Arce.

RIO DE JANEIRO, BRAZIL - The Bolivian Chamber of Deputies, controlled by the ruling center-left party, on Thursday, December 10th, passed a law to collect an annual and permanent tax on individual fortunes over US$4.3 million. The bill was referred to the Senate for ratification.

The House also passed another bill, calling for the return of 5% of value-added tax (IVAo) on all purchases billed to people with monthly income below 9,000 Bolivianos (about US$1,300 dollars). Both laws were welcomed by President Luis Arce.

"We congratulate the Chamber of Deputies for passing two important . . .

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