Bolivia Extends Financial Transactions Tax

On 1 July 2015, Bolivia enacted Law no. 176/2015-2016, which extends the financial transactions tax through 2018 and includes a year-on-year increase in the rate. The tax applies to foreign currency transactions and domestic currency transactions if pegged to a foreign currency (boliviano currently not pegged to any currency). Affected transactions include credits and debits in current and savings accounts, payments or transfers of funds, transfers or remittances to or from Bolivia, etc. The …