Government expects to raise almost $145.3mn a year with the application of two taxes

The Government expects to collect almost Bs1 billion ($145.3) from the Wealth Tax and the Value Added Tax Rebate Regime (Re-VAT). With the creation of the Tax on Large Fortunes, the Government expects a potential collection of Bs.105.35 million ($15.3 million) and with the Re-VAT, Bs 807 million ($117.2 million).

Bolívia’s Treasury will allocate $376.4mn to cover payment of Christmas bonus

Bolivia's Treasury will allocate Bs. 2.5 billion ($376.4 million) to pay the Christmas bonus, an obligation that must be fulfilled until the 21st of December. To date, the Treasury disbursed Bs 518.2 million ($75.3 million) for the Contribution Sharing and Compensation System. Bs.952 million ($138.3 million) were also disbursed for entities at the central government level.

Shutdown of urea plant damaged turbine that costs $36mn

The interruption of the urea and ammonia plant's operations for more than a year caused its damage to a turbine, a fundamental part of the factory's operations, worth $36 million. This piece would have been harmed due to the negligence of the personnel in charge, informed the president of the Association of Petroleum Engineers of Bolivia (CIPB), Carlos Zabaleta.

Bolivia received $873.7 mn in remittances until October

Remittances sent to Bolivia reached $873.7 million from January to October this year. Remittances began to stabilise in August, thanks to the partial economic recovery in the sending countries. According to data from the Bolivian Central Bank (BCB), only in October the country received remittances for $111 million, the largest amount recorded since January of this year.