The wealth tax will tax goods and capital abroad

The tax on large fortunes currently being debated in the Legislative Assembly will also attempt to tax Bolivian goods and capital outside the country. Paragraph A of the third article of the bill indicates that natural persons residing in the Plurinational State of Bolivia with fortunes located in the national territory and abroad are liable to this tax. It implies that persons with a patrimony greater than Bs 30,000,000 ($4.3 mn) must declare their assets, deposits and securities abroad and if they don’t, they risk a fine amounting to 200% of the amount evaded.

Source: El Deber