By Marisol Alvarado, Vision 360: Trade measure More than 200 Bolivian products entering the United States will have to pay a 10% tariff According to the Bolivian Institute of Foreign Trade (IBCE), Bolivia exports around 208 products to the United States, including tin, Brazil nuts, quinoa, and other minerals. Bolivian exports. Photo: ABI Starting April…
Tag: foreign exchange tax
What value of goods and currency can be brought in when returning from an international trip? | ¿Qué valor de artículos y divisas se puede internar si uno retorna de un viaje del exterior?
By Marco Antonio Belmonte, Vision 360: The duty-free allowance is $1,000. Travelers may carry between $10,000 and $20,000 in cash (or its equivalent in other currencies), but they must declare it; otherwise, 30% of the money may be withheld. The Regional Manager of Customs in Santa Cruz, José Luis Mollinedo, explains the scope of the…
Banks Limit Operations in Dollars to Electronic Cards | Bancos limitan operaciones en dólares a tarjetas electrónicas
El Diario: Despite announcements by government authorities regarding the provision of dollars, banks have placed limits on transactions in US currency to cards, a situation that prevents citizens from making their electronic payments for contracted services. Protests from users have spread on social media as they are prevented from carrying out their operations. Furthermore, they…
Investment restrictions can cause capital flight | Restricciones a las inversiones pueden causar fuga de capitales
El Diario: The ban on capital outflows was described by economists as a desperate measure, since any ban in the economy entails the creation of a “black market,” which is a bad sign for investors. Likewise, “capital is going to leave the same, the market is going to be distorted and capital flight will be…
The procedural rules/norms under work for the ‘Dollar Law’
Bolivian citizens and specially those living abroad who are sending remittances to their families back home, must take special attention to this new governmental policy. Ismael Luna Acevedo writes for El Dia: Financial institutions must adapt The procedural rules/norms under work for the ‘Dollar Law’ Money. The State with this standard hopes to have an…
Moody’s: Bolivia’s New Foreign Exchange Tax Is Credit Negative for Banks
From WSJ, by Arran Scott SINGAPORE–A move by Bolivia to tax foreign exchange transactions to enforce de-dollarization policies will undercut the credit health of local banks, Moody’s Investors Service said Monday. The Bolivian House of Representatives last Tuesday passed a bill to tax all foreign exchange transactions with a 0.7% levy for 36 months, Moody’s…
Bolivian Thoughts | Pensamientos Bolivianos (Bilingual/Bilingüe) 