Weekly Report - 08 April 2021 (WR-21-14)

BOLIVIA | ‘Great fortunes’ wealth tax exceeds expectations. Bolivia’s President Luis Arce announced on 1 April that the country’s new wealth tax (IGF) had “exceeded our expectations” by adding B$159.3m (US$23.1m) to the treasury since its introduction in December 2020. The levy, known as the ‘great fortunes tax’ is applied to those with assets in excess of B$30m. Arce tweeted that 182 Bolivians had been found to have fortunes of this size, which he said corresponded to 0.001% of the population. Adding that he was “reactivating” the tax redistribution policy of the government led by Evo Morales (2006-2019), Arce explained that “with this measure, the richest will contribute towards improving the quality of life of those most in need”.

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