Just a few months after Argentina decided to introduce a wealth tax on large fortunes to assist the government during the pandemic, northern neighbors Bolivia opted to follow in their footsteps. On December 28, Bolivian President Luis Arce enacted a law through which the state can tax people whose wealth exceeds BOB 30 million bolivianos (USD 4.33 million), and the measure has been met with praise from the population.
The measures apply to every Bolivian resident, including foreigners with money invested in Bolivian businesses. The government estimates that 152 of the country’s richest people will be affected by the new...
