Protest by rural mining indigenous workers, who demand better wages and working conditions. Photo: Karol Moraes/Shutterstock
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 law.
Those worth between BOB 30 and 40 million will be taxed 1.4 percent, while fortunes of BRL 40 to 50 million will be hit with a 1.9 percent rate. A 2.4 percent rate will apply to those with even larger fortunes.
The...
This week, the Central Bank stepped the brakes of monetary easing by opting for a…
Additionally, a whopping 96 percent of Brazilians believe extreme weather events are becoming more intense
Eyeing the 2025 presidential election, José Antonio Kast promises to tackle a public security crisis…
The chances of the Brazilian Football Confederation imposing a blanket suspension, however, are slim —…
A House public hearing on Wednesday showed that the government-sponsored bill proposing new labor protections…
Rescue efforts are ongoing in Rio Grande do Sul, Brazil’s southernmost state, after floods and…