Bolivia Tax Tables 2024 - Tax Rates and Thresholds in Bolivia

This page contains the tax table information used for the calculation of tax and payroll deductions in Bolivia in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ BO, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Bolivia or would like to add to or suggest amendments to the information herein then please contact us.

Bolivia Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Bolivia are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Bolivia Tax Calculator 2024.

Bolivia Social Security and Payroll Deduction Rates in 2024

In Bolivia, the social security system includes various components that provide financial protection and benefits to employees in different scenarios. Both employers and employees contribute to this system, ensuring comprehensive coverage for various needs.

Employer Contributions

Employers in Bolivia contribute to several social security funds, which include:

• Housing: A percentage of an employee's salary is allocated to support housing initiatives.
• Professional Risk Premium: This contribution is directed towards covering risks associated with occupational hazards.
• National Healthcare: A part of the contribution goes towards funding the national healthcare system.
• Employer Solidarity Contribution: This is an additional contribution made by employers to support the broader social security system.

Employee Contributions

Employees also contribute a portion of their earnings to the social security system, which includes:

• Long-term Social Security Contribution (Disability, Old Age, and Death): This fund is used for providing benefits in cases of disability, old age, and death.
• Common Risk: A part of the contribution is dedicated to covering common risks faced by employees.
• Pensionary Fund Commission: This contribution goes towards the management and operation of the pension fund.
• Solidarity Contribution for Pension: This is aimed at supporting the pension system, particularly for the underprivileged sections.

Specific Benefits Under the Social Security System

The social security system in Bolivia encompasses various benefits:

• Old-Age Pension: Provides financial support to individuals upon reaching old age, with adjustments based on available funds and the consumer price index.
• Disability Pension: Offers financial assistance to those who are unable to work due to disability, with the pension amount based on the average earnings and the degree of disability.
• Survivor Pension: This benefit is allocated to the family members of a deceased employee, including a spouse or children, and is calculated based on the deceased's earnings.
• Funeral Grant: A lump sum is provided to cover funeral expenses.

These contributions and benefits play a vital role in providing a safety net for employees and their families in Bolivia, ensuring financial support during times of need such as old age, disability, or death of a family member. For businesses and individuals looking to understand the nuances of this system or seeking specific information about current regulations, exploring the latest tax tools and tax tables can be beneficial. These resources offer insights into the broader framework of social security and payroll deductions in Bolivia.

Bolivia VAT Rates in 2024

VAT rates for Bolivia are reviewed annually, you can use the VAT Calculator to calculate VAT due in Bolivia or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Bolivia

The following tax tables are supported by iCalculator™ BO as part of the suite of free tax tools we provide for Bolivia.