The Bolivian Tax Office (SIN in its Spanish acronym) has closed the 2012 period with a total tax collection of 37,459.5 million bolivianos (5,421.34 million US dollars), a total which represents an increase of 24% with respect to what was collected in 2011 when 30,201.2 million bolivianos were collected, said Robert Ugarte the President of the Tax Office on Sunday.

The President, commenting in their institutional bulletin, highlighted that the 2012 total marks a new milestone for Tax Administration, as a positive move has been achieved both in institutional areas and operational tasks, something which augurs a greater efficiency for the following periods.

He explained that the good performance of the national economy, the growth in number of contributors, efficiency in tax administration, the application of technological tools and the generation of tax awareness has led to reaching the total amount gathered in the last period.

He explained that Corporation Tax and Sales Tax constitute the pillars on which this achievement is based.

All of this is very significant for the government of the Plurinational State of Bolivia, led by the Aymara, Evo Morales, which is projecting a growth in its economy greater than all the other countries of the region in 2013.

Ugarte explained that Corporation and Sales Tax constituted 44% of the total gathered, registering increases with respect to 2011 of 23% and 28% respectively.

Likewise, the mining and oil utilities together with payments of sales tax by the most dynamic sectors such as retail, transport & communications and industry contributed decisively to the positive result registered in 2012.

translation: Tony Robinson