The business union affirms that, by reaching a small number of people, the Tax on Large Fortunes will not have the desired impact for the reactivation of the economy.

Gustavo Jáuregui, General Manager of the National Chamber of Commerce.

BY YURI FLORES

LA RAZON – LA PAZ / December 30, 2020

The general manager of the National Chamber of Commerce (CNC), Gustavo Jáuregui, made it known that the enactment of the Tax Law on Large Fortunes (IGF) discourages formal investments in the country.

“What I would be doing in some way is really discouraging formal investment in this country, we believe that the necessary conditions have to be created in this country, where wealth is generated and, when we have excessive wealth in this country, this can be achieved. type of measures, “said Jáuregui in contact with the press.

The executive explained that the rule only reaches a minimum number of people in the country, who were already taxed and are in the formal sector, so the measure would only generate a negative impact on national and foreign private investments.

President Luis Arce Catacora promulgated on Monday, together with the Law of the General State Budget (PGE) 2021 and the Law of Cash Reimbursement of the Value Added Tax (Re-VAT), the Law of Tax on Large Fortunes , a rule that has an annual character for fortunes greater than Bs 30 million.

Yesterday, the Deputy Minister of Tax Policy, Jhonny Morales, reiterated that in the country there are only about 150 people who have that amount of money.

The manager of the CNC assured that the measure enacted on Monday is likely to generate a drop in private investment for next year, which would be detrimental to the national economy.

In this sense, he pointed out that, when reaching a small number of people, the Tax on Large Fortunes will not have the desired impact for the reactivation of the economy. (12/30/2020)

SOURCE: www.la-razon.com