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Bolivia Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
2,102,126 (July 2018 est.)
GDP (PPP)
$71.2 billion (2017 est.)

GDP growth rate
5.0% (2017 est.)

High. One of the fastest growing EU economies in the last 20 years (despite having suffered a recession in the 2009, 2012 and 2013)

GDP (PPP) per capita
$34,500 (2017 est.)

Medium to high. One of the highest in Central Europe

Local currency
Euro (EUR)

The second most importat currency in the world after the USD

Financial stability (Public debt)
73.6% (2017 est.)

Medium. It increased sharply from 2008 to 2015

Inflation
1.4% (2017 est.)

Still low but recovering from deflation

Language
Slovenian (official)

English is spoken as a second language in the main urban or touristic areas

Corruption perception index (Source: Transparency International)
Rank 36/180

Medium level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
22% standard VAT rate
Reduced rates: 9.5% (foodstuffs, seeds, medicines, medical equipment, transport of passengers, books, royalties for writers and performers, hotel accommodation, shoes and clothing, and some others), 0% (financial and insurance/reinsurance services, rent and lease of immovable goods, trade of land, health and social services, and some others)
Corporate Tax
19% standard rate
A company may request to be subject to tonnage tax instead of CIT if it meets certain conditions (i.e. it operates in maritime transport in international shipping).
Duties

EU custums duties apply to the import of goods from outside the EU

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