Transfer Prices in Bolivia, regulations and formal obligations demanded by the SIN


Since September 2015, as part of the new régime of Transfer Prices in Bolivia, the taxpayers (passive subjects) who perform operations with connected or related companies are obliged to agree and support these operations in accordance with the economic reality and as if they had been performed between independent parties(market values) in front of the national Tax Authority.
Legal Basis
Law 516 Investment Promotion Law 549 o Law on 21 July 2014, Supreme Decree 2227 on 31 December 2014 and Broad Normative Resolution No. 10-0008-15 on 30 April 2015 (Transfer Prices in Operations between Connected Parties).

Compulsory Taxpayers
a) Passive subjects whose annual operations with connected parties are the same or higher than Bs15, 000,000 will have to present an Electronic Form 601 (Informative Sworn Statement of Operations with Connected Parties) as well as the Study of Transfer Prices (EPT).
b) Passive subjects whose annual operations with connected parties are the same or higher than Bs7, 500,000 and lower than Bs15, 000,000, will have to present the form 601.
c) Passive subjects whose annual operations with connected parties are lower than Bs7, 500,000, are obliged to keep the necessary documentation to show that their operations with connected parties were executed at market price.

Information to declare
Some relevant aspects that will have to be mentioned are:
. Type of operation performed.
. Type of relationship with the foreign entity.
. Method of transfer Prices applied to each performed operation.
. Price or profitability margin associated to the performed operation.
. Financial results for the type of operation and at the taxpayers’ global activity level.

Date of presentation The Electronic Form 601 and EPT will be presented in accordance with the following dates:

a) Commercial companies, banks, insurances, services and others: up to 29 April 2016.
b) Industrial and petrol companies: up to 29 July 2016.
c) Rubber, nuts, agricultural, cattle and agricultural-industrial companies: up to 28 October2016.
d) Mining companies: up to 28 January 2017.

Infractions and Penalties
The consequences for not fulfilling with the EPT are normally very costly. In Bolivia, the penalties for not presenting the EPT or the form 601, or presenting them out of date, with mistakes or incomplete information, will be penalized with fines that go from 50% to 100% of the highest penalty established in the Art. 162 of the Law N°2492 of the Tax Code. It is important to mention that the payment of the fine does not exempt from the obligation of sending and presenting the information requested.
In addition, not fulfilling with this obligation, invites the Tax Authority to set up fiscal adjustments in the operations performed between the related parties more easily.

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