On 10 April 2024, Bolivia announced Supreme Decree No. 5145, which introduces a new modality of export tax refund. The Decree aims to streamline the process of submitting tax refund requests.

The key aspects of the Decree are:

• The deadline for issuing export and import refund certificates is set at 15 calendar days on the condition that the exporter, at the time of submitting their tax refund application, proves that 100% of the foreign currency amount is equivalent to the export value that has been deposited into their account at a financial institution regulated by the financial regulatory authority (ASFI). Additionally, the exporter is obliged to submit a surety insurance policy covering the total amount of value added tax (VAT) and consumption tax (ICE). The surety insurance policy should be valid for 365 calendar days and include the option to extend or renew at the request of the national tax service (SIN).
• In circumstances where the exporter fails to reimburse the difference between the export value and import refund certificate value and the supported tax credit amount within three days of receiving the Administrative Resolution notification, the guarantee on first demand will go into effect. If this isn’t available, the surety insurance policy will be invoked on the first demand for the refunded amount.
• In the case that the exporter has outstanding tax debts with the Treasury, the export and import refund certificate will be issued and retained for an amount equivalent to the debt owed as per the inspection by the SIN. If any enforceable tax debits are identified after issuing the export and import refund certificate, the tax administration will deploy the prior verification method.
• The payment term has been shortened from 30 to 60 monthly installments.