Accounting in Bolivia: standards, taxes and GoSoft
Accounting guide for Bolivia: National Tax Service (SIN), IVA 13 %, accounting framework, books, e-invoicing, tax returns and how to set up GoSoft.
Key facts
| Item | Detail |
|---|---|
| Tax authority | National Tax Service (SIN) |
| Currency | BOB · boliviano |
| Tax ID | NIT |
| Consumption tax | IVA · 13 % |
| Income tax | Corporate profit tax (IUE): 25 %. |
| Fiscal year | Depends on the activity: December 31 (trade, services, banks), March 31 (industry and oil), June 30 (agriculture) and September 30 (mining). |
| E-invoicing | Online or electronic invoicing through SIAT (Integrated Tax Administration System). |
Accounting framework
Accounting standards of CTNAC (National Technical Council of Auditing and Accounting) and, where not covered, IFRS.
Chart of accounts
There is no mandatory chart of accounts: the company defines it according to its framework. GoSoft ships a base chart you can adapt.
Financial statements
In Bolivia the four statements are presented with these names (GoSoft uses them in its reports and PDFs):
- Balance sheet
- Income statement
- Statement of changes in equity
- Statement of cash flows
Mandatory books and records
Purchases and Sales Register (RCV) in SIAT, accounting books and financial statements filed with the IUE return.
Periodic tax returns
Monthly VAT (Form 200), monthly IT (Form 400), withholdings and the annual IUE (Form 500).
What you need to know
- The 13 % VAT is included in the price: the input credit is 13 % of the invoice total.
- The Transactions Tax (IT) charges 3 % of gross income; IUE paid offsets IT.
- Buying without an invoice requires withholding: goods 8 % (IUE 5 % + IT 3 %), services 15.5 % (IUE 12.5 % + IT 3 %), rent 16 % (RC-IVA 13 % + IT 3 %).
Taxes and withholdings in GoSoft
These are the reference taxes and withholdings GoSoft loads for Bolivia. You adjust them in Taxes and withholdings (rate, minimum base and ledger account).
| Code | Name | Type | Applies to | Rate |
|---|---|---|---|---|
IVA13 | VAT 13% | VAT | sales and purchases | 13 % |
IT3 | Transaction tax 3% | Other | sales and purchases | 3 % |
RET-BIENES | Withholding on goods bought without invoice (IUE 5% + IT 3%) | Income | payments to suppliers (withholding) | 8 % |
RET-SERV | Withholding on services without invoice (IUE 12.5% + IT 3%) | Income | payments to suppliers (withholding) | 15.5 % |
RET-ALQ | Withholding on rent without invoice (RC-IVA 13% + IT 3%) | VAT | payments to suppliers (withholding) | 16 % |
How to set up GoSoft for Bolivia
In My company, choose the country Bolivia and the currency BOB.
When you log in again, GoSoft shows Updating the accounting setup for Bolivia: it codes the chart of accounts, loads the country's taxes and checks the settings. It happens only once.
In Chart of accounts → Options, review the coding and download the chart as a PDF for your accountant to approve.
In Financial reports → Taxes and withholdings, confirm the rates and choose the ledger account for each tax.
Record activity (manually or from the modules) and use Tax returns to prepare each period's drafts.
Rates and deadlines change. Before filing, confirm what is current at National Tax Service (SIN) and with your accountant.