Individual - Deductions

Last reviewed - 17 January 2024

Employment expenses

An individual can deduct social security taxes paid (i.e. labour contributions to pension funds). No other expenses are deductible to determine taxable base for RC-IVA; however, employees can offset RC-IVA liability against input VAT arising from personal consumptions of goods/services carried out within Bolivian territory supported with valid fiscal invoices.

Personal expenses

Individuals are not allowed to deduct any personal expenses.

Standard deduction

Individuals are entitled to a deduction of four minimum national salaries per month (i.e. approximately USD 1,437).

Business deductions

No business expenses may be deducted from gross income subject to RC-IVA.