Bolivia's president promotes project to eliminate gaming tax
In an attempt to reactivate the economy and improve the investment climate, the president of Bolivia, Rodrigo Paz, announced that he will send to Parliament a bill to eliminate several taxes, including the gambling tax.
The proposal also includes the elimination of the financial transactions tax and the tax on business promotions. According to the Executive, these levies represent less than 1 percent of national revenue, do not justify the associated administrative costs, and generate distrust among investors.
The announcement was made during a meeting with workers of the National Electricity Company (ENDE) in Cochabamba, where Paz reiterated his intention to simplify the tax system. Additionally, he defended the recent elimination of the wealth tax, established during the previous government of Luis Arce.
The elimination of the four taxes, the financial transactions tax (ITF), the wealth tax, the gambling tax, and the tax on business promotions, is part of a package of measures aimed at stabilizing the economy and recovering capital. The president noted that policies applied in previous administrations caused the outflow of about US$7 billion in the last six or seven years.
The Minister of Economy, José Gabriel Espinoza, reinforced this diagnosis, assuring that these taxes discouraged international investment and accelerated capital flight. At the same time, the Government announced that it is working on an adjustment of the General State Budget for 2026, with the goal of reducing public spending by at least 30 percent.
Paz emphasized that the return of these resources to the country is a priority, as their reinvestment would help stimulate employment and economic activity. He also considered the level of foreign direct investment recorded in 2025, which reached US$247 million, insufficient.
According to the Government, the elimination of the four taxes and the 30 percent cut in public spending represent the first step of a set of reforms that will be implemented gradually until March.
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