On 15 October 2026, during a ceremony in Santa Cruz de la Sierra, the National Tax Service (SIN) formally reaffirmed Bolivia’s commitment to strengthening its tax administration’s role in combating money laundering and illicit financial flows in line with Financial Action Task Force (FATF) Recommendations and the Global Forum on Transparency and Exchange of Information for Tax Purposes. The SIN presented its updated “Strategic Plan for AML/CFT Integration 2026-2029,” which mandates enhanced due diligence procedures for high-risk taxpayers, automated cross-referencing of beneficial ownership data with the Commercial Registry (Fundempresa) and the Financial Investigations Unit (UIF), and the implementation of the Common Reporting Standard (CRS) for automatic exchange of financial account information with 112 partner jurisdictions by September 2027. The plan also introduces a risk-based scoring model for taxpayer classification, integrating customs data, real estate registries, and suspicious transaction reports (STRs) filed by financial institutions. Bolivia’s peer review by the Global Forum in 2025 rated the country “Largely Compliant” on Exchange of Information on Request (EOIR) but identified gaps in beneficial ownership availability that this plan addresses.
Key Takeaways
- CRS Implementation Timeline: Bolivia commits to first automatic information exchange under CRS by September 2027, requiring financial institutions to report non-resident account data to SIN for onward transmission to treaty partners.
- Beneficial Ownership Registry Integration: Real-time API connectivity between SIN, Fundempresa, and UIF will enable instant verification of ultimate beneficial owners (UBOs) for legal entities, addressing FATF Recommendation 24 deficiencies.
- Risk-Based Taxpayer Scoring: The new algorithmic model combines 42 variables across tax, customs, and financial datasets to prioritize audits and detect shell companies, with pilot results showing 38% improvement in high-risk case detection.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement