Additional Taxes. Be Created. - L. No. 272 Of 16 Ocbre 1950. - On Profits Of Trade And Industry, Mineral Waters, Alcohols, Liquors, Cigarettes, Sealed Paper, Addressing The Serv
Original Language Title: IMPUESTOS ADICIONALES. SE CREAN.— L. Nº 272 DE 16 OCBRE 1950.— SOBRE UTILIDADES DEL COMERCIO E INDUSTRIA, AGUAS MINERALES, ALCOHOLES, LICORES, CIGARRILLOS, PAPEL SELLADO, ETC., PARA ATENDER EL SERV
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LAW NÂ ° 272 MAMERTO URRIOLAGOITIA H. President constitutional DE LA Repašblica as: the Honorable National Congress has sanctioned the following law: the National Congress DECREES: Arta-culo 1a ° â €"author-used executive power to convert external obligations in American dollars, and which were issued bonds, new obligations subject to the conditions laid down in this law or other more favorable."
The conversion refers to the following outstanding care stitos © Empra: released beat Inter R. of Bolivia (Chandler) 1917 1940 6% r. de Bolivia (American) 1922 1947 8% r. de Bolivia (Dillon, Read) 1927 1958 7% r. de Bolivia (Lillon, Read) 1928 1969 7% Arta-culo 2a ° â €"bondholders of detailed obligations, may n join this conversion until the 31 December 1953" and can the Government of Bolivia extend that period.
Arta-culo 3a ° â €"obligations on behalf of the bondholders with the conversion, will have n the same value of capital that the converted obligations, will be dated 1st January 1951 ° n and is Sujetara n, in addition s to the following conditions: during the years 1951 to 1956, inclusive, is paid to bond with the conversion the following interest!!!!" : 1% in 1951 and 1952; 1. / 2% in 1953 and 1954; 2% in 1955 and 1956;
During the time indicated or from 1951 to 1956, inclusive, the Government of Bolivia assigned monthly to payment of interest and repayment obligations, the number of Ma-nima of one million five hundred thousand dollars.! The Government of Bolivia once served the interest payments of the bonds with the conversion, you have entire freedom to apply the balance of the indicated sum or other additional amounts over, shopping under par or sweepstakes along with bonds in dollars and purchases under the pair of bonds not welcomed to the conversion;
From 1st of January 1957, until the extinction of the obligations under the conversion, the interest and repayment to service is les will pay will be the following: for annual interest and repayment, service is assigned a number fixed, equivalent to 4% of the outstanding capital of obligations under the convertion to December 31, 1956.!! If subsequent to that date, and by extension of the time limit referred to in the Arta-culo 2a of this law, have bonds that embraced the plan of conversion, they will be n added to the total balance to calculate the 4% service.
The interest yearly, starting from the 1st of January 1957, will be 3%.
Is assigned (for annual repayment, starting from 1Â ° of January 1957, the difference resulting between the annual fixed quantity laid down in paragraph 1) (and which corresponds to pay interest in accordance with subsection a).! The repayment Fund is applied to purchase of bonds under the par. or sweepstakes at the same time in case that the quotation is equal to or greater than the rating of the titles He State may use its right of allocate sums additional in any time to make repayments or rescues extraordinary of bonds.!
The BlackBerry service as stipulated in this law of obligations under the conversion, reset it all the rights of the bondholders welcomed the plan as stito. were stipulated in the original contracts of Empra ©
Arta-culo 4Â ° â €"authorizing the Executive Branch to issue new bonds interest arrears and unpaid on December 31, 1950, in the proportion of 10% over the nominal value of each accepted to the conversion bond, to contain the same tÃ © terms, conditions and time periods than bonds for capital to become."
Arta-culo 5Â ° â €"the delivery of the new bonds by recognized interests implies on the part of the holder receiving the renunciation to any other sum unpaid and accrued interest to December 31, 1950."
Arta-culo 6a ° â €"is authorized, in addition, the Executive authority to issue new bonds or reseal the old values by capital which will accept this plan conversions. New bonds issued or the resealing shall be n a term Ma-minimum of maturity of 36 years Computable from the new date of the values that will be the January 1951 °.!!
7a ° â € Arta-culo ' for the exclusive attention of the obligations set forth and recognized by this law, Cra © anse following resources: imposed additional 5% on the 15% surcharge to the profits of trade and industry, when such earnings exceed 10% of the nominal capital and reserves of the trade or industry exercised. "
Tax additional of Bs. 0.10 on the production of bottle of water mineral, soft drinks, sodas or drinks Ana logas of 0.25 litres or fraction in all the Repa ° Republic;!
Additional taxes on the import of spirits and wines, under the rate following: bottled spirits such as whisky, Cognac and other Bs. "first class" 12.a€ "litre bottled liquors"second class", as Rod Paraguayan and other Bs. 6.a€" liter.
Spirits liquors, Fernet, Cre - mas, Vermouth, Ana-s and other Bs. 6.a€ "l."
Wines sparkling wines "first class" co-mo Champagne and others Bs. 15.a€ "l."
Non-sparkling wines such as Santa Rita, Tocornal and other Bs. 5.a€ "l."
Additional tax on the production in all the Republic of alcohols, a-guardientes and liqueurs, as follows: cereals Bs. alcohols 2.a€ "liter."
Rod Bs. alcohols 1.a€ "l."
Spirits of fruit and molasses have-ta 53 degrees Bs. 0.50 litre spirits of fruit and molasses des-of 53 to 60 degrees Bs. 1.a€ "liter."
Spirits spirits Bs. 4.a€ "l."
Sparkling wines Bs. 5€ "l."
Non-sparkling wines Bs. 0.20 litre.
ELA © vase from 50% to 60% on the selling price, the tax on cigars, cigarettes and tobacco referred to in the Arta-culo 1a ° of the law of December 5, 1933;
Surcharge or surtax in the proportion of 30% on all the values established by the law of Papel sellado seal and stamps on April 22, 1941, to which end, the Treasurer - General of the NaciÃ³n to have the resulting overprint of all the valued roles affected to this surcharge, which will enter into force starting from 1Â °. January 1951 by fixing A-index of prices in accordance with the currency unit and its decimal fractions.
Arta-culo 8a ° â €"the amount that the resources set out in the previous Arta-culo raised monthly, is paid every end of the month by the respective fundraising offices, in a special account at the Central Bank, under the rubric of 'Account for the service of external debt'."
Arta-culo 9Â ° â €"service tax obligations stated in this law, and in the form and conditions laid down therein, is be made by the Central Bank of Bolivia, through agent or fiscal agent in New York, which must be recognized, for which American banks conventions that contain n Cla usual clauses to this gender of operations!!" , so that the implementation of the plan of conversion is in all respects normal. This object the "account for the service of external debt" will be directly managed by the Central Bank of Bolivia and reviewed and approved every six months by the Comptroller - General of the RepÃ to.
Taxes and surcharges set by this law will be n charged since the 1st of January 1951.
Arta-culo 10a °. â €"If the resources created under the Arta-culo of this Act 7a, were not enough to cover the sum Ma-nima required to service the obligations under the conversion, the budget of the nation in its layer-chapter"Obligations of the State", item"Dept", placed at the disposal of the Central Bank, the additional amounts which would be necessary to complete those obligations service. If in any year collected amounts shall be higher than actually required for the said service, excess, if not used in extraordinary rescue, is refund to the Treasury in the next year, which it considered as ordinary income.!
Arta-culo 11a ° â €"from the year 1951 and until 1956, inclusive, the annual budget for foreign exchange Consignara an A-tem special for the sum of one million five hundred thousand dollars for the conversion to the official change in Bolivian sums deposited in the"account for the service of external debt"." Since 1957, the sum includes - da in the budget of foreign exchange shall be required according to subparagraph (c)) of the Arta-culo 3a of this law.!
Arta-culo 12a °. â €"in order to make effective the providing of American currency to that referred to in the previous Arta-culo and other foreign obligations not covered by the present disposal rises to category-a of law decree NÂ ° 1008 of date January 7, 1948.
Arta-culo 13a ° â €"provisions contrary to this law are hereby repealed.
Rema-price to the Executive for constitutional purposes.
Session of the H. Congress Hall.
Peace, October 5, 1950.
(Fdo). John Ml. Balcazar.a€ ' (Fdo). " L Lance Solares.a€ ' (Fdo). " C. Lopez, Senator Secretario.a€ ' (Fdo). " P. Saucedo Barbery, Senator Secretario.a€ ' (Fdo). " Julio Crespo, Deputy Secretario.a€ ' (Fdo). " Alberto Brito M., Deputy Secretario.a€ "therefore: enacted it is and meets as a law of the Republic."
Government Palace, in the city of La Paz, to the sixteen days-as of the month of October of one thousand nine hundred and fifty years.
(Fdo). MAMERTO Urriolagoitia.a€ ' (Fdo). " Julio Alvarado.
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