VICTOR PAZ ESTENSSORO

CONSTITUTIONAL PRESIDENT OF THE REPUBLIC

As soon as the Honorable National Congress has sanctioned the following Law:

THE NATIONAL CONGRESS,

D E C R E T A:

Article 1.- Late taxes, from the date the obligation was due to the payment of the payment,

shall bear the commercial banking interest in force on the day of its cancellation.

Article 2.- Any fact that motivates a lower tax collection is either by errors or other causes

attributable to the taxpayer and determined ex officio or by complaint of individuals, will be punishable by a fine of 25% of the unpaid taxes. This fine is independent of the interests outlined in article 1 of this Law.

Article 3.- The fines applied in accordance with the previous article, when they are the result of the audit work of the

Income, shall constitute an ordinary income of the Nation. In case of complaint by individuals, the fines will fully benefit the complainants.

Article 4.- The taxpayers who pay the first advance payment of the income tax coming in

They will show with balance sheets that they have not obtained taxable income in the exercise of review, as well as those, who pay taxes unduly, for excess or by mistake, will obtain their reimbursement by Credit Notes granted by the District Managers of the Income, in view of liquidation and of the relevant payment vouchers. These Credit Notes will be endorsed by the National Income Manager, the Comptroller of the Comptroller and the Chief Revenue Officer, without whose requirement they will be worthless.

The Credit Notes granted with the provided in this article, are legal documents with

compensatory force of tax obligations of the taxpayer itself, or of third parties and may be endorsed.

Article 5.- Those acting as Agents of Retention of direct or indirect taxes, in case of non-deposit

in the offices of the Rent the amount of their collections in the deadlines determined by law, commit crime of abuse of trust of public funds and, therefore, are made passive of penal sanction.