At the time of the accreditation or debit in the accounts referred to in Article 2 (a) of this Law;

At the time of the payment or transfer referred to in Article 2 (b) of this Law;

At the time of payment for the instruments referred to in Article 2 (c) of this Law;

At the time of the delivery of money or of the payment or transfer referred to in Article 2 (d) of the This Act;

At the time of the transfer or transfer of money referred to in Article 2 (e) of the This Act;

At the time of the delivery or receipt of funds referred to in Article 2 (f) of this Law;

At the time of redemption and payment of the Fixed Term Deposit; as referred to in Article 2 (g) of this Law. This Law, and;

At the time of the redemption of the participation in Investment Funds and/or their yields referred to in Article 2 (h) of this Law.

ARTICLE 4 (TAXABLE PERSONS). liabilities of the Financial Transactions Tax (FTT) natural or legal persons, holders or owners of current accounts and savings banks, whether individually, jointly or severally; those making payments or transfers of funds; those acquiring management checks, travellers ' cheques or other similar financial instruments or to be set up; those which are beneficiaries of collection or payment or order payments or transfers; those which instruct transfers or consignments of money and those operating the payment system, without prejudice to the joint and several liability which it shall have who orders the delivery or receives the funds, for the operations it has carried out with the operator; those who redeem or collect Fixed Term Deposits; those who redeem participation fees and/or their returns on Investment Funds, as referred to in Article 2 of this Law. ARTICLE 5 (TAXABLE BASE). The Taxable Base of the Financial Transactions Tax, is given by the gross amount of the transactions taxed by this Tax.

ARTICLE 6 (ALICUOTA). The Financial Transaction Tax (ITF) tax rate will be 0.15% (ZERO POINT FIFTEEN PERCENT). ARTICLE 7 (SETTLEMENT AND PAYMENT). The entities governed by the Law of Banks and Financial Entities, the Management Companies of Investment Funds and the other entities legally established in the country that provide service Transfer of funds, as well as natural or legal persons operating payment systems, must act as agents for withholding or collecting this Tax in each operation taxed. The amounts withheld or collected must be paid to the accounts of the General Treasury of the Nation. The Central Bank of Bolivia, as it is subject to the provisions of Law No 1670, does not constitute a withholding agent or a perception of the Financial Transactions Tax (FTT), except for the case of public companies that hold accounts in Foreign currency and National Currency with Maintenance of Value in respect of any foreign currency, in the Issuer Entity. ARTICLE 8 (ACCREDITATION). The amounts actually paid by the taxable person in application of the tax created by this Law, are not creditable against any tax.

ARTICLE 9 (EXEMPTIONS). They are exempt from the tax:

The accreditation or debit in bank accounts, corresponding to the Judicial Branch, Legislative Branch, Central Government, Departmental Prefectures, Municipal Governments, and Public Institutions. This exemption does not reach public companies;

On condition of reciprocity, credits and debits in bank accounts corresponding to diplomatic missions, consular and foreign diplomatic personnel accredited in the Republic of Bolivia, according to regulations;

Deposits and withdrawals in savings banks in foreign currency and deposits and withdrawals in savings banks in national currency with value maintenance in respect of any foreign currency, natural persons, with balances less than or equal to $us. 2,000.-(TWO THOUSAND US DOLLARS) or its equivalent;

Direct transfers of the client's accounts to be credited to tax collection tax accounts, contributions and premiums collected by legal provision, short-and long-term social security and housing, debits for account maintenance expense, as well as redemption and payment of Fixed Term Deposits, redemption of Investment Funds participation shares and debits on accounts used by the Pension Fund Administrators (AFP) and entities pre-viewing insurers, for the payment of retirement benefits, invalidity, survival, funeral expenses and benefits derived from the Collective Capitalization Fund;

Accreditation in the collection of contributions and premiums, created by legal provision, short-term and long-term social security and housing, as well as accreditation in accounts payable for retirement benefits, invalidity, survival, funeral expenses and benefits derived from the Fund Collective Capitalization;

The accreditation or debit corresponding to against seats by error or cancellation of previously accredited or debited documents;

The accreditation or debit in the accounts, as well as the redemption and payment of Fixed Term Deposits and/or their interest that the entities governed by the Law of Banks and Financial institutions and the Securities Market Law maintain with each other and with the Central Bank of Bolivia;

The accreditation or debit in the accounts used exclusively by the administrative companies of ATM networks, debit and credit card operators to make compensation on behalf of the entities of the national or foreign financial system, originating in movements of funds made through such networks or operators, as well as transfers that have origin or destination in those accounts;

Autonomous Heritage accounts, with the exception of debits actually collected by the beneficiary or beneficiary; the credits and debits in the accounts of Autonomous Patrimonies administered by the Pension Fund Administrators (AFP);

In reporting operations, credits and debits in the accounts of the Stock Exchange Agents use exclusively for these operations, as well as credit or debit in the investor's counterparty accounts;

In transactions in the sale and payment of economic rights of securities, debits and credits in investment accounts of the stock exchange agents used exclusively for these transactions, the credits and debits in bank accounts used for clearing and settlement made through Securities Deposit Entities, as well as redemption and payment of Fixed-Term Deposits consisting of the name of Investment Funds administered by Investment Fund Management Companies (SAFIS);

The redemption and payment of Fixed Term Deposits and/or their interest, placed within a period greater than 360 (THREE HUNDRED AND SIXTY) days, provided they are not redeemed before maturity;

Remittances from foreign remittances;

Accreditation or debit in accounts enabled in the national financial system by Cooperation Agencies and implementing entities dependent on Foreign Governments that are exempt under international conventions, saving their current expenses and commissions; and

Bailouts of participation shares and/or their returns in Investment Funds, in foreign currency and in national currency with maintenance of value for any foreign currency, with balances less than or equal to $us. 2,000.-(TWO THOUSAND 00/100 AMERICAN DOLLARS).

The accounts reached by the exemptions provided for in this Article shall be expressly authorized by the competent authority. ARTICLE 10 (COLLECTION, AUDIT AND RECOVERY). The collection, taxation and collection of the Financial Transactions Tax is charged by the National Tax Service. ARTICLE 11 (DESTINATION OF THE TAX PRODUCT). The proceeds of the collection of the Financial Transactions Tax will be allocated in its entirety to the General Treasury of the Nation. FINAL PROVISIONS FIRST. All provisions contrary to this Law shall be abrogated and repealed. SECOND. The Executive Branch is responsible for the regulation of this Law. Refer to the Executive Branch for constitutional purposes. It is given in the Session Room of the Honorable National Congress, on the twentieth day of July of two thousand six years. Fdo. Roger Pinto Molina President in Exercise Honorable Chamber of Senators, Edmundo Novillo Aguilar, Ricardo Alberto Diaz, Félix Rojas Gutiérrez, Alex Cerrogrande Acarapi, Oscar Chirinos Alanoca Therefore, the law has been enacted to comply with the law of the Republic. Palace of Government of the city of La Paz, at the twenty-one day of the month of July of two thousand six years. FDO. SANTOS RAMÍREZ VALVERDE INTERIM PRESIDENT OF THE REPUBLIC, Walker San Miguel Rodriguez Minister of National Defense and Interim President of the Presidency, Luis Alberto Arce Catacora.