Overview

Capital
Sucre
Currency
Boliviano
Date Format
dmy

calendar icon Public holidays calendar

Taxes

Employer
2.00% - Housing
1.71% - Professional Risk
10.00% - Short Term Insurance
3.00% - Employer Solidarity Contribution
Employee
10% - Seniority Contribution
1.17% - Common Risk
0.50% - Pensionary Fund Commission
0.50% - Insurers Solidarity Contribution
13% - Flat Rate

Minimum Wage

General

Minimum wage is 2060BOB ($297) monthly

Payroll

Payroll Cycle

Salaries are paid on monthly basis on the last day of the month. Employees are paid a Christmas bonus in December equal to one months salary.

Working Hours

General

Fulltime employment is considered 48 hours weekly for men, and 40 for woman.

Overtime

Overtime is paid at 200%

Payroll Contributions

Social Security

Employees contribute 16.71% of their wages

Pension Fund

Employers can make voluntary contributions to employees pension plans. Employees contribute 12% of their wages.

Leave

Maternity Leave

45 days of leave before and after delivery (90 days in total) for the birth of every child. Female employees must be granted a period of one hour per day for breastfeeding during the child's first year, under schedules established by the employer. This hour must not be included in the two-hour break entitlement

Paternity Leave

partners of pregnant employees are protected from dismissal for a period of one year following the child's birth. They are also entitled to three days' paid leave when the child is born.

Parental Leave

No specific laws.

Termination

Termination Process

Employees on an indefinite contract require notification from the employer 90 days before termination. Temporary employment contracts terminated after:
1 month = 1 week notice, 3 months = 15 days notice, 1 year = 30 day notice.

Notice Period

Employee must provide 30 days of notice if on an indefinite contract.

Severance Pay

Employees are entitled to three salaries, plus one salary for every year employed by the company. If employed for less than one year, payments will be a percentage of salary correlating to the percentage of time of the year worked.

VAT

General

13% rate.