Overview
Capital
SucreCurrency
BolivianoDate Format
dmy 
Public holidays calendar
Taxes
Employer
2.00% - Housing
1.71% - Professional Risk
10.00% - Short Term Insurance
3.00% - Employer Solidarity Contribution
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
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
Paid Time Off
Vacation days
Employees employed between 1-5 years are eligible for 15 vacation days, 5-10 years employed = 20 days, 10+ years employed = 30 days.
Sick days
Employees are entitled to 5 days of paid sick leave yearly.
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.
Working Hours
General
Fulltime employment is considered 48 hours weekly for men, and 40 for woman.
Overtime
Overtime is paid at 200%
VAT
General
13% rate.
Payment
Payroll Frequency
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.
Mandatory Benefits
Pension Fund
Employers can make voluntary contributions to employees pension plans. Employees contribute 12% of their wages.
Social Security
Employees contribute 16.71% of their wages
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.
1 month = 1 week notice, 3 months = 15 days notice, 1 year = 30 day notice.
Advance Notice
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.
