YPFB increases tax payments by 20.2% and remains the main taxpayer

This YPFB release was published using machine translation.

La Paz, Mar 22 (AN/YPFB) during the 2022 management in relation to 2021, a situation that makes the state oil company the main contributor to the national treasury, a position that has been maintained for the last 16 years.

The executive president of YPFB, Armin Dorgathen Tapia, said today that the payment of taxes made by the state oil company translates into infrastructure, education and health works, which benefit the Bolivian population in general.

“Tax payments were raised due to the economic reactivation policy promoted by the National Government, led by our president Luis Arce Catacora, focused on the domestic market. This meant a growth of 17.8% in the payment of the IDH, 43.4% in other taxes and 24.8% for withholdings made to third parties”, affirmed the YPFB executive.

TAXES

The state company, like any other taxpayer, pays the Transaction Tax (IT), Value Added Tax under the current Online Billing System (VAT), Business Profit Tax (IUE) that apply to the profits resulting from the financial statements at the close of each management.

In addition, there is the Tax on the Profits of Beneficiary Companies from Abroad (IUE-BE) that taxes profits obtained from services carried out outside the country and withholdings for IT-IUE-RC VAT in the national territory, in addition to paying other taxes specific to the sector, as well as any other tax in force at the national or subnational level.

YPFB paid a value of Bs 840 million for IT and withholdings of Bs 9.7 million for operations carried out last year, figures that far exceed what was paid in the 2021 administration. The taxes paid by the state oil company in 2022 compared to 2021 they increased, in the case of taxes in general without taking into account the IDH, from Bs 585 million to Bs 840 million and withholdings to third parties from Bs 7.8 million to Bs 9.7 million.

In the analysis period (2006-2022), YPFB's total contribution was Bs 14,427 million in favor of the National Tax Service (SIN) and more than Bs 430 million for tax withholdings made by Yacimientos Petrolíferos Fiscales Bolivianos to third parties, amounts that exclude the IDH, the main tax paid by the company, according to data presented by the Administration and Corporate Finance Management (GAFC) of the state oil company.