Bolivia Gold Exporters Must Bring Home 80%
7 Articles
7 Articles
Bolivia Revamps Gold Export Rules in Bid to Attract Dollars
Gold exporters in Bolivia will have to deposit, in foreign currency and in national bank accounts, 80% of the computable value of their previous sales to the outside of that precious metal, according to Supreme Decree 5747, promulgated on Wednesday. The deposit of the currencies in the Bolivian financial system will be required for exporters to receive the Single Export Form M-03.
The new decree requires gold exporters to credit 80% of their revenues in the formal financial system.The entry government enacts decree that obliges gold exporters to credit foreign exchange was first published in La Patria Bolivia.
The Government ordered, by Supreme Decree 5747, that gold exporters prove the income of foreign currency to their accounts in banks in Bolivia, as a measure to prevent the diversion of value and opacity in financial flows.
The rule states that exporters must prove the deposit of foreign exchange with a financial institution regulated by ASFI.
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