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Bolivia Tax Information

13% IVA + 3% IT

IVA is 13%. IT (Transaction Tax) 3% additional. NIT required for all businesses.

Lawyer Services to Invoice

  • Legal consultation
  • Document review
  • Contract drafting
  • Litigation
  • Court appearances
  • Research
  • Retainer services

Invoice Requirements in Bolivia

NIT number
SIN registration
Client NIT
Invoice number
IVA (13%)
Total in BOB

Payment Terms

Retainer upfront. Bills typically due Net 30. Trust accounts for client funds.

Contado15 días30 díasCrédito

Payment Methods in Bolivia

Bank TransferBanco MercantilBCPCredit CardCash

Lawyer Invoice Tips

  • Bill in standard increments
  • Detail each task
  • Reference case number
  • Separate disbursements
  • Include trust account details

Frequently Asked Questions

What tax rate applies to lawyer invoices in Bolivia?

Bolivia has 13% IVA + 3% IT. IVA is 13%. IT (Transaction Tax) 3% additional. NIT required for all businesses.

What payment methods are common for lawyers in Bolivia?

Common payment methods in Bolivia include: Bank Transfer, Banco Mercantil, BCP, Credit Card, Cash. Retainer upfront. Bills typically due Net 30. Trust accounts for client funds.

What should lawyer invoices include in Bolivia?

Your invoice should include: NIT number, SIN registration, Client NIT, Invoice number. For lawyer services specifically, also include: Legal consultation, Document review, Contract drafting.

How should lawyers detail time entries?

Include date, task description, time spent, and attorney name. Use standard billing increments.

How do lawyers handle retainers?

Hold in trust. Bill against retainer and request replenishment when low.

What taxes apply in Bolivia?

Bolivia has 13% IVA plus 3% IT (Impuesto a las Transacciones) on gross sales, making effective tax around 16%.