Bolivia
Financial Reporting Obligations for Companies in Bolivia
1. Registry for Submitting Financial Statements
In Bolivia, companies are required to submit their financial statements (annual reports) to the Registro de Comercio de Bolivia (Commercial Registry of Bolivia), managed by the Fundempresa (https://www.fundempresa.org.bo/). Financial statements must be submitted electronically through the Fundempresa’s online portal.
Public Access to Financial Statements:
In Bolivia, financial statements of listed companies are publicly available through the Bolsa Boliviana de Valores (BBV) (https://www.bbv.com.bo/).
However, financial reports of private companies (SRL, S.A. and other non-listed entities) are not publicly accessible. Such reports are filed with regulators but are not disclosed to the general public.
2. Legal Forms Obliged to Publish Financial Statements
Legal forms in Bolivia that are required to submit and publish their financial statements (annual reports) to the Registro de Comercio de Bolivia include:
- Sociedad de Responsabilidad Limitada (S.R.L.)
Translation: Limited Liability Company
Notes: Must submit annual financial statements to the Commercial Registry. Audits are required if thresholds are exceeded. - Sociedad Anónima (S.A.)
Translation: Joint Stock Company
Notes: Obliged to submit annual financial statements and undergo mandatory audits regardless of size. - Sociedad Colectiva
Translation: General Partnership
Notes: Required to submit annual financial statements. Audit is mandatory if thresholds are exceeded. - Sociedad en Comandita Simple (S. en C.)
Translation: Limited Partnership
Notes: Must submit annual financial statements. Audit is required if thresholds are exceeded. - Sociedad en Comandita por Acciones (S.C.A.)
Translation: Partnership Limited by Shares
Notes: Obliged to submit annual financial statements and mandatory audits apply. - Empresa Pública
Translation: Public Company
Notes: Required to submit annual financial statements as per Bolivian law and subject to mandatory audits. - Cooperativa
Translation: Cooperative
Notes: Must submit annual financial statements. Audits are required if economic activity exceeds thresholds. - Asociación Civil
Translation: Civil Association
Notes: Required to submit annual financial statements if it engages in significant economic activities. - Fundación
Translation: Foundation
Notes: Must submit financial statements if it engages in economic activities. - Sucursal de Sociedad Extranjera
Translation: Branch of a Foreign Company
Notes: Must submit financial statements in line with Bolivian and parent company regulations.
Legal Forms Not Obliged to Publish Financial Statements
- Empresa Unipersonal
Translation: Sole Proprietorship
Notes: Exempt from publishing financial statements unless turnover exceeds specified thresholds. - Microempresa
Translation: Microenterprise
Notes: Exempt from publishing financial statements but must maintain financial records for tax purposes. - Empresa Familiar
Translation: Family Business
Notes: Exempt from publishing financial statements but required to keep financial records for tax purposes. - Obreros Individuales
Translation: Individual Workers
Notes: Not required to publish financial statements but must maintain records for tax purposes. - Pequeñas Unidades Productivas (PUPs)
Translation: Small Productive Units
Notes: Not required to publish financial statements unless they engage in economic activities above certain thresholds. - Comunidad Campesina o Indígena
Translation: Indigenous or Peasant Community
Notes: Exempt from publishing financial statements but must maintain records for community activities. - Personas Naturales que Realizan Actividades Económicas
Translation: Natural Persons Engaged in Economic Activities
Notes: Exempt from publishing financial statements but required to keep records for tax purposes.
Notes:
- Non-profit organizations such as asociaciones civiles and fundaciones have reporting obligations but may only need to submit simplified financial reports unless they engage in significant economic activities.
3. Companies Requiring Audited Financial Statements
In Bolivia, companies must have their financial statements audited if they meet specific conditions as governed by the Ley de Auditoría y Contabilidad (Auditors Activities Act) (https://www.lexivox.org/norms/BO-L-1999-249.xhtml). Companies are generally required to undergo audits if they meet at least two out of three criteria: turnover, total assets, and number of employees.
|
Legal Form |
Audit Rule |
Criteria (must meet at least two of the three) |
|
Sociedad de Responsabilidad Limitada (S.R.L.) |
Mandatory audit if thresholds are exceeded |
- Turnover (more than) BOB 30 million |
|
Sociedad Anónima (S.A.) |
Audit always required |
No minimum thresholds; audit is always mandatory for joint stock companies. |
|
Sociedad Colectiva |
Audit required if thresholds are exceeded |
- Turnover (more than) BOB 30 million |
|
Sociedad en Comandita Simple (S. en C.) |
Audit required if thresholds are exceeded |
- Turnover (more than) BOB 30 million |
|
Sociedad en Comandita por Acciones (S.C.A.) |
Audit required if thresholds are exceeded |
- Turnover (more than) BOB 30 million |
|
Cooperativa |
Audit required if thresholds are exceeded |
- Turnover (more than) BOB 30 million |
|
Empresa Pública |
Audit always required |
Public companies are always subject to audit regardless of thresholds. |
|
Asociación Civil |
Audit required if economic activity is high |
- Turnover (more than) BOB 30 million |
|
Fundación |
Audit required if economic activity is high |
- Turnover (more than) BOB 30 million |
|
Sucursal de Sociedad Extranjera |
Audit depends on parent company obligations |
Follows parent company rules but may also be subject to Bolivian audit requirements based on local thresholds. |
|
Empresa Unipersonal |
Generally exempt, unless thresholds are exceeded |
- Turnover (more than) BOB 30 million |
|
Microempresa |
Generally exempt, unless engaging in economic activity |
- Turnover (more than) BOB 30 million |
4. Local Stock Exchange and Financial Statements Publication
- Bolsa Boliviana de Valores (BBV) (https://www.bbv.com.bo/): Companies listed must publish their financial statements in accordance with exchange regulations.
5. Deadline for Submitting Financial Statements
The deadline to submit financial statements to the Commercial Registry is typically within three months after the end of the fiscal year for most legal forms. For listed companies, stricter deadlines apply as per the Bolivian Stock Exchange regulations.
6. Companies Submitting Partial Financial Statements
Certain smaller legal entities with lower turnover or total assets (below BOB 4 million) may submit simplified financial statements.
7. Consequences for Late Submission of Financial Statements
Failure to submit financial statements on time can result in various penalties, including fines and potential legal actions. Fines range between BOB 2,000 and BOB 20,000.
8. Requirements for Foreign-Owned Branches and Newly Established Companies
Foreign-owned branches operating in Bolivia must submit financial statements in line with both Bolivian law and the regulations of their parent company. Newly established companies have until the end of their first fiscal year to submit their initial financial statements.
Sources
| Source | Link |
| Registro de Comercio de Bolivia (Fundempresa) | https://www.fundempresa.org.bo/ |
| Ley de Auditoría y Contabilidad (Auditors Activities Act) | https://www.lexivox.org/norms/BO-L-1999-249.xhtml |
| Bolsa Boliviana de Valores (BBV) | https://www.bbv.com.bo/ |
| Start Companies Search | Order Credit Report |
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