YPFB increases its payments of taxes by 20.2% and remains the main contributor
YPFB is the Bolivian state-owned hydrocarbons company, and as part of its efforts to promote the country’s economic growth, it has increased its payments of taxes by 20.2%, making it the main contributor to the national treasury.
YPFB’s Contributions to the Public Treasury
In the first quarter of 2020, YPFB presented a record-setting tax payment of 3 billion Bolivianos, which is a 20.2% increase compared to the same period last year. This amount represents nearly 50% of all the taxes paid by the national hydrocarbons sector in the same period.
Inevitable Increase of Public Expenditures
Due to the sustained increase in the payments of taxes, the public expenditure increases, contributing to the development of social policies and public services. For example, it has allowed the modification of several educational programs, increase the support to vulnerable groups and implement water and sanitation projects.
Price Control Measures
To ensure its competitiveness in the market and make sure that the population benefits from it, YPFB has implemented several control measures of gas prices. As a result of these actions, the country has better economic conditions and the income of the city’s inhabitants has grown significantly.
Striving for Sustainable Development
In an effort to increase its contribution to the country’s sustainable development, YPFB has also become committed to reduce its carbon footprints and implement renewable energy sources.
Conclusion
YPFB is making great efforts to help the development of the country and has increased its payments of taxes by 20.2%, becoming the main contributor to the public treasury. Its initiatives and control measures have resulted in improved economic conditions in the country, as well as better social policies and public services. Additionally, it is committed to reduce its carbon footprints and improve its energy sources, striving for better and more sustainable conditions.
