I am thrilled! I got my NIT number today. Now I can deduct taxes.
Or something like that.
Here's the deal. In Bolivia you pay 25% of your monthly salary to taxes. Then you pay other taxes at the end of the year.
However, once you get a NIT number you can deduct most of what you purchase from your taxes.
So, for seven months I have had to pay a full 25% tax on my salary - BAD YES - but not the worst part. They will not let you pay the 25% until you get your NIT. Then you have to pay the whole thing at once. So, I now have to pay 25% of seven months salary immediately.
Now you financial people are saying, Well he knew that, so surely he has been setting 25% aside each month.
How well do you know Joeline and I? In our entire 43 years together we have never saved a dime.
So why am I so happy to finally get my NIT? Because for the next year and a half I can at least deduct some expenses. Again, those of you who know us know that we have expenses.