Entities without consent, road construction blocked

Entities without consent, road construction blocked

Entities without consent, road construction blocked Izvor: Ministarstvo finansija BiH

Bosnia's Finance Minister Vjekoslav Bevanda said entities did not manage to reach consent on the distribution of revenues collected through the road tax payment, which blocked the allocation of funds for entities' road construction companies.

Bevanda met on Wednesday with Chief of the European Bank for Reconstruction and Development (EBRD)'s Office in Bosnia Ian Brown and EBRD's Senior Counsellor Franklin Steves, with whom he discussed the ongoing and future projects in Bosnia funded by the EBRD. They also discussed the current situation with accumulated revenues collected from the road tax payment, stored on the Bosnia's Central Bank special sub-account.

Bevanda, who chairs the Steering Board of the Bosnia's Indirect Taxation Authority (ITA), explained that the Republika Srpska (RS) and the Federation of Bosnia and Herzegovina (FBiH), two semi-autonomous entities, failed to reach consent on this matter.

Distribution of the collected funds for construction and reconstruction of roads and highways in Bosnia is to be carried out in line with methodology defined by the ITA Steering Board.

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