Bosnia records growth in indirect tax collection

NEWS 04.08.2018 18:21
Source: Morgue File (ilustracija)

Bosnia and Herzegovina's Indirect Taxation Authority (UIO) collected over 4 billion Bosnian Marks (BAM) of indirect taxes, which is by 9.14 percent more than in the same period last year, UIO spokesperson said.

Only in the month of July 2018, the UIO collected BAM 688 million of indirect taxes, by BAM 69 million more than in July 2017, spokesperson Ratko Kovacevic said.

After the UIO returned the value-added tax (VAT) in an amount of BAM 790 million, the net collected revenue that was distributed to the state level, entity level and the Brcko District amounted to BAM 3.476 billion, which is by BAM 299 million more than these three beneficiaries received in the January-July period last year.

The amount of BAM 432 million was allocated in the first seven months of this year for the financing of the state institutions. The Federation of Bosnia and Herzegovina (FBiH) entity received BAM 1.931 billion, the Republika Srpska (RS) entity BAM 982 million and the Brcko District BAM 105 million,” Kovacevic said, adding it was encouraging that the VAT-based income increased as well.

The distribution of the collected taxes is regulated with the Law on Payments into the Single Account and Distribution of Revenues, as well as with the Decisions brought by Governing Board on partition coefficient.