What is the Amount of total Debt based on Taxes in the FBiH?

July 23, 2017 10:00 AM

This week, the Tax Administration of the FBiH published on its website an overview of its taxpayers who owe more than 50.000 BAM on the basis of tax liabilities, contributions, and fees, and which was made according to the records of the competent cantonal tax offices.

The list of the Tax Administration includes a total of 2,647 subjects who owe more than 50,000 BAM of tax liabilities, and the total amount of debt based on taxes, contributions, and fees in the FBiH amounted to 2.27 billion BAM. Out of the total amount of debt, 1.797 billion BAM refers to principal and 472.8 million BAM refers to interest.

“Obligations based on the PIO cannot become outdated, which means that the Government of FBiH and cantonal governments need to allocate funds for bonding of work experience as well. When it comes to other types of indebted business subjects, the possible solution would be to settle the debt with unconditional interest by providing debt relief, and the last solution would be the bankruptcy of those taxpayers who cannot settle their debts,” as stated from the Tax Administration of the FBiH.

It was also proposed that all public subjects are obliged to pay their current liabilities on time and if they fail to do that, the Tax Administration will carry out all the activities of compulsory collection without further delay, and in the case of a delay in the payment of installment or the current obligation for the period  longer than 30 days, to prescribe the obligation to initiate bankruptcy proceedings.

“The Tax Administration specifically insisted that with any agreed solution, a requirement for the payment of debt should be that debtors must pay current tax liabilities and that the writing off a debt is not made on behalf of contributions for pension and disability insurance that is included in the calculation of pensions. Together with these proposals, the Tax Administration recommended for all the managing bodies and founders of debtors to urgently, not later than 30 days, conduct business analysis and implement quick, detailed and fundamental change of all key activities that will lead to a reduction and rationalization of costs, the increase in the amount of work and income, which will create conditions for payment,” as noted by the Tax Administration of the FBiH.

They also stated that it is necessary to forbid by law the performance of all public functions to leaders of businesses who committed evasion of taxes or who deliberately avoided to pay taxes.

(Source: klix.ba)

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