BUSINESS

Companies from Bosnia-Herzegovina owe 463 million BAM of VAT!

 

Sarajevo based public utility company GRAS is the first in the list of debtors for unpaid VAT.  This state-owned company owes 21,739,891 BAM to the Indirect Taxation Authority (ITA).  In the list of debtors is the second “Sarajevo Brewery” with 17,466,032 BAM of unpaid VAT, while the company “Bosmal” owes 9,002,072 BAM.

In the list of debtors, which was updated in November 2019, as Ratko Kovacevic from ITA confirmed for Dnevni Avaz news portal, the next is the Federal Directorate of Commodity Reserves, which owes the country 6,150,167 BAM, and the fifth company is “Bob- pro ”, which owes 5,922,501 BAM. Since the ITA was established at the end of 2003, until the beginning of last year, the total VAT debt has been 463 million BAM.

During this period, 77 billion BAM of VAT was collected, and the amount of current debt is 0.6 percent in relation to the total collection. As Kovacevic said, the debt is growing, but in large part because of default interest, which is 0.04 percent every day of delay.

“Due to the fact that the largest debtors do not settle their obligations for years, the default interest on each day of delay affects the increase in the amount of VAT debt. The Indirect Taxation Authority implements all statutory indirect tax collection measures prescribed by law to collect debt more efficiently. Both debt payment in installments and deferred payment are approved,” Kovacevic said.

Five firms among the largest debtors are Radio-Television BiH (4.792.283 BAM), MB-Kekerovic (4.357.047 BAM), “Djuša” (3.266.257 BAM),  MASS (3.182.312 BAM),“K & Data” (2.771.924 BAM).

 

 

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