Law on Excise Taxes on Fuel to be discussed on Wednesday

March 21, 2017 3:30 PM

council-of-ministersOn Wednesday, on the meeting of the Council of Ministers, the amendments to the Law on Excise taxes will be discussed.

If the changes to the law get adopted, drivers in BiH will feel the consequences. The amendments to the Act will increase the excise tax on oil, oil products and fuel oil for 15 pfennigs per liter of fuel.

The new excise taxes will be divided in a ratio of 10 pfennigs for the construction of highways and 5 pfennigs for other roads.

Increased fuel prices are expected to be active from 1st  April.

The increase in fuel prices is asked by the International Monetary Fund (IMF) and thus creates a new package of assistance BiH. There is a new arrangement with the IMF, and the World Bank, without which the budgets of BH government are doomed to collapse in 2017.

The new excise tax on fuel will increase the state taxes in the price of fuel. To recall, currently the for the liter of fuel state takes 30-40 pfennigs for the current excise tax on petroleum products, 15 pfennigs for the main roads, 10 pfennigs for highways, 17 percent VAT on the final price and extra pfennig for the establishment of petroleum products.

(Source: klix)

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