BUSINESS

Over Five Billion BAM of Taxes collected last Year in Bosnia-Herzegovina

 

Director of the Federation of Bosnia-Herzegovina Tax Administration, Serif Isovic said during the press conference that the tax system is one of the most important levers and instruments of development of every modern country, and that the capacity of the tax system determines the capacity of the state.

“It is precisely the growth of public revenues and the continued increase in payments of public revenues from taxpayers that have contributed to expanding this state capacity, to increasing it.

This creates the preconditions for achieving a stable and prosperous Bosnia-Herzegovina. Paying five billion and 300 million BAM is not easy, especially in such a socio-economic and political environment as we have in BiH,” Isovic said at a press conference in Sarajevo.

Isovic explained that in the Federation of BiH, the largest number of employees is between 36 and 45 years old and amounts to 150,944 or 28.17 percent.

The average age structure of all FBiH employees is 535,937, which is 42 years, which means that we have a relatively young workforce. In terms of gender structure, 58 percent of men and women are employed, 41 percent. As the number of employees grows, more and more workers are retiring.

The number of pensioners also increased significantly and in 2014 the total number of pensioners amounted to 394,900, and as of December 31, 2019, the number of pensioners climbed to 424,009.

In four years, the number of pensioners has increased by 29,109.

Isovic also included work contracts in the gray economy. We have many contracts of work and in 2019 there were 106,531. The total number of persons who worked on the contract last year was 69,191, Vijesti.ba news portal reports.

 

 

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