VAT in Bosnia-Herzegovina will retain at a Uniform Rate of 17 Percent

January 24, 2020 5:15 PM

 

 

 

Chairman of Bosnia-Herzegovina’s Council of Ministers Zoran Tegeltija said the new VAT Law is in the final stages and retains a uniform rate of 17 percent.

Tegeltija said that the Bosnian Board of Directors of the Indirect Taxation Authority is a proponent of the Law on VAT, which is in the final stage of drafting and that it should be submitted to the procedure in the Parliamentary Assembly.  As he says, the new VAT law, which was drafted before the 2018 elections, is in the final stages of drafting.

“The legal solution prepared by the experts maintained a uniform rate of 17 percent. We all need to know that if a differentiated VAT rate is introduced, then some of the revenue will be lost. Any shift in the VAT rate must imply that the revenues reach the citizens,” Tegeltija told RTRS.

Tegeltija believes that the manner in which jurisdiction over indirect taxes has been transferred to the state level is not good for Republika Srpska entity and that there was no such agreement with international financial institutions.

“The key issues are the amount of VAT, whether we have a differentiated rate and the deadline for paying VAT. In 2012, the Republika Srpska entity proposed a differentiated VAT rate that would be applied to a narrow group of major products, with the general rate increasing by 1 percent. We did not receive support from the Federation of Bosnia-Herzegovina and the institutions of the state of Bosnia-Herzegovina for that, ”Tegeltija said.

 

 

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