Cutting the red tape in BiH through tax reform

December 17, 2012 3:41 PM

Council of Foreign Investors in BiH is working on a on a tax reform that will reduce the bureaucracy which is one of the biggest problems for foreign investors in BiH.

Bureaucracy impedes with economic activities, investments, and the implementation of planned deadlines for investment and return of capital.

” We signed a treaty with the Ministry of Finances and Tax Administration and we hope that by spring 2013 we’ll see the payroll taxes and parafiscal levies reduced. We hope for a positive effect, which will enable hiring more people and unburden the economy’’, said for FENA executive director of the Council of Foreign Investors in BiH Bojana Škrobić – Omerović.

Tax reform should go in the direction of tax relief and other miscellaneous fees, significant shortening of deadlines and time required to obtain the environmental and construction permits.

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