BUSINESS

Indirect Taxation Authority: Increase Excise Taxes on Fuel and Alcohol

12696025_1107210749329880_1224473705_nAt yesterday’s regular session, the Steering Committee of the Indirect Taxation Authority (UIO) BiH adopted a Draft law on amendments to the Law on Excise Taxes in BiH, according to which excise taxes on oil and oil products, auto gas, and bear and alcoholic beverages are to increase.

According to the draft, excise tax on oil and oil products will increase by 0.15 BAM, while special excise tax amounting to 0.15 BAM will be paid for beer, representing earmarked revenue of the entity health insurance funds.

According to this law, a special excise tax amounting to five BAM per liter of absolute alcohol for alcoholic beverages and 2.5 BAM for natural brandy is being introduced.

Amendments to this law also include paying toll in the amount of 0.25 BAM per liter of oil products and the equal amount for a kilogram of auto gas. These funds will be earmarked for the construction of highways and roads in 80:20 ratio – 0.2 BAM would be allocated for highways, and 0.05 BAM for roads.

At the last session, members of the Steering Committee of UIO supported the initiative by the Ministry of Foreign Trade and Economic Relations for the introduction of the so-called “blue diesel”. This part of amendments to the law will be launched at the very end of this year, so that all obligations regarding the making of a register of agricultural properties in places where such register does not exist are fulfilled.

This draft does not deal with tobacco and tobacco products, since the excise taxes in this field are harmonizing with European directives. It was also highlighted that corrections in the amount of excise tax paid for these products will be made by the end of the year, along with earmarked directing of funds to the health sector.

It was concluded at the session that amendments to the set of laws that follow the application of the Law on Excise Taxes in BiH are being prepared at the same time.

UIO will forward the Draft Law on amendments to the Law on Excise Taxes in BiH to regular procedure, while the Parliamentary Assembly of BiH is to give the final word.

(Source: klix.ba)

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