The Indirect Taxation Authority (ITA) of Bosnia and Herzegovina (BiH) collected 568 million BAM of indirect taxes in January this year, which is 85 million BAM more compared to the same month last year, when the revenues from VAT, excise duties, customs duties and tolls amounted to 483 million BAM.
After ITA in January 2018 returned 116 million BAM to economy in VAT refunds, the distribution of revenues from the Single Account in January was allocated for the financing of state institutions, according to entity finance ministries and the Brcko District Finance Directorate.
The amount of 61 million BAM was allocated for the financing of state institutions, Federation of BiH was paid a total of 244.5 million BAM, Republika Srpska (RS) 122.5 million BAM, and Brcko District 13.5 million BAM.
The distribution of revenues from the ITA Single Account is performed in accordance with the Law on Payments to the Single Account and the Allocation of Revenues and the Decision on the Coefficients for the Distribution of Income to Entities, which was issued by the ITA Executive Board.
The ITA recalls that in 2017, the ITA collected record revenues from indirect taxes, which amounted to seven billion and 44 million BAM.
“In 2018, an even more ambitious plan was shown to the ITA, according to which it should collect seven billion and 342 million BAM of indirect tax revenues, “ the statement said.