New discussion on Increase in Excise Taxes today? 

After vacation season and a one-month-long break, the House of Representatives of the Parliamentary Assembly of BiH is holding a session today.

At this session, delegates will consider the request by the Council of Ministers for consideration of the Draft Law on amendments to the Law on Excise Taxes in BiH, the Draft Law on amendments to the Law on Indirect Taxation System in BiH, and the Draft law on amendments to the Law on Payments to the Unique Account and Distribution of Revenues.

If these drafts are adopted and adjusted to the requests of the Council of Ministers, citizens of BiH will pay 0.15 fenings more for one liter of fuel.

The Council of Ministers of BiH reached this decision already on June 29 this year, with the aim of respecting the assumed contractual liabilities and ensuring necessary means for servicing of contracts on loans with the European Bank for Reconstruction and Development for completion of the launched projects related to the construction of road infrastructure in FBiH and RS.

Namely, in the agreements for financing of construction of road infrastructure the clauses have been negotiated, in which BiH assumed the obligation to increase excise taxes on oil products as a condition for efficiency of these credits.

“Because of this the credit agreements cannot become operational until the liability is fulfilled. Increase in excise taxes ensures long-term sustainability of public enterprises that deal with construction of roads and mitigates risks for the budgets of entity governments,” the Council of Ministers stated.

Draft Law on amendments to the Law on Excise Taxes defines the following excise taxes for oil products: diesel fuel and other gas fuels 0.45 BAM, kerosene 0.30 BAM, gasoline-unleaded 0.50 BAM, gasoline 0.55 BAM, fuel oil 0.45 BAM and biofuel and bio liquid 0.45 BAM.

(Source: nap.ba)

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