Over 12 Million BAM less VAT recorded in Bosnia and Herzegovina

April 27, 2020 11:00 AM

 

In March 2020, taxpayers in Bosnia and Herzegovina reported a total of 158 million BAM in VAT, which is 12.6 million BAM less than the amount of the declared obligation in March 2019. year, when the payers paid 170.5 million BAM.

Bosnia and Herzegovina’s (BiH’s) Indirect Taxation Authority states that a total of 45,849 taxpayers filed VAT returns for the March 2020 tax period. This means that 99.2% of all registered taxpayers filed on time.

Generally speaking, in March 2020, there was a decrease in total purchases and total deliveries, so it is logical that there was a decrease in the declared obligation to pay VAT returns, the response states.

The Administration explains that those taxpayers who worked and issued invoices (markets, pharmacies, telecoms, electricity companies…), reported and paid VAT.

On the other hand, taxpayers who did not work did not even issue invoices (catering, other closed activities…), and therefore have no obligation to pay VAT.

At this moment in BiH there are no changes to the legal solution regarding VAT, and many countries in the world have not touched the laws on value added tax, but have taken certain measures in the area of direct taxes (income tax, tax) to help the economy income tax, withholding tax, property tax, etc.).

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