POLITICS

Parliament of BiH on the Increase in Excise Taxes on Monday: more expensive Fuel?

predstavnicki_dom_fffAt the session scheduled for Monday, August 1, the House of Representatives of the Parliamentary Assembly of BiH should consider the set of laws according to which excise taxes for fuel are to be increased by 15 pfenings, of which 10 pfenings is intended for the construction of highways and five pfenings for the construction of roads.

This set of laws includes the draft laws on amendments to the Law on Excise Taxes in BiH, the Law on Indirect Taxation System in BiH and the Law on Payments to the Single Account and the Distribution of Revenues that were proposed by the Council of Ministers of BiH.

For the first time, the excise taxes for motor fuels will be applied to biodiesel.

Proposed amendments to the mentioned laws foresee the payment of funds generated from additional excise taxes to designated accounts of public enterprises for construction of roads in BiH.

Council of Ministers of BiH stated that the adoption of these laws would enable the activation of already concluded credit agreements with the European Bank for Reconstruction and Development.

Although the proposed increase in excise taxes amounts to 15 pfenings per liter, due to the VAT the citizens will pay the fuel at the price which is by 17.5 pfenings higher than the current one, if the proposal is adopted.

(Source: klix.ba)

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