VAT on Imports increased Revenues from Indirect Taxes in BiH

February 28, 2018 11:00 AM

The most important increase of gross revenue from indirect taxes in BiH in 2017 included the VAT on imports (304.5 million BAM), domestic VAT (48.7 million BAM), and revenues obtained from customs, tolls and excises on petroleum products and tobacco products.

A record amount of VAT was paid in the year of 2017, and it was 209.5 million BAM more than in 2016.

The increase of revenues can be linked to extraordinary high increase of exports (17.4 %), and a strong increase of imports (12.2 %), as announced by the Department for Macroeconomic Analysis of the Indirect Taxation Authority (ITA BiH).

Despite turbulences in oil prices that took place all over the world, the increase of revenues from excises on oil products was increased by 1.9 % (gross). According to the monthly scheme of collection, we can conclude that an important factor of the increase again this year was the consumption of non-residents in transit, including the sector of tourism, as well as cross-border consumption, which represents a consequence of regional competitiveness of price of derivatives in BiH.

The trend of increase of indirect taxes from 2016 was continued in the year of 2017, and it was increased by 3.5 %.

The amount of collected net revenues of 5.726 billion BAM is the largest since the establishment of ITA BiH.

(Source: akta.ba)

 

 

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