How will the Excise Money be actually used?

January 31, 2018 1:15 PM

In a long, hard and energetic struggle to adopt the Law on Excise Duties in BiH, which comes into force on February 1, and which will mean that the price of fuel will be increased by 15 fening per liter, it was emphasized that there is no construction of highways and infrastructure works in BiH without new excises.

“The money collected from excise taxes will be strictly monitored, it will be deposited on special accounts, and BiH will become the largest construction site since the war.” This was used as the alibi of those parliamentarians who gave their vote for the increase of prices of fuel in our country.

However, Minister of Finances of BiH Vjekoslav Bevanda spoke quite differently.

“Entity companies for the construction of highways were rated as loan incompetent by creditors. All the loans that were in the contracting phase or already contracted were frozen. This additional excise tax will not go on a construction of a highway. It is certain that the loans that were taken will be returned. That’s the basics of the story of excise taxes,” noted Bevanda.

The opposition representatives who did not support the adoption of the Law on Excise Duties warned that the new taxes will not be used for the construction of new kilometers of the highway, but for budget holes, which was denied by the government all the time.

The prices of fuel in BiH will be increased by 2 BAM after the excises. The fuel price in the country was increased by 0.40 BAM in the last few months.

(Source: nap.ba)

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