Will VAT payment finally be moved to the end of the month

(Patria) - Amendments to the Value Added Tax Act, which move the VAT payment deadline to the end of the month, were submitted to the parliamentary procedure under an urgent procedure by the Deputy Speaker of the House of Representatives of the BiH Parliamentary Assembly Denis Zvizdić (SDA) some time ago. MPs will discuss this on May 15 at a session of the House of Representatives, but this is not the first time such initiatives have failed.

Earlier, Saša Magazinović (SDP) proposed something similar. That was before the epidemic that befell us, and at that time the proposal did not meet with approval; now the question is whether MPs will change their minds during the coronavirus pandemic.

The proposal to amend the VAT Act allows for the adoption of a temporary decision that moves the deadline for submitting a VAT payment return from the 10th of the month to the last working day of the month. Such a decision can be valid for a period of up to 90 days, with the possibility for the Council of Ministers of BiH to extend it for another 90 days.

By adopting this amendment to the VAT Act, one of the key measures that the real sector and the entire business community have been requesting from the state level, i.e., from the Council of Ministers of BiH, since the beginning of the coronavirus pandemic would be fulfilled, and it would significantly help in mitigating the economic problems and disruptions of economic activities caused by the harmful effects of the coronavirus pandemic.