521 million BAM collected from indirect taxes in April

In April 2015, the Indirect Taxation Authority collected 521 million BAM in indirect taxes, including VAT, excise duties, customs duties, and tolls. Thus, in April, 16 million BAM more was collected on the Unified Account of the ITA compared to the planned revenues for April 2015, and 2 million BAM more compared to April 2014, announced the ITA BiH, as reported by the Bosnian news agency Patria.

Based on VAT refunds, the ITA returned 91 million BAM to taxpayers in April this year, or 17 million BAM less compared to April 2014, so the net revenues allocated to beneficiaries in this month amounted to 429 million BAM, which is 18 million BAM more compared to the funds allocated to the state, entities, and Brčko District in April 2014.

Revenues from indirect taxes in the first four months of 2015 amounted to 1 billion and 964 million BAM and are higher by 50 million BAM or 2.6% compared to the same period in 2014.

The distribution of indirect tax revenues is carried out in accordance with the Law on Payments to the Unified Account and Revenue Distribution and in accordance with the decisions of the Management Board on coefficients for revenue distribution to entities. Thus, in the first four months of 2015, the same amount as the previous year was allocated for financing state institutions, totaling 254 million BAM.

In the first four months, 875 million BAM was allocated to the Federation of BiH, 437 million BAM to the Republika Srpska, and 48 million BAM to the Brčko District. The remainder of the funds represents VAT refunds to taxpayers in the first four months of 2015 and reserves on the special toll account for highway construction.