VAT Refund for First Property Purchase on Hold: Everything Depends on the UIO Management Board, Which Has Not Met for Four Months!

(Patria) - The implementation of the Law on VAT Refund for the purchase of the first property has not yet begun, and the question remains when it will.

State representative Saša Magazinović (SDP BiH) received a response from the chairman of the Management Board of the Indirect Taxation Authority, Srđan Amidžić, stating that a preliminary draft of implementing acts has been prepared.

"The preliminary draft of the Rulebook on Amendments to the Rulebook on the Application of the VAT Law, which regulates VAT refund on the first property, was submitted to the UIO Management Board for adoption after meetings held with other entity institutions and institutions at the BiH level, receiving several suggestions from eminent experts as well as representatives of the UIO. At the next session of the UIO Management Board, the relevant rulebook will be considered, and if there is consensus, consent will be given to the UIO to conduct the Public Consultation procedure," Amidžić stated in his response.

Magazinović emphasizes that the Law came into force in the first half of April this year.

"Since then, everyone who buys their first property has the right to a refund. The adoption of implementing acts is the responsibility of the Indirect Taxation Authority and its Management Board. My assessment is that this is moving slowly. Many people are waiting for the implementation to begin. It is not logical that four months have passed since the adoption of the law, and not even the preliminary draft of implementing acts has been adopted. I call for this process to be accelerated," Magazinović states.

Incidentally, the session of the UIO Management Board has not been held since April. The next session is scheduled for August 26 in Banja Luka, but if none of the finance ministers appear, it will not be able to take place.