IMF Representatives at Indirect Taxation Authority: Results in 2025 already better than in 2024

(Patria) - The Indirect Taxation Authority has collected 11.6 billion BAM in indirect taxes as of today, already exceeding the amount of revenue collected throughout 2024, it was highlighted during today's meeting of the IMF mission with the Director of ITA, Zoran Tegeltija, in Banja Luka.

The IMF mission, which visited the ITA today, was led by David Amaglobeli, Head of Mission, and Andreas Tudyka, Resident Representative, was also present at the meeting at the ITA.

Today's meeting in Banja Luka discussed trends in indirect tax revenue collection and prospects for 2025, as well as projections for 2026.

“In line with previous trends in revenue collection, the ITA expects to collect a total of 12.2 billion BAM by the end of the year, which would represent a nominal growth in total collected revenue compared to the previous year of about 650 million BAM, or 5.2%,” stated ITA Director Tegeltija during the meeting.

According to the revenue projection, based on projected relevant macroeconomic indicators, the Macroeconomic Analysis Department at the ITA Management Board has predicted net indirect tax revenue growth rates of 4.5% in 2026. Discussing legal legislation at the meeting, it was stated that the ITA, in accordance with the need to align with the EU acquis communautaire and new forms of business operations, has prepared drafts of two completely new systemic, key laws:
- The Law on VAT, for which the entire procedure in accordance with the Unified Rules for Drafting Regulations in BiH has already been completed and which has been submitted to the ITA Management Board for the purpose of obtaining consent to forward it to the Council of Ministers of BiH and further into the legislative procedure,
- The Law on Excise Duties, which has been submitted to the ITA Management Board for the purpose of obtaining consent to carry out the procedures in accordance with the Unified Rules for Drafting Regulations in BiH.

Today's meeting also discussed the importance of international projects and technical assistance programs financed by international funds, aimed at strengthening the ITA's capacities and aligning with EU legislation and practice, for the work of the ITA. The importance of daily cooperation on almost all current ITA activities with the IMF Resident Representative Axel Sorensen was particularly emphasized.