Indirect tax revenues down by 325 million KM

(Patria) - Indirect tax revenues in the first five months of 2020 amounted to 2 billion and 880 million KM, and are 325 million KM or 10.14% lower compared to the same period in 2019 when
they amounted to 3 billion and 205 million KM. In the first five months of 2020, the Indirect Taxation Authority of Bosnia and Herzegovina (UIO) returned 528 million KM to the economy, which is 99 million KM less compared to the same period last year.

Net collected revenues distributed to beneficiaries in the first five months of 2020, namely the state, entities, and Brčko District, amounted to 2 billion and 352 million KM, and are 227 million KM lower compared to the revenues received by beneficiaries from the Single Account in the same period of 2019. 

In May 2020, 487 million KM of indirect taxes were collected, which is 228 million KM less compared to May 2019. The decline in indirect tax revenues was caused by the COVID 19 virus pandemic.
In May 2020, there was a decrease in imports of goods into BiH, which affected the decline in revenues from import duties, and due to reduced final consumption, revenues from VAT in domestic trade also significantly decreased. We remind you that many economic activities operated at reduced
capacities, or not at all, during the COVID 19 pandemic.

An amount of 304 million KM was allocated for financing state institutions in the first five months of 2020.