Indirect Tax Revenue Up by 200 Million BAM

SARAJEVO, (Patria) - Indirect tax revenues in the first three months of 2023 amounted to 2 billion and 429 million BAM, an increase of 200 million BAM or 8.95% compared to the same period in 2022, when they amounted to 2 billion and 229 million BAM.

In the first three months of 2023, the Indirect Taxation Authority of Bosnia and Herzegovina (UIO) returned 556 million BAM to the economy, which is 76 million BAM more than in the same period last year.

After the UIO returned 556 million BAM to the economy in the first three months of 2023 for VAT refunds, the net collected revenues distributed to beneficiaries, namely the state, entities, and Brčko District, amounted to 1 billion and 872 million BAM, an increase of 124 million BAM compared to the revenues received by beneficiaries from the Single Account for the same period in 2022.

In March 2023 alone, 858 million BAM in indirect taxes were collected, which is 52 million BAM more than in March 2022.

Revenue Distribution in the Period January - March 2023

In the first three months of 2023, an amount of 214 million BAM was allocated for financing state institutions. The remaining revenue, i.e., the largest portion of indirect tax revenue, was distributed to the entities and Brčko District. Thus, the Federation of Bosnia and Herzegovina received 744 million BAM, Republika Srpska received 421 million BAM, and Brčko District received 51 million BAM. The table below shows the total funds allocated to the entities and Brčko District with the corresponding external debt for the first three months of 2023 compared to the same period last year. All amounts are expressed in millions of BAM.

In addition to the distributed revenues shown in the table above, the Federation of Bosnia and Herzegovina received an additional 47.7 million BAM, Republika Srpska 31.2 million BAM, and Brčko District 1.6 million BAM from the special toll for highway construction and the construction and reconstruction of other roads (0.25 BAM). The difference represents a reserve in a special toll account of 0.25 BAM.