Indirect tax revenues up by 428 million KM compared to last year

SARAJEVO, (Patria) - Indirect tax revenues in the first eleven months of 2017 amounted to 6 billion and 477 million KM, an increase of 428 million KM or 7.07% compared to the same period in 2016, when they amounted to 6 billion and 49 million KM.

In November 2017 alone, 631 million KM of indirect taxes (VAT, excise duties, customs duties, and road tolls) were collected, which is 41 million KM more than in November 2016.

REVENUE ALLOCATION FOR THE PERIOD JANUARY-NOVEMBER 2017

In the period from 01.01. to 30.11.2017, the Indirect Taxation Administration (UIO) returned 1 billion and 180 million KM to the economy, which is 180 million KM more than in the same period last year.

After VAT refunds to taxpayers, which amounted to 1 billion and 180 million KM in the period from 01.01. to 30.11.2017, the net collected revenues distributed to beneficiaries, namely the state, entities, and Brčko District, amounted to 5 billion and 297 million KM, an increase of 247 million KM compared to the revenues received by beneficiaries from the Single Account in the same period of 2016.

For the financing of state institutions in the period from 01.01. to 30.11.2017, an amount of 689 million KM was allocated. The remaining funds went to the entities and Brčko District. Thus, in the first eleven months of 2017, the Federation of Bosnia and Herzegovina received a total of 2 billion and 938 million KM, Republika Srpska received 1 billion and 488 million KM, and Brčko District received 161 million KM.

Based on the special road toll for highway construction (0.10 KM) in the period from 01.01. to 30.11.2017, the Federation of Bosnia and Herzegovina received an additional 74.8 million KM, Republika Srpska received 49.4 million KM, and Brčko District received 2.5 million KM. The difference represents a reserve in a special road toll account in the amount of 0.10 KM.

Also, in May 2017, the Management Board of the Indirect Taxation Administration of Bosnia and Herzegovina (UIO BiH) adopted a Decision on the temporary allocation of revenues from road tolls for highways, which remained in the sub-account of the Single Account.

This Decision (number: 02-02-53/17, dated 29.05.2017) temporarily allocates funds from 10% of the total realized revenues from highway tolls in the amount of 27,983,543.59 KM, which remained in the sub-account of the Single Account in accordance with Article 2, Paragraph 1 of the Decision on the temporary allocation of revenues from highway tolls ("Official Gazette of BiH", number 102/09).

In accordance with Article 2 of the aforementioned Decision, the Administration allocated the funds to the beneficiaries on 08.06.2017 as follows:

The Federation of Bosnia and Herzegovina was allocated a total amount of 16,510,290.72 KM (59.00%),
Republika Srpska was allocated a total amount of 10,913,582.00 KM (39.00%),
Brčko District of Bosnia and Herzegovina was allocated a total amount of 559,670.87 KM (2.00%).