483 Million Collected: Indirect Tax Revenue in January Up by 5 Million KM

In January 2017, 483 million KM of indirect taxes were collected, which is 5 million KM or 1.03% more compared to January 2016, when revenues from VAT, excise duties, customs and road tolls amounted to 478 million KM, the Indirect Taxation Authority of BiH announced, Patria reports. 

After VAT refunds were processed, the distribution of revenue from the Unified Account of the Indirect Taxation Authority in January amounted to: 61 million KM was allocated for financing state institutions. The remaining funds were distributed to the entity ministries of finance and the Brčko District, namely: a total of 211 million KM to the Federation of BiH, 106 million KM to the Republika Srpska, and 11 million KM to the Brčko District.

We remind you that in 2016, the ITA collected record indirect tax revenues, which amounted to 6 billion and 638 million KM, an increase of 284 million KM or 4.48% compared to 2015, when they amounted to 6 billion and 354 million KM.