First time since the establishment of the ITA of BiH: Part of the debt collected through sale of shares

The Indirect Taxation Authority has, for the first time since its establishment, in the enforcement procedure sold securities owned by a tax debtor, reports the news agency Patria.

The company “R&S Company” d.o.o. from Prnjavor has a total debt based on indirect taxes of 1.7 million KM. In the enforcement procedure, the ITA, among other things, registered a lien with the Central Registry of Securities.

- These are shares of the issuer Banjalučka pivara a.d. Banja Luka, which were owned by the company “R&S Company” d.o.o. from Prnjavor. The transaction took place through the authorized stockbroker Monet broker from Banja Luka, with whom the Authority has a signed Agreement on stockbroking. The total number of shares traded amounts to 91,688 shares. The sale was carried out within regular stock exchange trading at the last market price achieved on the Banja Luka Stock Exchange, which amounts to 1.16 KM - said the ITA.

The total value realized from this transaction amounts to 106,358.08 KM. After the first collection of debt based on indirect taxes through the sale of securities, the Indirect Taxation Authority will continue to use this enforcement method in the future, both on the Banja Luka and Sarajevo Stock Exchanges.

- Since the beginning of the application of the VAT Law in BiH, i.e. from January 1, 2006, until April 2015, the debt based on reported but unpaid VAT amounted to 887 million KM. In addition, the subsequent enforcement burden amounted to 80 million KM. Of the total amount of debt and subsequent enforcement burden, 645 million KM has been collected to date, so the current debts amount to 322 million KM, owed by 10,640 taxpayers from BiH. These current debts are in the further enforcement procedure. The debt collection rate is 66.7% - explain from the Authority.

Over the period 2006 – April 2015, the ITA calculated a total of 78 million KM in default interest, and to date 57 million KM in default interest has been collected, which amounts to 0.04% on the principal debt each working day. In 2015, a total of 33,408,484.42 KM was collected in the enforcement procedure.