Record: 1.491 billion BAM collected from taxes in the first three months of 2016

The Indirect Taxation Authority of BiH collected 1 billion and 491 million BAM in indirect taxes in the first three months of 2016, which is 48 million BAM or 3.34% more compared to the same period in 2015.

In March 2016 alone, the ITA collected a record 520 million BAM in indirect taxes, which is the highest amount of revenue collected in the month of March since the establishment of the Authority.

After VAT refunds to taxpayers, which amounted to 250 million BAM in the first three months of 2016, the net collected revenues distributed to beneficiaries during 2016, namely the state, entities, and Brčko District, amounted to 1 billion and 241 million BAM, and are 58 million BAM higher compared to the revenues received by beneficiaries from the Single Account in the same period of 2015.

An amount of 185 million BAM was allocated for the financing of state institutions in the first three months of 2016, identical to several previous years. The remaining funds went into the entity treasuries: a total of 664 million BAM to the Federation of BiH, 346 million BAM to Republika Srpska, and 37 million BAM to Brčko District.