Indirect tax revenue falls in April, 511 million KM collected

SARAJEVO, (Patria) - Indirect tax revenues in the first four months of 2020 amounted to 2 billion and 393 million KM, a decrease of 97 million KM or 3.89% compared to the same period in 2019, when they amounted to 2 billion and 490 million KM.

After the Indirect Taxation Authority of Bosnia and Herzegovina (UIO) refunded VAT to the business community in BiH in the amount of 429 million KM in the first four months of 2020, net collected revenues distributed to beneficiaries, namely the state, entities, and Brčko District, amounted to 1 billion and 964 million KM, which is 55 million KM less than the revenues received by beneficiaries from the Single Account in the same period of 2019.

REVENUES COLLECTED IN APRIL 2020

As of March 2020, indirect tax revenues had been growing, but due to reduced economic activity caused by the COVID-19 virus, a 23% drop in revenue was recorded in April 2020, when 511 million KM of indirect taxes were collected, which is 156 million KM less than in April 2019.

REVENUE DISTRIBUTION FOR THE PERIOD JANUARY-APRIL 2020

In the first four months of 2020, 246 million KM was allocated for financing state institutions. A total of 1 billion and 88 million KM was allocated to the Federation of Bosnia and Herzegovina, 556 million KM to Republika Srpska, and 59 million KM to Brčko District.

Based on the special road toll for highway construction and the construction and reconstruction of other roads (0.25 KM), the Federation of Bosnia and Herzegovina received an additional 66.1 million KM, Republika Srpska received 43.7 million KM, and Brčko District received 2.2 million KM. The difference represents a reserve in a special road toll account of 0.25 KM.