Record revenues collected by Indirect Taxation Authority in August

In August 2017, the Indirect Taxation Authority collected BAM 680 million, which is BAM 66 million more compared to August last year and represents the largest amount of indirect tax revenues collected in a single month since the ITA was established.

In the first eight months of 2017, the ITA collected a total of BAM 4 billion and 589 million, which is BAM 321 million or 7.53 percent more compared to the same period in 2016, when the amount was BAM 4 billion and 267 million.  

REVENUE DISTRIBUTION FOR THE PERIOD JANUARY-AUGUST 2017

After tax refunds to taxpayers, which amounted to BAM 850 million in the first eight months of 2017, net collected revenues distributed to beneficiaries in the period 01.01.-31.08.2017, namely the state, entities, and Brčko District, amounted to BAM 3 billion and 739 million, and are BAM 183 million higher compared to the revenues received by beneficiaries from the Single Account in the same period of 2016.

ITA REVENUE GROWTH COVERED THE INCREASE IN EXTERNAL DEBT IN 2017

For the financing of state institutions in the period 01.01.-31.08.2017, the amount of BAM 499 million was distributed. The Federation of Bosnia and Herzegovina received BAM 2 billion and 80 million. Republika Srpska received a total of BAM 1 billion and 57 million. Brčko District received BAM 115 million. The growth in indirect tax revenues covered the increase in external debt installments in 2017, so it is expected that by the end of the year, entities will directly receive more money from indirect taxes into their accounts compared to last year.