614 million KM of indirect taxes collected in August

In August 2016, the Indirect Taxation Authority collected a record 614 million KM in indirect taxes, which is 61 million KM more compared to August 2015. This is also the highest amount of indirect tax revenue collected in a single month since the establishment of the Authority.

Indirect tax revenues in the first eight months of 2016 amounted to 4 billion and 267 million KM, which is 124 million KM or 3.00% more compared to the same period in 2015, when they amounted to 4 billion and 143 million KM, Patria reports.

After VAT refunds to taxpayers, which amounted to 711 million KM in the first eight months of 2016, net collected revenues distributed to beneficiaries during 2016, namely the state, entities, and Brčko District, amounted to 3 billion and 556 million KM, which is 135 million KM more compared to the revenues received by beneficiaries from the Single Account in the same period of 2015.

For the financing of state institutions in the first eight months of 2016, an amount of 498 million KM was distributed, identical to the previous few years. The remaining funds went into the entity treasuries: the Federation of Bosnia and Herzegovina received a total of 1 billion and 929 million KM, Republika Srpska 1 billion and 1 million KM, and Brčko District 107 million KM.

Based on the special toll for highway construction (0.10 KM) in the period 01.01.-31.08.2016, the Federation of Bosnia and Herzegovina received an additional 48.5 million KM, Republika Srpska 32.1 million KM, and Brčko District 1.6 million KM. The difference represents a reserve in a special toll account amounting to 0.10 KM.