In August, 979 million BAM collected from indirect taxes, a record since the Indirect Taxation Authority of BiH was established

(Patria) - The Indirect Taxation Authority is recording new record revenues from indirect taxes, with the highest monthly revenue collected in August 2023 since the establishment of the institution, amounting to 979 million BAM.

Cumulatively, revenues from indirect taxes in the first eight months of 2023 amounted to 6 billion and 931 million BAM, an increase of 495 million BAM or 7.69% compared to the same period in 2022, when they amounted to 6 billion and 436 million BAM.

In the period January-August 2023, the ITA returned 1 billion and 454 million BAM in VAT refunds to the economy, so the net collected revenues distributed to beneficiaries in the period January-August 2023, namely the state, entities, and Brčko District, amounted to 5 billion and 477 million BAM, an increase of 407 million BAM compared to the revenues received by beneficiaries from the Single Account for the same period in 2022.

For the financing of state institutions in the period January-August 2023, an amount of 679 million BAM was allocated. The remaining collected indirect tax revenues went to the entities and Brčko District. Thus, the Federation of BiH received 2 billion and 982 million BAM from the Single Account, Republika Srpska received 1 billion and 614 million BAM, and Brčko District received 165 million BAM.

Based on the special toll for highway construction and the construction and reconstruction of other roads (0.25 BAM), the Federation of BiH received an additional 141 million BAM, Republika Srpska received 93 million BAM, and Brčko District received 4.8 million BAM. The difference represents a reserve in the special toll account of 0.25 BAM.