951 million KM collected from indirect taxes in July, the highest amount since the establishment of the ITA BiH

(Patria) - The Indirect Taxation Authority of BiH records record revenues from indirect taxes, so in July 2023, the highest monthly revenue amount since the establishment of the institution was collected, as much as 951 million KM.

Cumulatively, revenues from indirect taxes in the period January-July 2023 amounted to 5 billion and 952 million KM and are higher by 422 million KM or 7.63% compared to the same period in 2022 when they amounted to 5 billion and 530 million KM.

In the period January-July 2023, the ITA returned 1 billion and 272 million KM of VAT refunds to the economy, so the net collected revenues that went to the distribution to beneficiaries in the period January-July 2023, namely the state, entities and Brčko District, amounted to 4 billion and 679 million KM and are higher by 329 million KM compared to the revenues that beneficiaries received from the Single Account for the same period in 2022.

For financing state institutions in the period January-July 2023, an amount of 587 million KM was allocated. The largest part of indirect tax revenues ended up with the entities and Brčko District. A total of 2 billion 540 million KM was allocated to the Federation of BiH, 1 billion and 376 million KM to the Republika Srpska, and 141 million KM to Brčko District.

Based on the special toll for the construction of highways and the construction and reconstruction of other roads (0.25 KM), the Federation of BiH received an additional 120 million KM, the Republika Srpska 79 million KM, and Brčko District 4 million KM. The difference represents a reserve in the special toll account in the amount of 0.25 KM.