Indirect Taxation Authority collects part of debt by selling shares

The Indirect Taxation Authority (UIO) has, for the first time in the Federation of Bosnia and Herzegovina, sold securities (bonds) owned by a tax debtor in the process of forced collection, thereby settling a VAT debt amounting to 190,652.32 KM, reports the BH news agency Patria.

According to the latest debt report, the public company Rudnici ugljena Tušnica d.o.o. from Livno had a principal debt of 178,322.30 KM for unpaid VAT, which, with the applicable statutory default interest, amounted to 190,652.32 KM. This amount was fully collected in April 2016 through the sale of confiscated securities. The sale of confiscated securities was carried out through the company UNIBROKER d.o.o. Sarajevo, with whom the Indirect Taxation Authority has an agreement. A total of 215,000 bonds were sold.

We remind you that during the past year 2015, the UIO had already initiated the forced collection of indirect taxes by selling securities in the territory of Republika Srpska. At that time, the company “R&S Company” d.o.o. from Prnjavor had a total indirect tax debt of 1.7 million KM. In the process of forced collection, the UIO, among other things, registered a pledge with the Central Securities Registry. This involved shares of the issuer Banjalučka pivara a.d. Banja Luka, which were owned by the company “R&S Company” d.o.o. from Prnjavor. The transaction was carried out through the authorized brokerage house Monet broker from Banja Luka, with whom the Authority has signed a brokerage agreement.

The total number of shares traded at that time was 91,688 shares. The sale was conducted within regular stock exchange trading at the last market price achieved on the Banja Luka Stock Exchange, amounting to 1.16 KM. The total value generated from this transaction was 106,358.08 KM. Following the first collection of indirect tax debt through the sale of securities, the Indirect Taxation Authority will continue to use this method of forced collection in the future on both the Banja Luka and Sarajevo stock exchanges.