UIO BiH: 7.3 billion BAM in indirect taxes expected in 2018

BANJA LUKA, (Patria) - The Indirect Taxation Authority collected 568 million BAM in indirect taxes in January 2018, which is 85 million BAM more compared to January 2017, when revenues from VAT, excise duties, customs, and road tolls amounted to 483 million BAM.

The distribution of revenues from the UIO Single Account is carried out in accordance with the Law on Payments to the Single Account and Revenue Distribution and the Decision on Coefficients for Revenue Distribution to Entities, adopted by the UIO Management Board.

After the UIO returned 116 million BAM to the economy in January 2018 for VAT refunds, the distribution of revenues from the Indirect Taxation Authority's Single Account in January was for financing state institutions, according to entity ministries of finance and the Brčko District Finance Directorate. Thus, in January, 61 million BAM was allocated for financing state institutions, while the remaining funds were distributed as follows: a total of 244.5 million BAM to the Federation of BiH, 122.5 million BAM to Republika Srpska, and 13.5 million BAM to Brčko District.

We remind you that in 2017, the UIO collected record revenues from indirect taxes, which amounted to 7 billion and 44 million BAM. In 2018, an even more ambitious plan has been set for the UIO, according to which the Authority should collect 7 billion and 342 million BAM in indirect tax revenues.