Over 20,000 Business Owners Want Changes to the VAT Law

 

To intensify the process of amending the VAT Law, the Institute for Youth Development KULT has launched an initiative to sign a letter of support for the process of amending the VAT Law of Bosnia and Herzegovina, it was announced from KULT, as reported by the Patria news agency.

The letter of support is primarily intended for business owners, and in just five days it was signed by more than 20,000 business owners gathered around chambers of commerce and crafts, as well as associations focused on aiding the economy.

The Institute for Youth Development KULT advocates for amendments to the Value Added Tax Law under which taxpayers would pay VAT after collecting their receivables, rather than by the 10th of the month, as the current law stipulates.

The current legal regulations create a business environment in which small and medium-sized enterprises often cease operations, making amendments necessary.

To best describe the severity of the current situation and the shortcomings of the business environment, the Institute for Youth Development KULT has produced a video that can be viewed and downloaded at the link: http://mladi.org/url/teret2

The Institute will continue in the coming period to collect letters of support, as well as to advocate for amendments to the VAT Law with government representatives.

The letter of support is available on the web portal: www.podrzi.poslovniprostorbih.org

Over its fifteen years of existence, the Institute for Youth Development KULT has worked very successfully on drafting and implementing legal solutions that contribute to improving the social position of young people, as well as citizens in general. Given that economic issues are the source of most problems for young people, the Institute strongly advocates for activities and initiatives aimed at creating a more favorable business environment in BiH, not only for young people but for all entrepreneurs.

The advocacy for amending the VAT Law is carried out within the framework of the initiative "Business Space BH", led by the Institute for Youth Development KULT. The initiative is part of the Civil Society Sustainability Project in Bosnia and Herzegovina (CSSP), implemented by the Centers for Civic Initiatives (CCI) and the Center for the Promotion of Civil Society (CPCD), and supported by the United States Agency for International Development (USAID), the statement reads.