BUSINESS

A record Year in terms of Taxpayer Payments in BiH

At a time of difficult economic, political-social, and health conditions in our country, the Tax Administration of the Federation can boast of doing extremely well. Last year was a record year for this institution when it comes to taxpayers’ payments, which amount to more than 5 billion and 600 million BAM.

Given that the capacity of the tax system determines the capacity of the state, by regular tax payments, taxpayers expanded, increased, and strengthened the state capacity and thus contributed to providing conditions for a better life for all citizens.

“This is the largest amount of paid public revenues from the jurisdiction of the Tax Administration since it exists. If we compare the payments of public revenues in this and previous years, we can conclude that the collection of public revenues in 2021 is higher than the previous year by slightly more than 485 million or 9.44 percent, ” noted Serif Isovic, Director of Tax Administration of the Federation of Bosnia and Herzegovina (FBiH).

The filling of the state treasury was also ensured by increasing the number of fiscal devices, the number of misdemeanor orders, as well as the debt on payment orders. The Federal Tax Administration stated that it will continue activities to reduce the gray economy and increase tax discipline.

“We urge taxpayers to fulfill their tax obligations in a timely manner because it is the safest way for them to do business and it is much better to direct the money they would spend on fines or interest for their development, investments, and salaries to workers.” Isovic pointed out.

In the end, Isovic emphasized special gratitude to the citizens who submitted more than 1.000 reports in 2021 and helped with their information in discovering various forms of irregularities. Therefore, FBiH Tax Administration calls on citizens to report non-compliance with tax laws, employment of unregistered workers, non-issuance of fiscal invoices, and other corrupt acts.

E.Dz.

Source: Federalna

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