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Reading: BiH collected 680 million BAM of VAT Debt
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Sarajevo Times > Blog > OUR FINDINGS > OTHER NEWS > BiH collected 680 million BAM of VAT Debt
OTHER NEWS

BiH collected 680 million BAM of VAT Debt

Published: October 13, 2016
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Diaspora Money magazin.baFrom one billion BAM, which was the amount of accumulated debt of VAT of more than 2,500 legal entities to the state and that was accumulating since the establishment of the VAT system in 2006, the Indirect Taxation Authority (ITA) BiH managed to settle more than 680 million BAM through enforced collection. This was announced by spokesman of ITA BiH, Ratko Kovacevic, who also added that our country got praise from the European Union for such promptness.

He emphasized that this mechanism without compromise is carried out in such a way that each taxpayer has to pay VAT until the 10th of the month. If they delay for only one day, as he says, they automatically enter the enforced collection.

“The publication of the list of tax debtors, for the first time in 2014, was effective since many companies tried to settle their debts in order not to be on this public list. The biggest advantage of the publication of this list, which took place due to amendments to the Law on Indirect Taxation Procedure, is that it came to a greater transparency in all of this,” said Kovacevic.

He emphasized that the ITA is leading a special scheme of tax debtors in order to prevent the accumulation of debts.

Given that these debtors are on the special scheme, explained Kovacevic, companies that work with them must pay VAT directly to the account of ITA instead of their account.

The largest debtor who is on the special scheme is “Petrol” from Ljubuski with 4.8 million BAM of debt. In the second place is “Agrokomerc” from Velika Kladusa with 3.6 million BAM of debt, followed by “Hepok-Vinarija” from Ljubuski with 2, 6 million BAM of debt, “Fruktona” from Banja Luka with a debt of 2.3 million BAM and “Farmer” meat industry from Siroki Brijeg, which owes nearly 2.1 million BAM.

Who are the biggest debtors for VAT?

  • KJKP GRAS Sarajevo – 17 million BAM
  • MB “Kekerovic” Laktasi – 10,7 million BAM
  • Directorate for Commodity Reserves RS – 9,3 million BAM
  • “Dusa” d. o. o. Fojnica – 8,5 million BAM
  • “Janus” d. o. o. Brcko – 7,5 million BAM
  • “Mass” Bijeljina – 5,8 million BAM
  • “Elipsa” Posusje – 5,7 million BAM
  • “Osmex” Sarajevo – 5,4 million BAM
  • “Petrol” Ljubuski 4,8 million BAM
  • “Janjos” Prijedor – 4,5 million BAM

(Source: hayat.ba)

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TAGGED:#BiH#debt#VATenforced collectionthe Indirect Taxation Authority
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