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Reading: BiH sees Record in Revenues from the Indirect Taxes
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Sarajevo Times > Blog > BUSINESS > BiH sees Record in Revenues from the Indirect Taxes
BUSINESS

BiH sees Record in Revenues from the Indirect Taxes

Published June 4, 2024
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Revenues from indirect taxes in the first five months of 2024 amounted to four billion and 497 million BAM and are higher by 407 million BAM or 9.95 percent compared to the same period in 2023 when they amounted to four billion and 90 million BAM.

In the first five months of 2024, the Indirect Taxation Authority (ITA) returned BAM 869 million to the economy. The net collected revenues that were distributed to users in the first five months of 2024, namely the state, entities and the Brcko District, amounted to 3 billion and 627 million BAM and are higher by 467 million BAM compared to the revenues from the Single accounts received by users for the same period in 2023.

In May 2024, 894 million BAM indirect taxes were collected, which is 9 million BAM more than in May 2023.

An amount of 420.9 million BAM has been allocated for the financing of state institutions in the first five months of 2024.

The largest part of the income from indirect taxes, as well as all the collected excess income, ended up with the entities and Brcko District. Thus, in five months of 2024, 1 billion and 960 million BAM was allocated to the Federation of Bosnia and Herzegovina (FBiH), 1 billion and 97 million BAM to theRepublika Srpska (RS), and 109 million BAM to the Brcko District.

The total allocated funds to the entities and the District of Brcko BiH with the associated external debt for the first five months of 2024 compared to the same period last year were presented.

Amounts for repayment of external debt are deducted before distribution of income to beneficiaries. All amounts are expressed in millions of BAM.

In addition to the distributed revenues, based on the special toll for the construction of highways and the construction and reconstruction of other roads (0.25 BAM), the FBiH received an additional 92.2 million BAM, the RS 60.9 million BAM and the Brcko District 3.1 million BAM. The difference represents a reserve in a separate account for tolls in the amount of 0.25 BAM.

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