The Ministry of Finance and Treasury of Bosnia and Herzegovina has initiated the procedure for amendments to the VAT Law, the aim of which is to exempt from VAT the purchase of the first real estate for all natural persons of legal age, said the relevant minister, Srđan Amidžić.
“This relief meant that buyers were exempted, that is, they had the right to a refund of VAT related to 40 square meters of residential property for the buyer and an additional 15 square meters for each of the household members who did not exercise the right to exemption, a refund for the purchase of the first apartment,” said Amidžić.
Amidžić said that this proposal was submitted for consideration to the ministries of finance of the Republic of Srpska and the Federation of BiH, the Indirect Taxation Administration (ITA) of BiH, and the Department for Macroeconomic Analysis of the ITA of BiH.
