The House of Peoples of the Parliamentary Assembly of Bosnia and Herzegovina today unanimously adopted the Law on Amendments to the Law on Value Added Tax, proposed by the House of Representatives PSBiH, which defines the increase in the threshold for mandatory registration from the existing 50,000 to 100,000 BAM.
In the explanation of the proposed law, it is stated that the reason for increasing the limit for registration of taxpayers from 50,000 BAM to 100,000 BAM is an obvious need, given the inflationary trends and price increases of goods and services in the past period, as well as the forecast of economic trends for the next period.
The Finance and Budget Committee of the House of Peoples supported, in the second committee stage and without amendments, the proposal of that law.
The Minister of Finance and Treasury of Bosnia and Herzegovina, Srđan Amidžić, said on Wednesday that he expects the House of People to adopt the proposed amendments to the VAT Law, which will give relief to more than 6,200 taxpayers.
The delegate in the Club of the Croatian People, Zlatko Miletić, said during the discussion that he had received information from the competent administration that the VAT payment date could possibly be moved to the 20th of the month.
“If it is possible, in the context of this proposal that we had as part of this point, which was taken down, when there is the next opportunity, to try to meet the businessmen, to postpone it by 20 days. That would be of great benefit to them,” said Miletić.
Namely, in the original proposal to amend the VAT law, it was stipulated that VAT is paid on the last day of the month, and not on the 10th of the month, as is the case now. However, in the final bill that was submitted to the House of Peoples, through amendment action in the House of Representatives, that part was deleted.
The delegate in the Club of the Serbian People, Želimir Nešković, said that he regretted that the amendment was acted in such a way that the law, as proposed in the first text, did not include the fact that the VAT report is not due at the end of the month, but will be by on the tenth day of the month, as was the case until now.
“I think that a certain shift and progress has been achieved when it comes to the VAT law, precisely because we have reached the point of entry into the VAT system with the amount of 100,000 BAM from the limit of 50,000 BAM – Nešković said.
Radovan Kovačević, a delegate in the Club of the Serbian People, said that he was glad that the delegates had the opportunity to vote for this bill today.
”Last time, we explained that, for certain political reasons, we were voting against. We are glad, if today with this law we will save one company or one workplace, and that means we have done a good job,” said Kovačević.
The Chairman of the House of Peoples, Kemal Ademović, said that he sees that there is a good mood to adopt such a life law, “so that everyone understands it, that it is necessary for the citizens and businessmen of BiH”.
Ilija Cvitanović, a delegate in the Club of the Croatian People, said that he would support the proposed law.
“This is one small step, but an indicator that even these laws, such as the Value Added Tax Act, that there is room and opportunity for that part to be changed and improved,” said Cvitanović.
