BUSINESS

Official: Excise Duties on Fuel and Alcohol increased?

12784260_1734111373492206_302307408_nWhen the entity prime ministers started an initiative to increase the excise duties last year, the public and the citizens disapproved this idea. They, as well as the opposition, considered this as new, big impact on the standard of citizens.

Despite the disapproval, the initiative was adopted, and the Governing Board of the Indirect Taxation Authority (ITA) prepared amendments to the Law on Excise. The increase in excise duties on oil and oil products, auto-gas, beer and alcoholic drinks is predicted. How much additional money will be collected, is not accurately known yet. However, it is known that the largest share of annual revenue have excise taxes on tobacco and oil.

Proposal of the Board of the ITA is that the excise tax on oil and petroleum products get increased by 15 fennings, while it was decided that tolls that are amounting to 25 fennings per liter to be used for the construction of highways and other roads.

Chairman of the Council of Ministers Denis Zvizdic emphasized that they will first increase excise duties on oil and oil products, and only when entities adopt strategic plans for reforming the healthcare system, and only then the increase in excise duties on tobacco and alcoholic drinks will take place.

Mirko Sarovic, Minister of Foreign Trade and Economic Relations, recalled that in the context of the Reform Agenda is clearly stated – when it comes to increasing the excise tax on alcohol and tobacco, it is necessary to reform the health sector before that.

(Source: akta.ba)

 

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