In Bosnia and Herzegovina starting January 1, 2016, new prices of cigarettes are in effect.
Indirect Taxation Authority (ITA) reminded that the manufacturers and distributors of cigarettes were obliged provide new retail prices of cigarettes until November 30, 2015, to the ITA which will be effective from the beginning of 2016, and which have been determined in accordance with Decision on establishing special and the minimum excise duty on cigarettes and amount of excise tax on smoking tobacco in 2016, which was recently adopted Governing Board of the Indirect Taxation Authority.
Decision on establishing special and minimum excise duty on cigarettes and amount of excise tax on tobacco for smoking in 2016 defined that from January 1, 2016, the excise tax on cigarettes is paid as follows: proportional excise duty at the rate of 42 percent of the retail price of cigarettes and a special excise tax in the amount of 60 BAM for 1,000 units or 1,20 BAM for packaging of 20 pieces.
If the total taxes on cigarettes (proportional + special), which is calculated according to these rates, is less than minimum excise duty, then the minimum excise duty is paid in the amount of 2.23 BAM per pack of cigarettes for a pack of 20 pieces.
The excise tax on tobacco for smoking in 2016 shall be determined in a way to amount to 80 percent of the minimum excise tax on cigarettes in 2016 and to amount to 89,20 BAM per kilogram. The decision represents a continuation of harmonization of excise policy in B&H with the excise policy on cigarettes in the European Union.
Taxpayers and other persons engaged in trade of cigarettes and tobacco are obliged to schedule the inventories for the January 1, 2016 and to deliver inventory lists to the responsible Regional Centre of the ITA to January 7, 2016.
(source: akta.ba)
