House of Representatives of the Parliament of FBiH accepted the proposal by the Government of FBiH of an amendment to the Law on Contributions.
“The amendment foresees extension of the deadline for additional 12 months for application of the privileged basis for calculation of contributions to the wage in low-accumulation activities of traditional crafts, mines, textile, leather and footwear industry,” stated the Assistant to the Minister of Finances of FBiH Mira Bradara.
If the House of Peoples approves the proposed amendment, it will enter into force one day after it is published in the Official Gazette of FBiH, when a higher privileged base for calculation of contributions will be prescribed, amounting to 39 percent to the paid net wage which does not exceed 80 percent of the average net wage.
In this way, same deductions for these activities will be maintained, provided that monthly net wages in the amount of 60 percent of the average net wage paid in FBiH are paid.
Moreover, the delegates accepted government’s proposal to amend the Law on the Height of the Penalty Rate, by defining the height of the rate of penalty rate on unsettled debts on the basis of employment in the amount of 0.2 percent per annum on the principal amount defined by enforcement documents (trial verdicts and trial settlements) and out-of-court settlements on the basis of employment.
This amendment must be approved by the House of Peoples of the Parliament of FBiH, which is expected to happen at the session scheduled for Thursday.