BUSINESS

Total Gross Revenues hit Record in BiH in 2018!

Director of the Indirect taxation authority of Bosnia and Herzegovina (ITA) Miro Dzakula at the press conference that ITA revenues are funded by all government institutions at all levels in BiH.

“ITA is the key institution responsible for BiH’s fiscal stability,” said Dzakula, emphasizing that this year, it will continue its successful work and develop a business process management strategy.

He pointed out that the total gross revenues in the previous year amounted to 7.6 billion BAM and were higher by 552.5 million compared to 2017, which was a record year.

“The revenues grew at a rate of 7.84 percent, much more than GDP growth and all other macroeconomic indicators in BiH,” emphasized Dzakula, adding that exports from BiH are growing.

Revenue growth was influenced mostly by the increase in VAT, travel and import excises last year, while tax rebate amounted to 1.3 billion BAM.

From 2013 until the end of last year, the total gross income of ITA increased by 4.3 percent on average annually, Klix.ba news portal reports.

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