The Institute for Youth Development KULT started the initiative of signing the letters of support to the process of amendments to the Law on VAT of BiH, in order to intensify the process of amendments to the Law on VAT.
The letter of support is primarily intended for businessmen, and since the beginning of the initiative, it was signed by more than 20,000 businessmen gathered around the economic and trade chambers and associations that have the help of the economy in the focus of their work.
“The initiative was supported by a large number of businessmen in a very short period of time. Letters of support are coming every day, and it is very important that there is more and more individual letters from businessmen. This is an indication of how really necessary amendments to the Law on VAT are, and how many businessmen want a better business environment,” said Ajka Barucic from the Institute for Youth Development KULT.
The Institute for Youth Development KULT advocates for amendments to the Law on VAT according to which taxpayers, those who have an annual income up to one million BAM, would pay VAT after collect their claims, rather than on the 10th of the month, as the current law prescribes.
According to current legal provisions, employers are required to pay VAT, although they did not collect their claims. This ultimately makes many businesses illiquid, and often leads to discontinued operations.
The Institute will continue to collect letters of support in the future, and advocate amendments to the Law on VAT with the government representatives.
(Source: klix.ba)
