All Prepared to Introduce VAT in B&H
All Prepared to Introduce VAT in B&H
Kemal Causevic, Director of the Bureau of Indirect Taxes (UINO) of Bosnia and Herzegovina, announced yesterday that all technical and administrative preparations to introduce the Value Added Tax (VAT) were completed.
Causevic did not comment on the possibility for the collection of VAT to not start on January 1 if the 2006 Budget of the Republic of Srpska is not adopted. He said that it was not within UINO authority and scope of work, having in mind that the Bureau just implements the Law, which states that VAT enters into force on January 1.
He reminded that the B&H Parliamentary Assembly adopted all 11 laws necessary for implementation of VAT, the officials and employees’ training has been completed and that he doesn’t expect any problems with the business entities regarding the new manner of tax collection.
Dinka Antic, Head of UINO’s Department for Macro-Economic Analysis, repeated the that the projected collection of taxes for 2006 has been set at 3.5 billion KM, 1.8 billion from the VAT.
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