Bosnia & Herzegovina/August 2015
On June 16th 2015, in accordance to Articles 7 and 8 of the Law on Indirect Taxation System in BIH (Official Gazette No. 44/03, 52/04, 34/07, 4/08, 49/09 and 32/13) in conjunction with Article 25 of the Law on the Indirect Taxation Authority (Official Gazette 89/05) the Director of Indirect Taxation, with prior approval of the Boards of Directors, issued a Decision on the threshold for large VAT tax payers.
This Decision determines the period and prescribes the conditions which serve as a criterion for determining which indirect tax payers will have the status of “large indirect tax payers”.
According to The Decision, for the period 2015-2017, taxpayers will be classified as large taxpayers if their total annual amount of VAT (sum of input and output VAT) is equal to or exceeds 1.5 mil BAM (about EUR 766,938.00). Furthermore, the compliance control of large VAT taxpayers will be carried out at the Indirect Taxation premises.
This Decision entered into force on July 1st 2015.
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