Further growth of income from indirect taxes
The Indirect Taxation Authority (ITA) registered new record revenues from indirect taxes, so in August 2023, the highest monthly amount of revenue was collected since the establishment of the institution, as much as BAM 979 million.
Cumulatively, revenues from indirect taxes in eight months of 2023 amounted to BAM 6 billion and 931 million and are higher by BAM 495 million or 7.69% compared to the same period in 2022 when they amounted to BAM 6 billion and 436 million.
In the period January-August 2023, the ITA returned to the economy BAM 1 billion and 454 million in VAT refunds, so that the net collected revenues were distributed to users in the period January-August 2023, namely the state, entities and Brčko District, amounted to BAM 5 billion and 477 million and are higher by BAM 407 million compared to the income that users received from the Single Account for the same period in 2022.
DISTRIBUTION OF INCOME IN THE PERIOD JANUARY-AUGUST 2023
An amount of BAM 679 million has been allocated for the financing of state institutions in the period January-August 2023. The rest of the collected revenues from indirect taxes ended up with the entities and Brčko District. Thus, the Federation of Bosnia and Herzegovina received BAM 2 billion 982 million from the Single account, Republic of Srpska BAM 1 billion 614 million and Brčko District BAM 165 million.
In the table below, we present the total allocated funds to the entities and the District Brčko BiH with the associated external debt in the period January-August 2023 compared to the same period last year. All amounts are expressed in millions of BAM.
|Assigned||External debt||Assigned||External debt||Assigned||External debt|
|(mill. BAM)||(mill. BAM)||(mill. BAM)|
In addition to the distributed revenues in the table above, based on the special toll for the construction of highways and the construction and reconstruction of other roads (BAM 0.25), the Federation of BiH received an additional BAM 141 million, the Republic of Srpska BAM 93 million and the Brčko District BAM 4.8 million. The difference represents a reserve in a separate account for tolls in the amount of BAM 0.25.