The growth of revenues from indirect taxes in BiH for this year is 14.8 percent

14.11.2021. / 9:43

BANJA LUKA – The projected growth rate of revenues from indirect taxes in BiH for this year is 14.8 percent, according to the Department for Macroeconomic Analysis of the Indirect Taxation Authority (ITA) of BiH.

Source: Nezavisne novine

The most important place in indirect taxes has VAT with a projected amount of revenue of 4.35 billion KM or 16 percent more than last year.

The growth projection is based on the movements and projections of macroeconomic indicators, and on the seasonal collection scheme, where it is stated that in September there was a very high growth of net VAT of 30.4 percent, which brought the cumulative growth rate for nine months this year to 18.4 percent.

Revenue from excises for this year is projected at 1.45 billion KM, while the projected revenue from tolls is higher than 650 million KM and both of these projected revenues have an increase compared to last year.

The projected revenue from customs is 307.2 million KM and also has an increase compared to the previous year, with the growth projection based on existing collection trends and trends in imports.

The projected growth rate of revenues from indirect taxes for the next year is three percent, for 2023 it is 2.8 percent, and for 2024 it is 3.1 percent.

The key basis for these growth projections is the projected trends in economic activity in the external environment, where in the period from 2022 to 2024 in BiH is expected an average rate of real economic growth of about 3.5 percent annually.

The bulletin of the ITA Department also states that there are high risks for the realization of projections of revenues from indirect taxes, having in mind the huge unknowns about the strength and duration of the shock caused by the coronary virus pandemic.

The realization of the projected level of revenues from indirect taxes is subject to all risks for the realization of the projected macroeconomic indicators, as well as the risks related to the collection of revenues from indirect taxes.

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Source: Capital.ba – Informacija je capital by www.capital.ba.

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