Spiric: Amendments to the law for the sake of returning district Brcko to system

Sarajevo – The BiH Minister of Finance and Treasury, Nikola Spiric, said on Monday that the Steering Board of the Indirect Tax Authority /ITA/ reviewed legal solutions for the sake of returning Brcko District to the indirect tax system.

The Board also reviewed a bill amending and supplementing the law on the system of indirect taxation and a bill amending and supplementing the law on payment into the single BiH bank account.

Spiric explained that Brcko District has a fixed coefficient for distribution of funds of 3.55, which is not stimulative, and that the Board proposed that amendments should go into force on January 1, 2015.

Spiric, who is chairman of the BiH ITA Steering Board, said that during the debate today on amendments and supplements to the VAT Law there was no consensus on introducing a so-called zero-rate VAT.

He says that this is election campaign politics, noting that such amendments are not in keeping with European directives.

Spiric and the director of the BiH Indirect Tax Authority, Miro Dzakula, expressed satisfaction with the fact that growth in both gross and net revenues from indirect taxes was recorded in the first three months of the year. (SRNA, TSN)