The Indirect Taxation Authority (ITA) of Bosnia and Herzegovina collected 1.073 billion BAM in indirect taxes in July, marking an increase of 122 million BAM compared to July 2023.

“This is the first time since the establishment of ITA that collected revenues from indirect taxes have exceeded one billion BAM in a single month,” stated UIO BiH.

According to the announcement, the revenues from indirect taxes for the first seven months of 2024 amounted to 6.495 billion BAM, which is an increase of 543 million BAM or 9.12% compared to the same period in 2023, when the amount was 5.952 billion BAM.

ITA refunded 1.196 billion BAM to businesses over the first seven months of 2024.

The net collected revenues distributed to the users—state, entities, and Brčko District—over the first seven months of 2024 amounted to 5.299 billion BAM, which is an increase of 619 million BAM compared to the revenues distributed from the Single Account over the same period in 2023.

For the financing of state institutions, 592 million BAM was allocated over the first seven months of 2024. The majority of indirect tax revenues, along with all collected surplus revenues, were allocated to the entities and Brčko District. Thus, the Federation of BiH received 2.894 billion BAM, Republika Srpska 1.621 billion BAM, and Brčko District 162.5 million BAM over the first seven months of 2024.

Additionally, based on a special road tax for the construction and reconstruction of highways and other roads (0.25 BAM), the Federation of BiH received an additional 132 million BAM, Republika Srpska 87 million BAM, and Brčko District 4.5 million BAM, as stated in the announcement.