New revenue growth from indirect taxes in January

In January 2024, Indirect Taxation Authority collected BAM 869 million in indirect taxes, which is BAM 68 million or 8.42% more than in January 2023, when BAM 801 million were collected.

In January 2024, the ITA returned BAM 168 million of VAT refunds to the economy, so the net revenues that were distributed to users in January 2024, namely the state, entities and Brčko District, amounted to BAM 700 million and are higher for BAM 93 million compared to the income that users received from the Single Account in January 2023.

 DISTRIBUTION OF INCOME IN JANUARY 2024

The distribution of income from indirect taxes is carried out in accordance with the law on payments to a single account and distribution of income, and in accordance with the decisions of the Administrative Board of the ITA on the coefficients for the distribution of income to entities. Thus, in January 2024, an amount of BAM 83 million was allocated from the Single Account of the ITA for the financing of state institutions. The rest of the collected revenues were distributed to the entities and the Brčko District in such a way that BAM 378 million were transferred to the Federation of Bosnia and Herzegovina, BAM 212 million to the Republic of Srpska and BAM 21 million to the Brčko District.

In the table below, we present the total allocated funds to the entities and the District of Brčko BiH with the associated external debt in January 2024 compared to January last year. All amounts are expressed in millions of 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 Bosnia and Herzegovina received an additional BAM 18 million, the Republic of Srpska BAM 11.9 million and the Brčko District BAM 0.6 million. The difference represents a reserve in a separate account for tolls in the amount of BAM 0.25.