On March 10th, the House of Representatives of the Parliamentary Assembly of Bosnia and Herzegovina adopted the Draft Law on Amendments to the Law on Value Added Tax, which was previously proposed in late February by one of the political parties.
The proposal was considered in an urgent procedure, and the changes concern certain food products and many luxury items. The current VAT rate in Bosnia and Herzegovina is 17% percent on all products, regardless of whether they are basic or luxury, therefore these changes are important to note.
In Bosnia and Herzegovina, a Draft law that amends the Law on Value Added Tax was adopted by the Parliament
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Federation of Bosnia and Herzegovina
Author: Kristina Dosen
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Content accuracy validation date:
18.03.2022
Content accuracy validation time:
08:01h
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The changes from this regulation would include lowering the VAT rate for the supply of goods and services and the import of goods namely:
- medicines,
- flour,
- bread obtained from all types of flour,
- milk and dairy products,
- edible oils,
- edible animal fats and of plant origin,
- sugar and
- homogenized baby food.
for which a reduced VAT rate of 5% will apply.
On the other hand, the changes stipulate a higher VAT rate for:
- high-quality wines and alcoholic beverages,
- high-quality cigarettes and cigarillos,
- luxury perfumes, clothing and footwear with accessories, utensils for use and production utensils luxury vehicles, works of art, weapons and so on which are to be taxed at a higher VAT rate of 22%.
However, in order for the adopted changes to enter into force, it is necessary for it to be adopted by the House of Peoples of the Parliament of Bosnia and Herzegovina. According to current announcements is not yet clear when that could happen.
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