taxes & co
TRANSCRIPT
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Bosnia and HerzegovinaBosnia and HerzegovinaTaxes and Co.Taxes and Co.
Ika Ferrer Gotic, dipl. ecc.Ika Ferrer Gotic, dipl. ecc.Business Analyst & TV PresenterBusiness Analyst & TV Presenter
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AgendaAgenda
01 Political structure02 Tax system structure: Tax divisions03 Basic features of Tax system04 Tax Laws05 Tax system development trends
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Political StructurePolitical Structure
Bosnia & Bosnia &
Herzegovina
Herzegovina
Year 1995: Dayton Agreement
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Tax divisions (1/2)Tax divisions (1/2)
VAT, customs duties, excise,fees for roads,...
Taxes on profits, income, assets,property income, gifts,...
Pension and health insurance,unemployment insurance,...
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Tax divisions (2/2)Tax divisions (2/2)
indirect
taxes
indirect
taxes
admin.
admin.direct taxes
direct taxes
admin.
admin.
direct taxes
direct taxes
admin.
admin.
direct taxes
direct taxes
admin.
admin.
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Basic featuresBasic features
complexed (specific constitutional order); tax laws and executive bodies at multiple levels; divided competence of tax authorities; affiliation of taxes and contributions; disharmonized; incompatible with the systems of other countries in the region.
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Tax system structureTax system structure
The tax system in Bosnia and Herzegovina is based on the regulations that are adopted at different levels of decision making:
State of Bosnia and Herzegovina; Entities - Federation and RS; Brcko District; Cantons and municipalities within Federation
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Tax laws at the State levelTax laws at the State level• Law on Indirect Taxation System in B&H;• Law on Indirect Taxation Administration;• Law on Indirect Taxation Procedure;• Law on Enforced collection procedure;• Law on Customs Policy of B&H;• Law on Customs violations;• Law on Customs Tariff of B&H;• Law on Value Added Tax;• Law on Excise Duties in B&H;• Law on Payments to the Unified Account and income distribution.
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Tax laws at the Federal levelTax laws at the Federal level
• Law on Federal Tax Administration;• Law on Profit Tax;• Law on Income Tax;• Contributions Act;• Law on the Unified system of registration, control and contributions collection;• Law on Fiscal systems;• Law on Games of Chance Law on Rate of penalty interest on the public income.
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Tax laws at the RS levelTax laws at the RS level• Law on Tax procedure of Republic of Srpska;• Law on Profit, Income and Contributions Tax;• Law on Fiscal cash registers;• Law on Real estate;• Law on Property tax;• Law on Games of Chance;• Law on Taxes on use, possession and carrying goods;• Law on Pension / Disability and health insurance;• Regulations on the Unified system of registration, control and contributions collection.
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Tax laws at the Cantonal Tax laws at the Cantonal levellevel• Laws on Property taxes, inheritance and gifts;• Law on Tax on Turnover of real estate and rights.
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Tax on Income in B&HTax on Income in B&H
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Tax on Profit in B&HTax on Profit in B&H
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Development trends (1/3)Development trends (1/3) Developed countries have an income oriented tax system (with a dominant share of taxes on profit and income), but as the global economic crisis manifested itself, consumption taxes (VAT) are being increased, especially in the EU;
Transition countries - more consumer orientation;
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Development trends (2/3)Development trends (2/3)B&H in the overall structure of taxes and contributions on the state level:
46%46%
45%45%9%9%
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Development trends (3/3)Development trends (3/3) Increasing participation of direct taxes in total tax structure that results into growth of the economy;
B&H has showed results that lead to the revenue growth from direct taxes, as a result of a number successfully implemented tax reforms in direct taxation;
Investing in IT is crucial.
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What kind of Tax system What kind of Tax system we wantwe want
Unique / unified - at the state level (long-term solution); Simple - with fewer tax administration; Harmonized at the level of the Entities and BD; Harmonized with the EU tax system; Compatible with systems of other countries.
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[email protected]@fpu.gov.baThank you!Thank you!