Financial Inspectorate of the Ministry of Finance and Treasury of BiH to be Introduced

The 53^rd session of the Committee for Finance and Budget of the House of Representatives of the Parliamentary Assembly of BiH was held on Wednesday, June 11, 2014.

The session was attended by all members of the Committee, representatives of the Ministry of Finance and Treasury as the proponent of the amendments for the regulations discussed at this session, Governor of the Central Bank, and guests, including representatives of the project Strengthening Governing Institutions and Processes in BiH (SGIP) and the Institute for Youth Development KULT.

The Committee members discussed the following items on the agenda. 

1. Adopting Minutes from the 52^nd session of the Committee;

2. Discussing the Proposal law on amendments and supplements to the Law on Financing the Institutions of BiH – first committee stage (proponent: Council of Ministers);

3. Discussing the Annual report and Financial reports of the Central Bank of BiH for 2013 (author: Central Bank of BiH).

Members of the Committee for Finance and Budget of the House of Representatives of the Parliamentary Assembly of BiH unanimously adopted the 2013 Annual and Financial reports of the Central Bank of BiH. The report is available on the official website of the Central Bank of BiH.

The purpose of the Proposal law on supplements and amendments of the Law on Financing the Institutions of BiH is the introduction of inspection control, conducted by the Ministry of Finance and Treasury through the Financial Inspectorate and under the management of a Financial Inspector, whose rank would equal that of Assistant Minister. The proposal law was adopted without the support of SNSD, because the proponent had not consulted competent ministries at entity level. 

Proposals for amendments and supplements to the Law on Value Added Tax and Law on Indirect Taxation will be discussed during one of the following sessions, when the Committee members have at their disposal the opinion and attitude of the Indirect Taxation Authority. After a two-month waiting period, the Committee will request the opinion of the Indirect Taxation Authority on these amendments and supplements.