The “Amendments of Law on VAT – Introducing the System of Charging VAT upon the Collection of Receivables” round table will be held on March 10, 2016 at “Sarajevo” Hotel in Sarajevo.
The aim of organizing the Round Table is to present the need for changing the Law on Value Added Tax in Bosnia and Herzegovina and incite discussion between the relevant actors for improving the proposal for amendment.
In accordance with the Law on Value Added Tax, the tax payers are obliged to file a report and pay the VAT from the 1st to the 10th of the month on completion of the tax period, regardless of whether they charged for their service-based payments or not. Thus the employers with long periods for service-charging are faced with difficulties in conducting business, because they are primarily obliged to pay the tax obligations of this type, even though they have not charged for their products and services. This, finally, makes numerous business subjects insolvent. Due to the stated reasons, and for the purpose of assisting the economy through improvements of the existing business management conditions, the Institute for Youth Development KULT, together with the members of the Network for creating a better business environment in BiH, advocates for changes of the Law on Value Added Tax, according to which the tax payers would pay the VAT after charging for the conducted service or delivered merchandise, and not after issuing an invoice.
Representatives of the executive and legislative power, economy, academic and non-governmental sector will participate at the Round Table, along with representatives of other relevant organizations and institutions.
The Round Table will be organized as a part of the “BH Business Site” initiative, managed by the Institute for Youth Development KULT and which is the part of Civil Society Sustainability Project in Bosnia and Herzegovina (CSSP), realized by the Centers of Civil initiatives (CCI) and the Center for Promoting the Civil Society (CPCD) and supported by the US Agency for International Development (USAID).