Signing Letter of Support for Introducing Changes in Law on VAT Initiative

The Institute for Youth Development KULT continues the process of advocating for changes in the Law on VAT.

In order to intensify the process of introducing changes in the Law on VAT, an initiative of signing the letter of support to the process of introducing changes in the Law on Value Added Tax in Bosnia and Herzegovina was presented.

The letter of support is primarily intended for business owners that would achieve positive business results by introducing the alleviation to pay the VAT after collecting their receivables, but it is also intended for organizations that focus on aiding the economy and that are expected to support the initiative.

In order to describe the burden of the current condition and disadvantages of the business environment, the Institute for Youth Development KULT made the following video: 

By signing the support letter, business owners and organizations that operate in the area of economy have the opportunity to support the initiative that is being advocated by the Institute for Youth Development KULT, and thus directly influence the development of a positive business environment.

The letter of support is also available on the following link: www.podrzi.poslovniprostorbh.org

According to the current Law, all taxpayers are obliged to pay the VAT by the 10^th of the month, which is a particularly aggravating circumstance for small and medium businesses that are often forced to terminate their activities due to such regulations.

In the beginning of March, the Institute organized the Round Table on topic “Amendments and Supplements of the Law on VAT – Introducing the system of taxation according to collected receivables” in order to emphasize this problem, during which experts expressed their opinions, and the Institute continues advocating the changes through intensive discussions with governmental representatives.

The Institute for Youth Development KULT, in the last 15 years of its work, has been successfully working on development and implementation of legal solutions that contribute to improvement of the social position of youth and citizens in general. Considering that the economic issues are the source of most youth problems, the Institute vehemently advocates for the activities and initiatives related to creating a better business environment in BiH, not just for youth, but for all business owners.

Advocating for the changes in the Law is conducted 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).