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Initiative to Change Law on VAT Supported by 25,000 Members of Association of Employers of FBiH PDF  | Print |  E-mail
Written by Amela   
Tuesday, 19 April 2016 08:30

The letter of support for changes of the Law on VAT was signed by representatives of the Association of Employers of FBiH that has around 25,000 members with over 100,000 employees.

The Institute for Youth Development KULT started the initiative of signing a letter of support for the process of introducing changes in the Law on Value Added Tax in Bosnia and Herzegovina.

The letter of support is primarily intended for business owners and in only 5 days, it was signed by over 20,000 business owners gathered around chambers of economy and crafts and by associations that focus on aiding the economy.

 “In a very short time period, the initiative was supported by a great number of business owners. The letters of support are delivered daily, and it is very significant that there are more and more individual letters of business owners. It is an indicator of how necessary the changes of Law on VAT are and of the requirement to create a better business environment for the business owners” – stated Ajka Baručić from the Institute for Youth Development KULT.

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The Institute for Youth Development KULT advocates for introducing changes in the Law on Value added Tax according to which the taxpayers, who earn an annual profit of up to 1,000,000 BAM, would pay the VAT after collecting their receivables and not by the 10th of the month, as the current Law stipulates.

According to the current legal provisions, the employers are obliged to pay their taxes even if they have not collected their receivables yet. This eventually makes many business subject insolvent and often forces them to terminate their business.

In the following period, the Institute will continue gathering letters of support and advocating for changes in the Law on VAT with governmental representatives.

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

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).

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