Bosnia issues first VAT refund decisions for first property purchases

The Indirect Taxation Authority of Bosnia and Herzegovina, headed by Director Zoran Tegeltija, has issued the first decisions approving VAT refunds for the purchase of a first property.

Tegeltija said the implementation was made possible after a technical data exchange system was established with the relevant institutions, CE Report quotes FENA.

“The Banja Luka Regional Centre issued the first decisions yesterday. So far, 1,453 applications for VAT refunds have been received,” Tegeltija said, adding that the largest number of applications was received by the Tuzla Regional Centre, followed by Sarajevo, Banja Luka and Mostar.

Bosnia and Herzegovina’s Minister of Finance and Treasury Srđan Amidžić said he was pleased that the project had entered the implementation phase.

“The rulebook was designed in a way that does not favour the most expensive construction projects. We took all aspects into account,” said Amidžić, who also chairs the Governing Board of the Indirect Taxation Authority of Bosnia and Herzegovina.

Amidžić added that the measure would make life easier for many people.

“I am particularly grateful to the Indirect Taxation Authority, which made significant efforts to ensure all the necessary conditions for VAT refunds,” he said.

The first decisions were received by beneficiaries from Banja Luka and Doboj.

Aleksandra Bejatović from Banja Luka said the funds would come in useful, while Biljana Došlić from Doboj said she was pleased to be among the first applicants to meet the requirements for a VAT refund.

The first payments to beneficiaries will be made on Friday, September 18, while the processing of the remaining applications will continue after checks to determine whether the prescribed conditions have been met.

Photo Indirect Taxation Authority of Bosnia and Herzegovina