Act on amendments on the Act on penalty interest on public revenues
Tax news, November 2015.
Amendments of the Act on Penalty Interest on Public Revenues were published in the “Official Gazette of FBiH”, number 86/15, dated 6 November 2015. Amendments entered into force on 7 November 2015.
Essential novelties of the Amendments are:
- They also refer to public revenues which are prescribed by cantonal regulations and by regulations adopted by local government authorities;
- Interests which arose on the basis of due and reported but uncollected public revenues as on 31 December 2014, will be written off in the amount that is prescribed by these Amendments, if the taxpayer pays all main debt obligations no later than 30 June 2017;
- Interest write-off includes both calculated and accrued penalty interest, on the basis of Deferred Payment and Payment in Instalment Agreement – concluded by the taxpayer and the Tax Authority, however the obligation to pay calculated costs of enforced collection still exists;
- If the applicant of interest write-off pays their main debt obligation until 31 December 2016, whole amount of their calculated interest shall be written-off. In case the applicant pays the main debt in the period from 1 January 2017 to 30 June 2017, 50% of calculated interests shall be written-off.
If you have any questions concerning this publication, please do not hesitate to contact us:
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Manager | Tax & Legal Practice
Deloitte Advisory Services d.o.o.
Jadranska bb, 71000 Sarajevo, Bosnia and Herzegovina
Direct: +387 33 277 560 | Fax: +387 33 277 561 | Mobile: +387 61 396 047
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