Adoption of the new Law on Domestic Payment Transactions
Tax news, June 2015.
The Ordinance on promulgation of the Law on Domestic Payment Transactions (hereinafter “Law”) was published in the Official Gazette of FBiH, no. 48/15 on the 24th June 2015. The Law enters into force as of the 2nd July 2015.
The Law regulates domestic payment transactions in the Federation of Bosnia and Herzegovina, determines participants and organisations authorized to perform transactions of domestic payments, defines types of accounts, methods and forms of payments, enforcement of payments and enforced collection from accounts, treatment, rights and obligations of participants in domestic payment transactions.
By entrance into force of this Law, the Law on Financial Operations („Official Gazette of FBiH“, no. 2/95, 13/00 and 29/00) shall cease to apply.
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