Amendments to the Decision on Taking Out Foreign Cash and Checks

Tax news, May 2017

Decision on the Amendments to the Decision on Taking Out Foreign Cash and Checks (“Decision”) was published in the “Official Gazette of FBiH”, number 38/17 on 24 May 2017.

Decision enters into force as of the day of publishing, i.e. on 24 May 2017.

Novelties introduced by the Decision are as follows:

  • When crossing the state border, physical entities shall be obliged to report to the customs officer, besides the amount of domestic or foreign cash and checks, also the securities or other physically portable payment instruments, as governed by the act regulating the prevention of money laundering and terrorism financing (i.e. payment orders, bonds). Taking foreign cash and checks out of the country exceeding EUR 10,000, shall be reported by means of a prescribed form;
  • Resident physical entity, when crossing the state border, may take out of the country foreign cash and checks up to the amount of EUR 10,000 (i.e. in comparison to previously applicable Decision – the amount which resident physical entity may take out from the country is increased from EUR 2,500 EUR to EUR 10,000).

The purpose of the adoption of the Decision is, among other, fulfilment of the liabilities stated within BiH Action Plan for Removal of Deficiencies in the Fight Against Money Laundering and Terrorism Financing, which shall contribute to the elimination of BiH from the FATF's "Gray List".


If you have any questions concerning this publication, please do not hesitate to contact us:

Samir Hadžić
Tax & Legal Practice
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Emir Ibišević
Senior Manager
Tax, Legal & BPS Services
T: +387 (0)33 277 560
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