Speaking at the weekend, the Bosnian Federal Finance Minister, Nikola Grabovac announced new measures designed to aid the clampdown on corporate tax evasion in the country.
At the meeting of the Federation of Bosnia-Hercegovina Economic Chamber, Mr Grabovac announced that from Tuesday, it would no longer be possible to import oil without providing clear evidence that customs and taxes have been paid on it.
He also revealed that tax revenues from some federal cantons have fallen as a result of employers failing to declare their employees for tax purposes. Overall, an estimated total of DM420 million in unpaid taxes is still owing to the government as a result of corporate evasion.
However, the Federal Finance Minister did offer a crumb of comfort to the assembled officials, who included representatives from the IMF, the Office of High Representatives, the Bosnia-Hercegovina Council of Ministers, and various federal authorities and economic associations. Mr Grabovac revealed that although cantonal revenues are down overall, federal budget revenue has increased due to improved customs and tax collection procedures.
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