FIRST DECISIONS ON VAT REFUNDS FOR PURCHASING FIRST PROPERTY HANDED OVER

BANJA LUKA, SEPTEMBER 17 /SRNA/ – The management of the Indirect Taxation Authority /ITA/ of BiH today handed over the first two decisions on VAT refunds for purchasing first property to beneficiaries from Doboj and Banja Luka.

ITA BiH Director Zoran Tegeltija said that more than 1,400 applications for VAT refunds for purchasing first property have been received so far.

"Some 682 applications for VAT refunds were received by the Tuzla Regional Centre, 382 in Sarajevo, 281 in Banja Luka, and 118 in Mostar," Tegeltija said at a press conference in Banja Luka.

Chairman of the ITA BiH Governing Board Srđan Amidžić said there had been numerous obstacles to implementing VAT refunds for the purchase of a first property, but that persistent efforts had resulted in the first decisions being handed over today.

"I am particularly grateful to the entire Authority, which made an enormous effort to coordinate all the necessary institutions so that we could hand over the first decisions today. This measure will cost Republika Srpska up to BAM 50 million, while the cost to the FBiH will be somewhat higher. However, we did not want to impose age restrictions, so everyone is entitled to a VAT refund for purchasinga first property," Amidžić said.

The Rulebook on the implementation of the VAT Law concerning the purchase of a first property entered into force on July 8, while the law itself was adopted in April last year.