AMIDŽIĆ: REMOVAL OF EXCISE TAXES WOULD THREATEN INVESTMENT PROJECTS

JAHORINA, MAY 12 /SRNA/ - BiH Minister of Finance and Treasury Srđan Amidžić has stated during the Jahorina Economic Forum that the issue of excise duties is political rather than economic in nature and that abolishing excise taxes would mean giving up infrastructure projects.

Amidžić said that the consequences stemming from global disruptions caused by developments in the Middle East are political in nature and are only being presented as an economic issue.

"In the current situation, an economic response cannot be expected", Amidžić said during the panel discussion titled "Sustainable Market Without a Grey Zone: Partnership Between the State and the Economy", held as part of the Jahorina Economic Forum.

He pointed out that Republika Srpska had reduced excise duties by 10 pfennigs per liter.

"People will say that is not significant, but when prices increase by 10 pfennigs, then it suddenly matters", Amidžić said, adding that anyone supporting the abolition of excise duties would also have to give up infrastructure projects financed through indirect taxation.

Vinko Skoko, assistant director of the Tax Sector at the BiH Indirect Taxation Authority /ITA/, said during the panel discussion that any change in excise duties would affect the country's fiscal stability.

"Every change requires additional financial resources. In the end, we would gain nothing and only lose time", Skoko pointed out.