Bosnia raises VAT registration threshold
- 06 July 2015 | Richard Asquith
From 1 July 2015, the Value Added Tax registration threshold in Bosnia Herzegovina was increased to BAM 1.5million. This relates to resident and non-resident companies. The voluntary VAT registered threshold procedure remains in place.
Any company exceeding the turnover threshold in a single calendar year must VAT register by the 20th of the month following the passing of the threshold.
To arrive at the registration threshold, all supplies, including VAT transactions, included nil-rated should be included in the calculation. VAT exempt transactions may be excluded. In addition, closely related companies or direct branches must be included in the revenue.