Bosnia raises VAT registration threshold

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 20^th 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.