The Republic of Srpska Minister of Finance Zora Vidović has told SRNA that the Ministry of Finance and the Srpska Government will initiate amendments to be made to the laws and the repeal of unconstitutional provisions in the fields where the bounds of the Constitution were exceeded in order to transfer competences back within the constitutional framework.
Vidović recalled that the transfer of competences in the fiscal policy, insurance, debt and foreign investments began when the OHR handed over “Quick Start Law Package” to the Council of Ministers.
“That package included the Law on Foreign Trade Policy, the Law on Customs Policy, the Law on Foreign Debt, the Law on Customs Tariff and the Law on Foreign Direct Investment Policy,” Vidović specified.
According to her, after that, one of the recommendations from the EU Road Map for BiH was the establishment of a treasury at the BiH level and the abolition of entity payment bureaus, as well as the implementation of the Law on Foreign Direct Investment of BiH.
“This has resulted in the adoption of a number of laws at the BiH level in this area,” Vidović added.
She recalled that on this basis, the Law on Customs Policy, Law on Customs Tariff, Law on Excise Duties, Law on Deposit Insurance at Banks, Law on Formation of Export-Credit Agency, Law on Payments to Single Account and Allocation of Revenue, the Law on the Indirect Taxation System and the Law on Value Added Tax were passed at the BiH level.
Vidović added that the Law on Public Procurement, the Law on Prevention of Money Laundering, the Law on Government Debt and Guarantees, as well as the Law on Settlement of Obligations under the Old Foreign Currency Account, were also passed at that time.
“On the basis of these laws, a treasury was formed at the Ministry of Finance in the Council of Ministers, as well as the Indirect Taxation Authority, the Indirect Taxation Authority’s Board of Directors, the Statistics Agency, the Deposit Insurance Agency, the Insurance Agency, the Public Procurement Agency, the Public Procurement Audit Committee, the Export Credit Agency and the Accounting and Auditing Commission of BiH,” said Vidović.
The Government of Srpska has recently adopted the conclusion tasking all its ministries with making an analysis of the transfer of competences from the Republic of Srpska to the level of BiH in the fields they cover.