July 07, 2014
TheSrpskaTimes

Taxpayers and other persons engaged in the trade of cigars, cigarillos and rolling tobacco are obliged to make an inventory of tobacco products on the 1st of August and submit the lists to the Indirect Taxation Authority BiH by the 8th of August.

These amendments to the Law provide, among other things, that the excise tax on tobacco will amount to 78 KM per kilogram.

Taxpayers and other persons engaged in the trade of tobacco products are, by the 8th of August, obliged to report to ITA their new retail prices and to, within 10 days after the delivery of the inventory lists, calculate and pay the difference in excise.

All persons engaged in the trade of cigars, cigarillos and rolling tobacco are obliged to, under the new law, calculate the exercise duty on the existing stocks determined in the inventory lists, and within ten days after the submission of the inventory lists pay the difference between the newly calculated and the earlier paid exercise to the single account of the ITA.

Tobacco products with the paid excise duty, in accordance with the Law on Amendments to the Law on Excise Duties, may be sold until stocks last and at the new retail prices, which must be displayed in a conspicuous place at the retail facility.

“Amendments to the Law on Excise Duties which define the new way of taxing rolling tobacco, cigars and cigarillos represent the continuation of harmonization of excise policy in Bosnia and Herzegovina with the policy of excise duties on tobacco products in the EU,” the statement said.