prijava
MOSTAR, November 10 (FENA) - Deputy Chairman of the Council of Ministers of BiH and Minister of Finance and Treasury, Vjekoslav Bevanda, says the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting will not only prevent abuses but also create better environment for businesses as it avoids double taxation and encourages investments.
"This convention seeks to eliminate loopholes in international tax rules, misuse of the existing network of double taxation treaties that have led to significant losses in global income tax revenue. Abuses and tax evasion are taking place all over the world, which is why such conventions are of particular importance, with concrete measures that we will implement in BiH, " said Minister Bevanda, who signed the Convention on behalf of BiH, HDZ BiH stated.
"We are closely monitoring this area, coordinating with the entities and cantons, but also with all international institutions dealing with tax policy and regulations," Bevanda said, adding that other conventions in the area are expected to be signed soon, Minister Bevanda said.
(FENA) A. B.
