prijava
SARAJEVO, May 25 (FENA) - The Government of the Federation of Bosnia and Herzegovina has determined and sent to the Parliament of the Federation of BiH amendments to two important laws, Law on Amendments to the Law on Default Interest Rate on Public Revenues and the Law on Amendments to the Law on Execution of the Budget of the Federation of BiH for 2021.
Amendments to the Law on Default Interest Rate on Public Revenues prescribe the possibility of complete write-off of default interest incurred on the basis of overdue but uncollected public revenues if the business entity settles the obligations for the principal debt within 24 months from the entry into force of the Amendment to the Law.
According to the data available to the FBiH Tax Administration, the latest effects of the application of the Law on Default Interest Rate are the collection of the principal debt in the amount of about KM 43.4 million.
Precisely such effects of enabling the extension of the deadline for business entities to pay the debt were the motive for the FBiH Government to propose amendments to the Law and additionally enable the time in which debtors, stimulated by debt write-off for default interest, would pay the debt principal.
Amendments to the Law on Execution of the Budget for 2021, allow unhindered transfers in the total amount of 30 million KM to lower levels of government, municipalities and cities, this year, regardless of the arrangement with the International Monetary Fund (IMF).
As previously explained to the public, the proposed amendment to the Law will ensure that funds are already available in the FBiH Budget in a timely and efficient manner, based on the Decisions of the FBiH Government on determining criteria and allocating funds to municipalities and cities, regardless of the arrangement with the IMF.
The Government of the Federation of BiH is convinced that the FBiH parliamentarians will understand the necessity of adopting the proposed amendments to these two laws and will support them.
(FENA) A. B.
