Bosnia and Herzegovina to Introduce VAT Amendments Including Increased Registration Threshold

The Governing Board of Bosnia and Herzegovina’s Indirect Taxation Authority has reportedly proposed several VAT amendments, including:

An increase in the standard VAT registration threshold for economic operators from BAM 50,000 to BAM 75,000 in taxable turnover per year, with an increase in the threshold for farmers to BAM 100,000;
The introduction of new rules on the place of supply of services in line with the EU VAT Directive;
The extension of reverse charge rules to:
- supplies of immovable property of a taxable person in a bankruptcy procedure;
- imports and supplies of electricity and natural gas to taxable dealers through transmission or distribution systems; and
- supplies of investment gold;
The introduction of new rules for VAT refunds to foreign taxable persons; and
The removal of joint registration for VAT groups.