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Bosnia cuts VAT on essential foodstuffs as inflation soars

The Bosnian assembly of Republika Srpska has approved a reduction on basic foodstuffs from the reduced VAT rate of 17% to 5%. At the same time, a range of ‘luxury’ goods in the 17% band will be recategorized to the standard 22%. The assembly will also be looking at cutting excise duties on oil, petrol and diesel.

Source: VAT Calc

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