Fiscalization/E-Invoicing Law in Federation of Bosnia and Herzegovina

Draft law on fiscalization of transactions in the Federation of Bosnia and Herzegovina, aiming to modernize and enhance the existing fiscal system. The law mandates the issuance of receipts and the use of electronic fiscal systems (EFS) for transaction recording, supervision, and penal provisions. It aligns with EU Directive 2014/55/EC on electronic invoicing in public procurement to prevent tax evasion and improve real-time transaction data security.

Key sections include:

Basic Provisions: Defines the law’s scope, purpose, and key terms, including “invoice,” “transaction,” and “electronic fiscal system.”
Issuance of Receipts: Details the requirements for issuing electronic invoices (e-invoices) and fiscal receipts, including mandatory content and conditions for issuance.
Electronic Fiscal System (EFS): Specifies the components and functionalities of EFS, including fiscal equipment, electronic transaction recording systems (ESET), and security modules (SM).
Transaction Recording: Introduces the Central Platform for Fiscalization (CPF) managed by the Tax Administration for real-time transaction monitoring and data exchange.
Supervision System: Establishes oversight mechanisms, including a specialized committee for technical and functional EFS characteristics.
Penalties: Outlines fines and operational bans for non-compliance, emphasizing severe penalties for repeated offenses.
Transitional and Final Provisions: Sets deadlines for compliance and the transition from the old to the new system.

The law aims to enhance tax collection efficiency, reduce informal economy activities, and ensure transparent business operations through advanced technological solutions.

Source gov.ba

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