Friday, December 5, 2008

BOSNIA REMOVES TAX ON IPA FUNDS

SARAJEVO, Bosnia (December 5,2008) - The Bosnian State Parliament's House of People adopted yesterday amendments to the VAT Act that exempt the EU’s pre-accession funds (IPA) from the value added tax (VAT).

Cancelling VAT charges on these funds was a condition set by the European Commission (EC) for the implementation of 50 million Euros worth of projects from 2007.

The total sum of IPA funds for Bosnia is 440 million Euros by 2011. The EC Delegation to Bosnia welcomed the move.
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