NICHOLL CONSIDERS AN ALTERNATIVE SOLUTION TO TAX RETURN ISSUE

SARAJEVO, Bosnia (January 24,2008) – The Bosnian Taxation Authority Managing Board President Peter Nicholl is considering an alternative solution related to the value added tax (VAT) return.

Nichol announced that the amount of 10 per cent of minimal reserves at the joint account, which, in accordance with the decisions passed by the Managing Board in 2006 and 2007 is not enough to settle VAT tax return to tax payers.

That is why the Bosnian Taxation Authority Managing Board discussed this issue December 14,2007 and January 15,2008 in the sense that Act 9 Item 1 of the Law on Payments to Joint Account is implemented for the purpose of ensuring timely execution of the VAT tax return.

Since that proposal was not supported by the genocidal Serbian creature in Bosnia "the RS", Nicholl is of the opinion that an alternative solution to the problem is needed.