Bosnia and Herzegovina

Bosnia changes VAT penalties

January 12th, 2014

The 2014 Bosnian Indirect Tax Procedures Law implemented a range of increased fines and interest charges for non-compliance from 1 January 2014. The new flat charge for late payments of VAT is 5% of the taxable amount due.  This was 10%.  Late payments of VAT will also result in a daily penalty of 0.06% of …