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SARAJEVO – Bosnia and Herzegovina’s indirect tax revenue for the first quarter of 2025 has surged to 2.75 billion KM, marking a 4.6% increase compared to the same period last year. The growth reflects a solid economic recovery, with March 2025 collections alone hitting 950 million KM, an 8.8% rise from March 2024.
The tax administration also processed VAT refunds for taxpayers entitled to them, amounting to 540 million KM in the first three months of the year. The net revenue, which was distributed to various state bodies, entities, and the Brčko District, totaled 2.21 billion KM, a 4.9% increase from 2024.
Breakdown of Revenue Distribution
- State Institutions: 243 million KM for the financing of national institutions.
- Federation of BiH: 1.21 billion KM.
- Republika Srpska: 681 million KM.
- Brčko District: 69 million KM.
In addition to standard revenue, special road taxes for infrastructure projects generated additional funds for the entities, with the Federation of BiH receiving 54 million KM, Republika Srpska 36 million KM, and Brčko District 2 million KM.
Debt and Tax Trends
Over the first quarter of 2025, Bosnia’s entities reported increased revenues alongside relatively stable external debt obligations. The Federation of BiH’s external debt for the period stood at 238 million KM, while Republika Srpska’s was 112 million KM, and Brčko District had a 5 million KM debt.
What’s Next?
The continued growth in indirect tax revenue underscores the country’s economic resilience. It is expected that this upward trend will continue as the government remains committed to fiscal discipline and infrastructure development.
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