Bosnia and Herzegovina: Proposed VAT refund on first supply of new residential property passed by lower house of Parliament
Proposal requires approval from upper house of Parliament
The lower house of Parliament (House of Representatives) on October 22, 2024, adopted amendments to the value added tax (VAT) law that include provisions for a refund of VAT paid on the first supply of new residential property.
The amendments require approval from the upper house of Parliament (House of People) and mandate the tax authority issue detailed regulations aimed at preventing tax fraud.