Citizens in Bosnia and Herzegovina are eagerly waiting for the application of the law to enable them to return VAT to purchase the first real estate. The Law on Value Value in BiH was adopted in early April this year, and how to apply in detail the acts that should be developed by the Directorate for Indirect Taxation (UIO) BiH.
As before and said, this procedure may last for months. At what stage is the complete process, the eKapija portal tried to find out in the indirect taxation management. As confirmed, the Preliminary Rulebook on the Application of the Law on VAT is composed of the purchase of the First Real Estate, while the Fair Steps are paid to the UIO Board of Directors.
– The next steps regarding the above is the consent of the UIO Board of Directors and the implementation of public consultations and opinions from the competent authorities, which is expected in the next session of the UIO Board. More about what all this is stated in the mentioned pre-draft Ordinance will be possible after the next session of the UIO Board of Directors are from the UIO communication department.
In the I UIO Board, the ITA confirmed that at the last session, 14. April, the mentioned Rulebook in the form of pre-draft was considered. After the discussion and certain remarks, it was decided that the text of the Ordinance was offered in the UIO of BiH.
– According to the information provided by the Office of the Chairman of the Chairman, Srdjana Amidžić, this text was finalized and will be found at the next session of the Board. Finance ministers are underway and the term next session is expected to be scheduled soon – said from the Office of the Chairman UOI.
By the way, as provided by the adopted law, the right to a return of VAT will have all the apartment purchased after the entry into force of the VAT law and does not affect the adoption of the Rulebook.
Also, it should be borne in mind that customers are not released from VAT, but to provide for VAT refund after the purchased property under certain conditions that will prescribe the UIO.
According to the adopted law, the buyer is entitled to a VAT refund for 40 square meters, and for each household member is planned for 15 square meters.
In the first version of the law, VAT refund was enabled exclusively for the first apartment, but the amendments are also provided for the purchase of the house.
Also, the law does not know the age border, ie all adult citizens of BiH will be able to exercise the right to return VAT to buy the first real estate.
What is specified by the Ordinance?
As for the Rules itself, ie bylaws that should be made, they should determine the condition and the manner in which the buyer is eligible for the purchase of the first real estate, including the competent certificate issuance bodies proving to complete the Conditions for VAT refund. Also, the bylaw should also be defined by the minimum period for the property of the Rights of VAT, then the surface of the building and the price of the VAT, and the maximum amount of households that exercise or not achieve the right to which extent. It is necessary to define the initial deadlines in terms of owning the first real estate in order to exercise the right, as well as other conditions necessary for the implementation of the Law on VAT.
The Rulebook, among other things, should be specified in the competent authority in the Federation of BiH, ie in all 10 cantons, given that no data on the ownership of real estate is not provided.
– Namely, in the Republika Srpska, the Geodetic Administration has records for real estate throughout the entity while in the Federation of Bosnia and Herzegovina, this is not the case and the data are distributed according to the cantonal services – they pointed out earlier from the UIO.
For the return of the VAT, buyers are also interested in buyers in real estate agencies. According to Dragan Milanović, the Regional Director of Remax BiH, the fact is that customers must have money at start and wait for a refund.
– The amount of VAT is significant, but since the return is provided upon completion of construction and the issuance of the use permit, and this may take place if the apartment is purchased at the earlier stage, customers must provide complete purchases. While the amendment of the Law was in the procedure, there were customers who delayed the law, but now there is no need to apply for the purchase of the laws if they fulfill the criteria to prescribe the UIO of their regulations.
Milanovic believes that the law also carries certain ambiguities to which, as hopes, the Ordinance give answers.
– These days, the deadline issued by the legislator, to prepare the underground acts, ie the regulations, which will regulate the procedures, conditions and manner of return in more detail. For example, it remains unclear how to treat members of the same household, which will be a refund or a maximum number of squares, whether it will be disabled to realize this right, whether there is currently no real estate and many questions.
He says that the task has learned to prevent abuses, but also not complying with many procedures.
Neither fall or excessive price growth
According to Milanović, the situation on the real estate market in Banja Luka is stable, which is expected in the coming period. Considers that no price falling should be expected, nor excessive growth, if there are in the form of bids – demand and economic parameters, writes E-gate.
– Prices stable with slight growth as a result of inflation, material prices, quality of construction but without large oscillations as it was, say, 2022. Years. Demand as a basic market generator is at a satisfactory level. Be during the year of occasional falls or growth in demand but cumulatively viewed on an annual basis is satisfactory. The certificate for this is a large number of investments, that is, a lot of residential and business facilities are being built, and the construction always adapts to the demand – Milanović told us.
