prijava
SARAJEVO, June 7 (FENA) - Deputy Prime Minister of FBiH and Finance Minister Jelka Milićević said that the new laws on contributions and income tax, which the government has adopted in the form of proposal at today's session in Sarajevo and sent them to the parliamentary procedure is the topic that concerns every citizen.
“These are the laws that regulate the rules for contributions paid by employers, the rights of employees and beneficiaries of extra-budgetary funds and in some way are the laws defined in the Reform Agenda,” said Milićević at a press conference.
The importance of enacting these laws is reflected in the fact that this area should be fully regulated thus avoiding great deal of inequality in terms of rates, bases and contribution obligations.
Under the proposed solutions contributions that are paid at the expense of employers are eliminated, and the aggregate contribution rate decreases from the current 41.5 to 33.5 percent. At the same time, the basis for the calculation of the contribution is expanded, and besides contributions on salaries, they will also include meal allowance and holiday allowance.
“The basic principle is to expand the tax base for contributions calculation and to reduce this rate. So far, we have had contributions to salaries and allowances in the amount of 41.5 percent, but the problem was also in the method of calculation. In the proposed law, apart from the fact that we wanted to discount the price of labor, we also wanted to facilitate the calculation of the contribution itself. It now amounts to 33.5 percent in this draft law and consists of pension benefits of 18.5 percent on gross salary,13.5 percent for healthcare, and 1.5 percent for unemployment,” said Milićević.
The draft laws are also important for employees, because so far there has been a large share of non-reimbursable income so that workers often had small basis for payment of contributions, and therefore they would end up having small pensions.
At this point, Milićević stressed, all payments received from employment or any kind of service contract are taxed and are included in the base for the calculation of pensions.
“There are specific remunerations that so far stemmed from service contracts- income from independent work. They were paid, but there were no rights stemming from these payments, that is, collected taxes and contributions. In this case, both the proceeds and contributions paid go into the base for retirement plan,” underlined Milićević.
“For the first time, income from financial investments and income from dividend payments will also be taxed. In addition, we also have a part of interest rate, where only term savings are taxed at a rate of 10 percent and other revenues that are revenue for special sports workers, artists or people in sports and culture,” said Milićević.
In relation to the existing law, in the proposed law income tax shall cover on all gains from gambling, which means that there will be no more tax-free amount.
Considering that until now there was a unique rate of 10 percent, the new law on income tax introduces three rates - the first one is zero rate for salaries of up to 700 KM, the rate of 10 percent is for income up to 1,500 KM, and 20 percent for income exceeding 1,500 KM.
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(FENA) S. R.
