prijava
SARAJEVO, April 29 (FENA) - The extraordinary session of the House of Peoples of the FBiH Parliament has been adjourned and will resume on Monday at 11 a.m. when delegates will vote on a bill to mitigate the negative economic consequences of global coronavirus pandemic.
“By applying this law, with 16 articles, we want to take the first step towards a real sector that is the least resilient and cannot respond to market disruptions caused by coronavirus pandemic. Small businesses cannot respond to freezing of the economy. Another category that is recognized in the law is natural persons, craftsmen,” FBiH Minister of Finance Jelka Milićević told.
The enactment of this law, known as the 'corona law', has been proposed to identify, in a synchronized action, the areas that are most affected by the pandemic in FBiH. So, Milićević said, calculations were made to keep track of minimum wages.
Among other things, she stated that Neum is the most affected by the pandemic because of its tourism, Zenica because of industry and due to such specificities it was not possible to identify a universal solution.
“It was difficult to make distinction what segments are being forbidden to work. For example, hotels have never been banned from operating, but are indirectly banned from operating under the circumstances. Also, our export-oriented companies are affected by this situation,” said Milićević.
This Law provides for the subsidization of contributions for compulsory insurance, suspension of calculation and payment of default interest on public revenues, suspension of all administrative, civil, non-litigation and enforcement proceedings during the state of natural disaster, as well as the establishment of Guarantee Fund.
It prescribes abolition of the obligation to pay the advance on corporate income tax and abolition of the obligation to pay the advance payment of personal income tax.
For its implementation, 500 million KM is planned in the fund for stabilization of economy, which is foreseen by the adopted revision of this year's FBiH budget.
“This law accompanies the law suspending the time limits for judicial proceedings during the state of natural disaster, with exception of some court proceedings, for example those imposing prison sentences for offenders,” added Milićević.
In addition to the two laws mentioned, delegates will vote, at the session on Monday, on decisions to accept the loan under the Loan Agreement between BiH and the International Bank for Reconstruction and Development for emergency COVID-19 recovery project for BiH, and borrowings under the IMF Rapid Financing Instrument. They will also vote on the approval of amendments to this year’s FBiH Health Insurance and Reinsurance Institute’s financial plan and the FBiH Solidarity Fund.
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