Indirect tax collections of KM 3.5bn meet full-year target.

Indirect tax collections of KM 3.5bn meet full-year target. BiH Indirect Tax Authority has collected KM 3.5bn (EUR 1.8bn) worth of revenues from indirect taxes as of Nov 10, thus fulfilling its full-year plan in advance, FENA reported. ITA press department representative Ratko Kovacevic stated that by end-2006 ITA expects to collect another KM 500mn, which will represent surplus against planned amount of revenues. We note that thus ITA has managed to collect by KM 700mn (25%) more than the three separate customs and tax administrations in full-2003. In the meantime, ITA has so far prevented illegal trade worth KM 14.3mn, up by 9.5 times compared to full-2005 . In addition, the tax authority seized goods in 345 cases in Jan-Sep compared 213 cases during the previous year.