BOSNIA REMOVES TAX ON IPA FUNDS

SARAJEVO, Bosnia (December 5,2008) - The Bosnian State Parliament's House of People adopted yesterday amendments to the VAT Act that exempt the EU’s pre-accession funds (IPA) from the value added tax (VAT). Cancelling VAT charges on these funds was a condition set by the European Commission (EC) for the implementation of 50 million Euros worth of projects from 2007. The total sum of IPA funds
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