Bosnia’s Serb Republic public revenue grew 4% y/y to BAM 139.5mn (EUR 71mn) in January 2014, underpinned by rising tax, social contributions and other revenue, the Republic’s tax administration office said.
Direct tax revenue rose 5% to BAM 28.2mn in January supported by higher income (up 7% y/y to BAM 19.5mn) and profit (up 2% to BAM 6.9mn) tax collections, whereas property tax proceeds declined over the period (13% to BAM 1.0mn).
Revenue from social contributions went up 2% to BAM 92mn likely reflecting low prior-year base. The January figures could imply some improvement in employment but it is too early to build on the reading.
Health insurance contributions continued retreating, falling by 2% y/y to 33.7mn, while retirement insurance contributions grew 4% to BAM 51.5mn.
Other public revenue, including income from fees and commissions, rose 13 y/y to BAM 19.2mn in January.
The Serb Republic public revenue edged up 0.6% to BAM 2.1bn in 2013, as rising tax and other revenue offset falling social contributions.
The Serb Republic together with the Muslim-Croat Federation makes up Bosnia.
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