SARAJEVO, MARCH 16 (ONASA) – At today’s session in Sarajevo, the Government of the Federation of BiH, on the proposal of the Federal Ministry of Energy, Mining and Industry, passed a decision approving the transfer of funds collected on the basis of the tax for the establishment of reserves of oil derivatives, planned in this year’s Budget of the Federation of BiH, to the Federal Ministry .
Funds in the amount of 10.500.000 BAM planned in the position “Current transfers and other current expenditures – Subsidies to public enterprises – Special dedicated transaction account for the payment of fees for the establishment of reserves of oil derivatives” in the FBiH Budget for 2023, as dedicated income, will be spent is in accordance with the Decision on the method of dedicated spending of funds generated on the basis of the fee for the establishment of reserves of oil derivatives for the period 2023 – 2026, which refers to the year 2023.
The Federal Ministry of Energy, Mining and Industry will, by a special decision, establish a procedure within the Ministry for the transfer of funds and appoint a Commission for monitoring the intended use of funds.
Also, the Ministry will issue orders to the Federal Ministry of Finance to transfer the available funds from a special dedicated transaction account to the account of the Operator – Terminali Federacije Ltd. Sarajevo.
The Federal Ministry of Energy, Mining and Industry, the Federal Ministry of Finance and Operator – Terminali Federacije Ltd.are responsible for the implementation of this decision. Sarajevo, each within their jurisdiction.
In the explanation of the decision, it is stated that the Oil Derivatives Act in the Federation of Bosnia and Herzegovina established the Oil Derivatives Reserve Operator, which operates under the name “Operator – Terminali Federacije” Ltd. Sarajevo and which is the only one authorized to establish and renew reserves of oil derivatives in the Federation of Bosnia and Herzegovina.
This law also established a fee for the establishment of reserves of oil derivatives, as dedicated public revenue for financing the establishment of reserves of oil derivatives in the Federation of Bosnia and Herzegovina, and is the revenue of Operator Terminali Federation Ltd. Sarajevo.
The said tax is paid on the sale of petroleum products used for final consumption in the amount of 0,01 KM per liter of petroleum products, including LPG used in internal combustion engines.
Those liable to pay the tax are energy entities dealing with the retail trade of oil derivatives and customers who pay the same by the 20th of the month for the past month to the payment – deposit account from which it is transferred to a special dedicated sub-account of the Unified account of the Treasury of the Federation of Bosnia and Herzegovina.
Considering that in the Budget of the FBiH for 2023, on “Source 30 – Designated income”, earmarked funds in the amount of 10.500,000 BAM are planned, the Ministry proposed the adoption of today’s decision.