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Bosnia-Herzegovina Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
3,849,891 (July 2018 est.)GDP (PPP)
$44.83 billion (2017 est.)The economy relies heavily on the export of metals, energy, textiles, and furniture as well as on remittances and foreign aid.
GDP growth rate
3% (2017 est.)Low but steady
GDP (PPP) per capita
$12,800 (2017 est.)Among the lowest in Europe
Local currency
Bosnia and Herzegovina convertible mark (BAM)Pegged to the Euro
Financial stability (Public debt)
39.5% of GDP (2017 est.)Medium but decreasing
Inflation
1.2% (2017 est.)Low
Language
Bosnian (official) 52.9%, Serbian (official) 30.8%, Croatian (official) 14.6%English is understood in the main urban areas
Corruption perception index (Source: Transparency International)
89/180High level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
17%The VAT regime applies equally throughout the country of Bosnia and Herzegovina; there is no reduced VAT rate though exemptions apply (real estate, insurance, financial services, education)
Corporate Tax
10%Taxes are levied by regional governments (three in total). Rules have been partially harmonised in the past few years, but significant differences remain.
Duties
N/AThe customs policy law and the rates of customs tariffs to be applied exist and are largely based on European Union (EU) standards. Bosnia and Herzegovina has signed the Stabilisation and Association Agreement (SAA) and the Central European Free Trade Agreement (CEFTA).
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