Bosnia and Herzegovina’s lower house of Parliament (House of Representatives) approved amendments to the Value Added Tax (VAT) law on 6 December 2024.

The amendments introduce provisions for VAT refunds on the first supply of new residential properties. This law is expected to significantly impact the residents of Bosnia and Herzegovina, given that there is a 17% VAT on real estate prices, which constitutes a substantial financial burden.

These amendments still require approval from the upper house (House of People) to become law.