VATupdate

Share this post on

Donated Food goes VAT-free

At the last session, the House of Peoples of the Parliamentary Assembly of Bosnia and Herzegovina unanimously adopted the Bill on Amendments to the Law on Value Added Tax. As an explanation to the law states a vast number of companies in BiH involved in the production or trade of food products have been discouraged from donating food in larger quantities, since donating food has been creating an additional financial obligation to pay VAT. Therefore, large amounts of food have been destroyed instead of providing a meal for vulnerable categories of the population. Translated into the amount of food per day, that’s more than 700,000 meals thrown away on a daily basis.

Source: eurofast.eu

Sponsors:

VAT news

Advertisements: