波黑2025年间接税收入创历史新高，税收增长主要受通货膨胀与进口规模推动

Core Insights - Bosnia and Herzegovina's indirect tax revenue is projected to reach 12.177 billion marks in 2025, marking a year-on-year increase of 633 million marks, or 5.51%, setting a historical record [1] - The growth in tax revenue is primarily driven by inflation and the scale of imports, with actual net revenue distributed to various governmental entities amounting to 9.974 billion marks, an increase of 525 million marks year-on-year [1] Group 1 - The increase in indirect tax revenue is directly related to the growth in transaction volumes and values, driven by rising wages and remittances that boost consumption [2] - Inflation has significantly impacted the growth of indirect tax revenues, particularly through increased value-added tax and consumption tax [2] - A substantial portion of the revenue growth is attributed to product imports, which does not incentivize domestic production, highlighting a reliance on borrowing in both private and public sectors [2] Group 2 - The growth in indirect taxes is mainly due to inflation, with minimal contribution from economic activity itself, leading to a heavier tax burden on citizens without visible improvements in public services [3] - There is a concern that the increase in indirect taxes has not resulted in a decrease in direct taxes, and government spending continues to expand without restraint, exacerbating debt levels [3] - The current economic model heavily relies on remittances from abroad, particularly from EU countries, indicating a need for a shift towards increasing the share of direct taxes in public revenue [2][3]