Bosnia and Herzegovina Providing Social Security Subsidies
The Federal Parliament of Bosnia and Herzegovina has passed a law on financial and economic measures to mitigate the effects of the COVID-19 pandemic. One of the main measures will be subsidizing social security contributions up to 244.85 YOU per employee, starting from April 2020 and up to a month after the end of the state of emergency. The subsidy will be available to employers who have fulfilled their obligation to pay contributions and income tax by February 2020 and who have suffered a decrease in turnover of at least 20% compared with the same month of 2019.
The law also provides for exemption from the advance tax required in 2020 for companies eligible for social security subsidies. In addition, exemption from interest on tax debt is granted for two months after the end of the state of emergency.
The law was published in the official newspaper on May 7, 2020 and entered into force on May 8, 2020.
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