TohidA/MONA · Datasets at Hugging Face

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

PA

20.2

1.2. Revenue administration, including customs

The Federation will pass a strengthened tax administation law on the basis of a draft proposed by the U.S. Treasury.

1

Program Prior Action

M

N/A

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

PA

20.3

1.3. Expenditure measures, including arrears clearance

Distribution of the first tranche of the succession monies to the entities and the state budget will take place in accordance with Annex 4.

1

Program Prior Action

M

N/A

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

The entities will formulate a plan to complete the introduction of modern Treasury Systems at their central government levels, and introduce modern Treasury Systems in local governments. The State will develop a plan to introduce a modern Treasury System.

1

Program Prior Action

M

Conditions source: IMF/World Bank Lead institution: World Bank/USAID

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

PA

20.9

1.9. Inter-governmental relations

The Entities will make transfers to the State, at least accoding to the agreed cumulative monthly schedule.

1

Program Prior Action

M

N/A

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

PA

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

All privatization receipts accruing to the central governments of the RS and the Federation, and to the Cantons in the Federation will be placed in escrow accounts alongside all succession monies pending a comprehensive strategy to clear arrears. This is reflected in State state law governing the use of succession assets, and Federation laws on privaization will be amended accordingly.

1

Program Prior Action

M

N/A

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

The Entities and the Breko District will implement these laws and stop double taxation on excises.

1

Continuous

SB

At time of P1R1, this sb was combined with another with 7/31/02 and continuous test dates to form a single sb with continutous test date. Met for 9/30/02.

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Any changes to the current indirect tax system should retain or strengthen the principle of harmonization.

2

Continuous

SB

Met for 9/30/02.

1

2

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

The Breko District will amend its legislation to include excise taxes in the base for calculationg the sales tax.

3

09/30/2002

M

N/A

1

3

2002-09-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

The base of the Breko District sales tax will be aligned with that in the Entities.

4

Continuous

SB

At time of first review, 9/30/02 test date was changed to continuous. Met for 9/30/02.

1

4

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

The two rates of sales tax in the Breko District will be 8 and 18 percent unless changes are agreed with IMF staff.

5

Continuous

SB

At time of first review, 9/30/02 test date was changed to continuous. Met for 9/30/02.

1

5

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

The Breko District will bring the retail units in the "Arizona" market into the tax net.

6

09/30/2002

M

N/A

1

6

2002-09-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

There will be no offset operations for tax liabilities that are incurred after 2001.

7

Continuous

SB

Met for 9/30/02.

1

7

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.2

1.2. Revenue administration, including customs

The customs administration in both Entities and the Breko District will introduce the ASYCUDA++ information system.

1

07/31/2002

M

Coditions source: EU Lead institution: EU

1

2002-07-31

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.2

1.2. Revenue administration, including customs

The Entities and the Breko District will pass laws establishing the excise attribution mechanism as previously agreed with the World Bank.

2

07/31/2002

M

N/A

1

2

2002-07-31

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.2

1.2. Revenue administration, including customs

The Entities and the Breko District will implement laws establishing the excise attribution mechanism as previously agreed with the World Bank and thereby avoid the double taxation on excises.

3

Continuous

SB

At time of P1R1, 2 sb with test dates of 7/31/02 and continuous, were combined to form this sb with continuous test date.

1

3

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

The Entities will make trasfers to the State, at least according to the agreed cumulative monthly schedule reported in Annex 1 of the MEFP.

1

Monthly

SB

N/A

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

All privatization receipts accruing to the central governments of the RS and the Federation, and to the Cantons in the Federation will be placed in escrow accounts alongside all succession monies pending a comprehensive strategy to clear arrears.

2

Continuous

SB

N/A

1

2

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

A comprehensive strategy to clear arrears will be prepared. All arrears, including frozen foreign currency deposits, will be audited by the Supreme Auditor Institutions.

3

06/30/2003

SB

N/A

1

3

2003-06-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Bosnia & Herzagovina will not clear domestic arrears that were accrued before end-2000, pending a comprehensive strategy to clear arrears.

4

Continuous

SB

Met for 9/30/02.

1

4

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

20.5

1.5. Debt Management

The RS, and the Federation will amend their budget laws to give effect to the requirement that cantons, municipalities, and extra-budgetary funds individually shall not increase their indebtedness to commercial banks or development banks except for borrowing undertaken under World Bank programs.

1

06/30/2002

PM

Not observed in the RS, observed in the Federation.

1

2002-06-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

23.1

4.1. Pension reforms

The Federation pension fund will adhere to the cut-off dates for contribution collections at the end of each month as specified in the 2000 pension law. The RS pension fund will adhere to the cut-off date of the 10th of each month for contributions collect.

1

Monthly

SB

Met for 9/30/02.

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Banking supervision will be strengthened by enforcing the current prudential regulations.

1

Continuous

SB

Conditions source: IMF/World Bank Lead institution: IMF/World Bank. Met for 9/30/02.

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SB

27

8. International trade policy, excluding customs reforms

There will be no new free trade zones.

1

Continuous

SB

Met for 9/30/02.

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2002-12-20

P1

R1

BLANK

SPC

26

7. Exchange systems and restrictions (current and capital)

Continued adherence of the Currency Board Arrangement as constituted under the law, incorporating the amendments described in paragraph 10 of the MEFP.

1

Continuous

PC

Met for 9/30/02.

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

PA

20.2

1.2. Revenue administration, including customs

The Federation will pass a strengthened tax administation law on the basis of a draft proposed by the U.S. Treasury.

1

Program Prior Action

M

N/A

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

PA

20.3

1.3. Expenditure measures, including arrears clearance

Distribution of the first tranche of the succession monies to the entities and the state budget will take place in accordance with Annex 4.

1

Program Prior Action

M

N/A

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

The entities will formulate a plan to complete the introduction of modern Treasury Systems at their central government levels, and introduce modern Treasury Systems in local governments. The State will develop a plan to introduce a modern Treasury System.

1

Program Prior Action

M

Conditions source: IMF/World Bank Lead institution: World Bank/USAID

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

PA

20.9

1.9. Inter-governmental relations

The Entities will make transfers to the State, at least accoding to the agreed cumulative monthly schedule.

1

Program Prior Action

M

N/A

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

PA

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

All privatization receipts accruing to the central governments of the RS and the Federation, and to the Cantons in the Federation will be placed in escrow accounts alongside all succession monies pending a comprehensive strategy to clear arrears. This is reflected in State state law governing the use of succession assets, and Federation laws on privaization will be amended accordingly.

1

Program Prior Action

M

N/A

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Banking regulations will be brought in line with Basle Core Principles and European directives in regard to core capital requirements as specified in paragraph 9 of the Supplementary Memorandum of Economic and Financial Policies (SMEFP).

1

Combined Second and Third Reviews Prior Action

M

Combined second and third reviews prior action.

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

All banks that fail to meet the minimum capital requirements of KM 15 million will have their licenses withdrawn or will be placed under admistration, unless they are engaged in a restructuring program under the auspices of the International Financial Institutions, as specified in paragraph 9 of the SMEFP.

2

Combined Second and Third Reviews Prior Action

M

Combined second and third reviews prior action

2

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Amend definitions of assets eligible to meet reserve requirements to exclude cash in vaults, include foreign currency deposits and foreign liabilities in the base for reserve requirements, and expand the permissible range for reserve requirements to 0-20 percent, as specified in paragraph 8 of the SMEFP.

3

Combined Second and Third Reviews Prior Action

M

Combined second and third reviews prior action.

2

3

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Collect all bank by bank data on foreign currency exposure, including assets and liabilities indexed to foreign currencies, as specified in paragraph 9 of the SMEFP.

4

Combined Second and Third Reviews Prior Action

M

Combined second and third reviews prior actions.

2

4

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

The Entities and the Breko District will implement these laws and stop double taxation on excises.

1

Continuous

SB

At time of P1R1, this sb was combined with another with 7/31/02 and continuous test date to form a single sb with continuous test date. Met for 9/30/02.

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Any changes to the current indirect tax system should retain or strengthen the principle of harmonization.

2

Continuous

SB

Met for 9/30/02; 12/31/02.

2

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

The Breko District will amend its legislation to include excise taxes in the base for calculationg the sales tax.

3

09/30/2002

M

N/A

2

3

2002-09-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

The base of the Breko District sales tax will be aligned with that in the Entities.

4

Continuous

SB

At time of first review, 9/30/02 test date was changed to continuous. Met for 9/30/02; 12/31/02.

2

4

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

The two rates of sales tax in the Breko District will be 8 and 18 percent unless changes are agreed with IMF staff.

5

Continuous

SB

At time of first review, 9/30/02 test date was changed to continuous. Met for 9/30/02; 12/31/02.

2

5

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

The Breko District will bring the retail units in the "Arizona" market into the tax net.

6

09/30/2002

M

N/A

2

6

2002-09-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

There will be no offset operations for tax liabilities that are incurred after 2001.

7

Continuous

SB

Met for 9/30/02; 12/31/02.

2

7

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.2

1.2. Revenue administration, including customs

The customs administration in both Entities and the Breko District will introduce the ASYCUDA++ information system.

1

07/31/2002

M

Coditions source: EU Lead institution: EU

2

1

2002-07-31

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.2

1.2. Revenue administration, including customs

The Entities and the Breko District will pass laws establishing the excise attribution mechanism as previously agreed with the World Bank.

2

07/31/2002

M

N/A

2

2002-07-31

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.2

1.2. Revenue administration, including customs

The Entities and the Breko District will implement laws establishing the excise attribution mechanism as previously agreed with the World Bank and thereby avoid the double taxation on excises.

3

Continuous

SB

At time of P1R1, 2 sbs with test dates of 7/31/02 and continuous, were combined to form this sb with continuous test date. Met for 12/31/02.

2

3

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.2

1.2. Revenue administration, including customs

The commission on Value Added and Customs Administration will propose a framework of legislation governing all indirect tax legislation and administration.

4

06/30/2003

SB

N/A

2

4

2003-06-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

The Entities will make transfers to the State, at least according to the agreed cumulative monthly schedule reported in Annex 1 of the MEFP.

1

Monthly

SB

Met for 12/31/02.

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

All privatization receipts accruing to the central governments of the RS and the Federation, and to the Cantons in the Federation will be placed in escrow accounts alongside all succession monies pending a comprehensive strategy to clear arrears.

2

Continuous

SB

Met for 12/31/02.

2

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

A comprehensive strategy to clear arrears will be prepared. All arrears, including frozen foreign currency deposits, will be audited by the Supreme Auditor Institutions.

3

06/30/2003

SB

N/A

2

3

2003-06-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.3

1.3. Expenditure measures, including arrears clearance

Bosnia & Herzagovina will not clear domestic arrears that were accrued before end-2000, pending a comprehensive strategy to clear arrears.

4

Continuous

SB

Met for 9/30/02; 12/31/02.

2

4

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

20.5

1.5. Debt Management

The RS, and the Federation will amend their budget laws to give effect to the requirement that cantons, municipalities, and extra-budgetary funds individually shall not increase their indebtedness to commercial banks or development banks except for borrowing undertaken under World Bank programs.

1

06/30/2002

PM

Not observed in the RS, observed in the Federation.

2

1

2002-06-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

23.1

4.1. Pension reforms

The Federation pension fund will adhere to the cut-off dates for conribution collections at the end of each month as specified in the 2000 pension law. The RS pension fund will adhere to the cut-off date of the 10th of each month for contributions collect.

1

Monthly

SB

Met for 9/30/02; 12/31/02.

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Banking supervision will be strengthened by enforcing the current prudential regulations by taking appropriate remedial actions according to the regulations in cases where institutions breach regulations.

1

Continuous

SB

Conditions source: IMF/World Bank Lead institution: IMF/World Bank. Met for 9/30/02. Not met for 12/31/02.

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SB

27

8. International trade policy, excluding customs reforms

There will be no new free trade zones.

1

Continuous

SB

Met for 9/30/02; 12/31/02.

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SPC

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Amend regulations on banks' foreign currency exposures by end June 2003 to include credits indexed to foreign currencies.

1

06/30/2003

PC

N/A

2

1

2003-06-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

N/A

2003-06-06

P1

R2R3

BLANK

SPC

26

7. Exchange systems and restrictions (current and capital)

Continued adherence of the Currency Board Arrangement as constituted under the law, incorporating the amendments described in paragraph 10 of the MEFP.

1

Continuous

PC

Met for 9/30/02; 12/31/02; 3/31/03.

2

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

20.2

1.2. Revenue administration, including customs

The Federation will pass a strengthened tax administation law on the basis of a draft proposed by the U.S. Treasury.

1

Program Prior Action

M

N/A

4

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

20.3

1.3. Expenditure measures, including arrears clearance

Distribution of the first tranche of the succession monies to the entities and the state budget will take place in accordance with Annex 4.

2

Program Prior Action

M

N/A

4

2

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

The entities will formulate a plan to complete the introduction of modern Treasury Systems at their central government levels, and introduce modern Treasury Systems in local governments. The State will develop a plan to introduce a modern Treasury System.

1

Program Prior Action

M

Conditions source: IMF/World Bank Lead institution: World Bank/USAID

4

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

20.9

1.9. Inter-governmental relations

The Entities will make transfers to the State, at least accoding to the agreed cumulative monthly schedule.

1

Program Prior Action

M

N/A

4

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

20.9

1.9. Inter-governmental relations

An agreement will be reached between the RS, Federation and State on Entity transfers to the State for 2004, to be incorporated in all three budgets.

2

Fourth Review Prior action

M

N/A

4

2

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

23.1

4.1. Pension reforms

The collection period for the November RS pension will not be extended beyond the 10th of December.

1

Fourth Review Prior action

M

N/A

4

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

24.2

5.2. Privatization, public enterprise reform and restructuring, other than pricing

All privatization receipts accruing to the central governments of the RS and the Federation, and to the Cantons in the Federation will be placed in escrow accounts alongside all succession monies pending a comprehensive strategy to clear arrears. This is reflected in State state law governing the use of succession assets, and Federation laws on privaization will be amended accordingly.

1

Program Prior Action

M

N/A

4

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Banking regulations will be brought in line with Basle Core Principles and European directives in regard to core capital requirements as specified in paragraph 9 of the Supplementary Memorandum of Economic and Financial Policies (SMEFP).

1

Combined Second and Third Reviews Prior Action

M

Combined second and third reviews prior action.

4

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

All banks that fail to meet the minimum capital requirements of KM 15 million will have their licenses withdrawn or will be placed under admistration, unless they are engaged in a restructuring program under the auspices of the International Financial Institutions, as specified in paragraph 9 of the SMEFP.

2

Combined Second and Third Reviews Prior Action

M

Combined second and third reviews prior action.

4

2

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Amend definitions of assets eligible to meet reserve requirements to exclude cash in vaults, include foreign currency deposits and foreign liabilities in the base for reserve requirements, and expand the permissible range for reserve requirements to 0-20 percent, as specified in paragraph 8 of the SMEFP.

3

Combined Second and Third Reviews Prior Action

M

Combined second and third reviews prior action.

4

3

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

If banks are not observing as at end-September the core capital requirements applicable at end-2003, the Banking Agencies will prepare, in agreement with staff, plans for such banks indicating how they will observe those requirements by end-2003.

4

Fourth Review Prior action

M

N/A

4

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Agree bank liquidity regulations with IMF staff along with a phase-in period with monthly ceilings. Establish a regime of escalating penalties for non compliance based on the monthly ceilings. Prepare plans for all banks which are noncompliant as at end-September, indicating how compliance will be achieved throughout the phase in period.

5

Fourth Review Prior action

M

N/A

4

5

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Collect all bank by bank data on foreign currency exposure, including assets and liabilities indexed to foreign currencies, as specified in paragraph 9 of the SMEFP.

6

Combined Second and Third Reviews Prior Action

M

Combined second and third reviews prior action.

4

6

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

25.1

6.1. Financial sector legal reforms, regulation, and supervision

If the ceiling on the open foreign exchange position of the consolidated commercial banking system for end-September is not met, the Banking Agencies will prepare plans, based in understandings reached with staff, for those banks that did not meet their individual forex ceilings for end-September. The plans will indicate how those banks will adjust to observe their forex ceilings for end-December 2003. The ceilings are those defined in the "Instruction for Implementation of the decree on Minimum Standards for the Foreign Currency Risk Management of Banks" issued by the Federation and RS Banking Agencies in July 2003.

7

Fourth Review Prior action

M

N/A

4

7

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

PA

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Prepare a plan to make arrangements for domestic claims (i) so that total domestic claims will be consistent with fiscal sustainability (SMEFP paragraph 11), and (ii) spelling out specific measures for all types of domestic claims and the handling of court cases that have already been determined. (iii) This plan should be published in the government gazettes once it is agreed by all three prime ministers and , (iv) should anticipate establishment of the legal basis for its implementation by June 30, 2004.

1

Fourth Review Prior action

M

N/A

4

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.1

1.1. Revenue measures, excluding trade policy

The Entities and the Breko District will implement these laws and stop double taxation on excises.

2

Continuous

M

At time of P1R1, this sb was combined with another with 7/31/02 and continuous test date to form a single sb with continuous test date. Met for 9/30/02.

4

2

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Any changes to the current indirect tax system should retain or strengthen the principle of harmonization.

3

Continuous

M

Met for 9/30/02; 12/31/02; met for 4th review. Program ended at R4.

4

3

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.1

1.1. Revenue measures, excluding trade policy

The Breko District will amend its legislation to include excise taxes in the base for calculationg the sales tax.

4

09/30/2002

M

N/A

4

2002-09-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.1

1.1. Revenue measures, excluding trade policy

The base of the Breko District sales tax will be aligned with that in the Entities.

5

Continuous

M

At time of first review, 9/30/02 test date was changed to continuous. Met for 9/30/02; 12/31/02; met for 4th review. Program ended at R4.

4

5

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.1

1.1. Revenue measures, excluding trade policy

The two rates of sales tax in the Breko District will be 8 and 18 percent unless changes are agreed with IMF staff.

6

Continuous

M

At time of first review, 9/30/02 test date was changed to continuous. Met for 9/30/02; 12/31/02; met for 4th review. Program ended at R4.

4

6

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.1

1.1. Revenue measures, excluding trade policy

The Breko District will bring the retail units in the "Arizona" market into the tax net.

7

09/30/2002

M

N/A

4

7

2002-09-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.1

1.1. Revenue measures, excluding trade policy

There will be no offset operations for tax liabilities that are incurred after 2001.

8

Continuous

M

Met for 9/30/02; 12/31/02; met for 4th review. Program ended at R4.

4

8

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.2

1.2. Revenue administration, including customs

The customs administration in both Entities and the Breko District will introduce the ASYCUDA++ information system.

1

07/31/2002

M

Coditions source: EU Lead institution: EU

4

1

2002-07-31

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.2

1.2. Revenue administration, including customs

The Entities and the Breko District will pass laws establishing the excise attribution mechanism as previously agreed with the World Bank.

2

07/31/2002

M

N/A

4

2

2002-07-31

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.2

1.2. Revenue administration, including customs

The Entities and the Breko District will implement laws establishing the excise attribution mechanism as previously agreed with the World Bank and thereby avoid the double taxation on excises.

9

Continuous

M

At time of P1R1, 2 sbs with test dates of 7/31/02 and continuous, were combined to form this sb with continuous test date. Met for 12/31/02; met for 4th review. Program ended at R4.

4

9

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.2

1.2. Revenue administration, including customs

The commission on Value Added and Customs Administration will propose a framework of legislation governing all indirect tax legislation and administration.

10

06/30/2003

MD

Met in 7/03.

4

10

2003-06-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.3

1.3. Expenditure measures, including arrears clearance

A comprehensive strategy to clear arrears will be prepared. All arrears, including frozen foreign currency deposits, will be audited by the Supreme Auditor Institutions.

1

06/30/2003

MD

Met in 12/03.

4

1

2003-06-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.3

1.3. Expenditure measures, including arrears clearance

Bosnia & Herzagovina will not clear domestic arrears that were accrued before end-2000, pending a comprehensive strategy to clear arrears.

2

Continuous

M

Met for 9/30/02; 12/31/02; met for 4th review. Program ended at R4.

4

2

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.3

1.3. Expenditure measures, including arrears clearance

All privatization receipts accruing to the central governments of the RS and the Federation, and to the Cantons in the Federation will be placed in escrow accounts alongside all succession monies pending a comprehensive strategy to clear arrears.

3

Continuous

M

Met for 12/31/02; met for 4th review. Program ended at R4.

4

3

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.3

1.3. Expenditure measures, including arrears clearance

The Entities will make transfers to the State, at least according to the agreed cumulative monthly schedule reported in Annex 1 of the MEFP.

4

Monthly

M

Met for 12/31/02; met for 4th review. Program ended at R4.

4

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

20.5

1.5. Debt Management

The RS, and the Federation will amend their budget laws to give effect to the requirement that cantons, municipalities, and extra-budgetary funds individually shall not increase their indebtedness to commercial banks or development banks except for borrowing undertaken under World Bank programs.

1

06/30/2002

PM

Not observed in the RS, observed in the Federation.

4

1

2002-06-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

23.1

4.1. Pension reforms

The Federation pension fund will adhere to the cut-off dates for conribution collections at the end of each month as specified in the 2000 pension law. The RS pension fund will adhere to the cut-off date of the 10th of each month for contributions collect.

1

Monthly

SB

Met for 9/30/02; 12/31/02; met for 4th review. Program ended at R4.

4

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Banking supervision will be strengthened by enforcing the current prudential regulations by taking appropriate remedial actions according to the regulations in cases where institutions breach regulations.

1

Continuous

M

Conditions source: IMF/World Bank Lead institution: IMF/World Bank. Met for 9/30/02. Not met for 12/31/02. Met for 4th review. Program ended at R4.

4

1

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SB

27

8. International trade policy, excluding customs reforms

There will be no new free trade zones.

2

Continuous

M

Met for 9/30/02; 12/31/02; met for 4th review. Program ended at R4.

4

2

2023-09-23

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SPC

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Amend regulations on banks' foreign currency exposures by end June 2003 to include credits indexed to foreign currencies.

1

06/30/2003

W

The regulations were issued on July 29, 2003.

4

1

2003-06-30

N/A

506

BOSNIA AND HERZEGOVINA

963

SBA

2002-08-02

2,002

2003-11-01

2,003

2004-02-29

N/A

2004-02-25

P1

R4

L

SPC

26

7. Exchange systems and restrictions (current and capital)

Continued adherence of the Currency Board Arrangement as constituted under the law, incorporating the amendments described in paragraph 10 of the MEFP.

1

Continuous

PC

Met for 9/30/02; 12/31/02; 3/31/03; 6/30/03; 9/30/03.

4

1

2023-09-23

N/A

618

BOSNIA AND HERZEGOVINA

963

SBA

2009-07-08

2,009

2012-06-30

2,012

N/A

2009-07-08

P1

R0

E

PA

20

1. General government

Adopt amendments to the wage bill legislation by the State Council of Ministers.

1

Program Prior Action

M

Rationale: fiscal adjustment necessary for reestablishment of macroeconomic stability and ongoing viability of the currency board.

0

1

2023-09-23

N/A

618

BOSNIA AND HERZEGOVINA

963

SBA

2009-07-08

2,009

2012-06-30

2,012

N/A

2009-07-08

P1

R0

E

PA

20

1. General government

Adopt the Intervention Law in the Federation.

2

Program Prior Action

M

Rationale: enable the Federation government to initiate necessary reforms in the near horizon.

0

2

2023-09-23

N/A

618

BOSNIA AND HERZEGOVINA

963

SBA

2009-07-08

2,009

2012-06-30

2,012

N/A

2009-07-08

P1

R0

E

PA

20

1. General government

Adopt the Global Framework by the Fiscal Council

4

Program Prior Action

M

Rationale: fiscal policy coordination; reinforce the importance of adherence to established timeline for budget and medium-term budget framework elaboration.

0

4

2023-09-23

N/A

618

BOSNIA AND HERZEGOVINA

963

SBA

2009-07-08

2,009

2012-06-30

2,012

N/A

2009-07-08

P1

R0

E

PA

20.1

1.1. Revenue measures, excluding trade policy

Adopt the excise law.

1

Program Prior Action

M

Rationale: tax harmonization with EU that will also allow to compensate for some of the revenue loss from phaseout of trade taxes.

0

1

2023-09-23

N/A

618

BOSNIA AND HERZEGOVINA

963

SBA

2009-07-08

2,009

2012-06-30

2,012

N/A

2009-07-08

P1

R0

E

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Adopt rebalanced budgets by entity governments and submit to Parliaments.

1

Program Prior Action

M

Rationale: fiscal adjustment necessary for reestablishment of macroeconomic stability.

0

1

2023-09-23

N/A

618

BOSNIA AND HERZEGOVINA

963

SBA

2009-07-08

2,009

2012-06-30

2,012

N/A

2009-07-08

P1

R0

E

SB

20

1. General government

Agree on an action plan acceptable to the World Bank and IMF staffs to reform the system of rights-based transfers (Federation.)

1

11/30/2009

SB

Rationale: ensure fiscal sustainability and improve the composition of public spending.

0

1

2009-11-30

N/A

618

BOSNIA AND HERZEGOVINA

963

SBA

2009-07-08

2,009

2012-06-30

2,012

N/A

2009-07-08

P1

R0

E

SB

20

1. General government

Submit to the Parliament a Law forbidding passing of unfunded legislation (Federation.)

2

11/30/2009

SB

Rationale: ensure fiscal discipline.

0

2

2009-11-30

N/A

618

BOSNIA AND HERZEGOVINA

963

SBA

2009-07-08

2,009

2012-06-30

2,012

N/A

2009-07-08

P1

R0

E

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Publish on the State government’s web site quarterly consolidated general government accounts with a 5 week lag.

1

12/31/2009

SB

N/A

0

1

2009-12-31

N/A

618

BOSNIA AND HERZEGOVINA

963

SBA

2009-07-08

2,009

2012-06-30

2,012

N/A

2009-07-08

P1

R0

E

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Publish on the State government’s web site quarterly consolidated general government accounts with a 5 week lag.

1

Quarterly

SB

Rationale: fiscal transparency; program monitoring and ownership.

0

1

2023-09-23

N/A

618

BOSNIA AND HERZEGOVINA

963

SBA

2009-07-08

2,009

2012-06-30

2,012

N/A

2009-07-08

P1

R0

E

SB

20.8

1.8. Budget preparation (e.g., submission or approval)

Approve the rebalanced budgets by the Entity Parliaments.

1

08/31/2009

SB

Rationale: fiscal adjustment necessary for reestablishment of macroeconomic stability.

0

1

2009-08-31

N/A