BiH Indirect Tax Authority (ITA) collected KM 483mn in indirect tax revenues in January, up by KM 5mn or 1.0% compared to the same month a year ago, local media reported over the weekend referring to information from ITA. After VAT refunds, KM61m was allocated for the financing of BiH institutions, KM211m – for FBiH, KM106m for RS and KM11m for Brcko District. Last year gross indirect tax revenues increased by 4.5% y/y to KM6.6bn in 2016. Net revenues reached KM5.5bn, exceeding projections of the Macroeconomic Unit of the Governing Board of ITA for net revenues of KM5.46bn. For this year net indirect tax revenues are projected at KM5.64bn.