Gross indirect tax revenues increased by KM180m or 3.4% y/y to KM5.5bn in Jan-Oct, Bosna and Hervegovina Indirect Tax Authority (ITA) said. VAT refunds amounted to KM893m so net revenues of KM4.6bn (up by KM180m y/y) were distributed among users. Some KM623m was allocated for the financing of BiH institutions in Jan-Oct. FBiH received KM2.5bn, RS – KM1.3bn, while Brcko District — KM137m. Based on a special toll for construction of highways (KM 0.10), FBiH received KM62.4m in Jan-Oct, RS – KM41.2m and Brcko District – KM2.1m. In October alone, ITA collected indirect tax revenues of KM595m, up by KM33m compared to the same month a year ago. The Macroeconomic Unit of the Governing Board of ITA projects that net indirect tax revenues will rise by 3.6% y/y to KM5.4bn in 2016 and it seems that the target will be overshot.