E-invoicing in Bosnia and Herzegovina

Electronic invoicing, fiscal, and e-reporting technical standards are not regulated in Bosnia and Herzegovina, and the Indirect Taxation Authority has yet to implement the VAT reporting standards that other countries have taken advantage of. This is a stark difference compared to its neighbors Serbia, Croatia, and Montenegro.

Electronic invoices in Bosnia and Herzegovina

Bosnia and Herzegovina is lagging behind on the wave toward digitalization in Europe. There is also no news of upcoming e-invoicing mandates in Bosnia and Herzegovina for B2C, B2B or B2G transactions.

While there are formal requirements for invoices as per the Bosnian VAT Act, there are none for electronic invoices. This is because for the vast majority of transactions, electronic invoices are not used. Paper-based invoices are preferred by Bosnians for business transactions and they are mostly sent by fax or email.

In addition, there are some hurdles to overcome, with no regulations specifying fiscalization and initial implementations amounting to around EUR 25 million.

Benefits of e-invoicing and online fiscalization

There are many benefits that entities can capitalize on:

• Automation - This can aid in reducing human error, speeding up the invoicing process, and allowing employees to focus on fewer routine tasks.

• Cost savings - E-invoicing can help save over 60% of the time and money spent on paper invoices.

• Compliance - Through utilizing a service provider such as DDD Invoices, companies do not have to create their own e-invoicing system and do not have to deal with the bureaucracy that comes with both of these processes.

How DDD Invoices can help your business

The DDD Solution simplifies invoicing by providing an e-invoicing solution that integrates into your existing software. This allows companies to automate the invoicing process and eliminate the need for manual data entry.

We stay up-to-date with local tax regulations, so you don’t have to. Comply with e-invoicing requirements with ease through a single API. If we do not currently serve a territory where you require e-reporting, let us know, and we can develop it in 2-3 weeks. This way, we can ensure your VAT compliance with tax obligations at all times, wherever you do business.

FAQs about electronic invoices in Bosnia and Herzegovina