Bosnia and Herzegovina is a country in South and Southeast Europe (Balkan peninsula). In 2016 Bosnia and Herzegovina applied to join the European Union, and in 2019 the European Commission published its opinion on Bosnia's application. In December 2022, official EU candidate status was granted to Bosnia.
Bosnia and Herzegovina has a transitional economy with limited market reforms, dominated by industry and agriculture. Main industries of Bosnian economy are motor vehicle assembly, base metals, textiles, tobacco products, wooden furniture, ammunition, domestic appliances, oil refining. International tourism has significantly increased in Bosnia in recent years, especially skiing and ecotourism.
Bosnia and Herzegovina signed 19 double taxation agreements.
Bosnia and Herzegovina didn't sign the automatic information exchange agreement and didn't indicate a timeline of the start of the automatic information exchange.
Although there is no IGA between Bosnia and Herzegovina and the United States, banking and financial entities operating in Bosnia and Herzegovina have reached the agreement with the IRS to participate in FATCA on an individual basis.
Banking sector of Bosnia and Herzegovina is dominated by foreign banks, primarily from Austria and Italy. Banks in Bosnia and Herzegovina operate as universal banks focused on serving domestic individuals and legal entities.
