Bosnia probes 1,970 companies for tax evasion
Bosnian prosecutors investigate 1,970 companies who owe 151 million euros in taxes
Associated Press
2014-01-14 08:22 PM

SARAJEVO, Bosnia-Herzegovina (AP) -- Bosnia's prosecution office says it has launched an investigation against 1,970 companies who owe a total of 296 million konvertible marka (151 million euros, $206 million) in taxes.

A statement from the prosecutor's office said Tuesday a team of investigators will look into the businesses of companies from a list of debtors the tax authorities recently published. The team will look for evidence of criminal activity related to tax evasion.

The statement says the missed tax revenue is hurting the economy and public finances.

Bosnia's economy was completely devastated by the 1992-95 war and never really recovered because of political instability that has spooked international investors. The unemployment rate is over 40 percent. There almost as many people who are retired as there are in work.

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