The long term assets are classified as assets aimed at sales if the conditions for such classification have been fulfilled according to the CSFR no. 8 i.e. the ISFR no.5. This group comprises the long term assets the value of which a company plans to make up through sales and not through their utilization. This article deals with recording of the long term assets aimed at sales.
Commercial agencies as mediators in purchase and sales of goods represent a wide spread way of sales of goods. According to the contract on representation a commercial agency acts on behalf of and on the account of other person, realizing its earnings from the commission. The article deals with the legal regulations, the accounting records and the tax position of commercial agencies within the VAT system, the profit tax and the income tax.
Although coupons have been used in business practice for years, their initial purpose was a gift to employees in kind. Nowadays, gift coupons have become more important as an appropriate way of giving presents especially atg Christmas, Easter and other holidays or occasions.This has the advantages to the buyer of the gift (he/she does not have to think about what to buy) as well as to the gift recepient (who independently chooses the gift to the amount of the coupon). From the aspect of the company which has issued the gift coupons, they represent a source of liquid reserves.
The expenditure of a business entity is an important factor in its business operations in the conditions of the market-oriented economy with the primarily private ownership, since their expenditure amounts have a direct impact on the business efficiency. In the conditions of the market oriented economy with a substantial degree of competition the market price cannot be determined by including all the factors which emerged during production, without taking into account their values, which means that the market does not accept the unjustifiably high expenditure of the factors. Therefore, the role of the business entity is to take more care of the expenditure of the factors, i.e. business expenses, thus directly affecting its efficiency.
Besides the annual financial reports for the year of 2007, which are prepared according to the International Standards of Financial Reporting (ISFR), it is necessary to prepare the quantity and quality data on financial instruments. Such a requirement is stated in the ISFR no.7 – Financial Instruments: Presentation, which is to be applied for the first time for the business year of 2008 by all the companies which apply the ISFRs. The article presents an example of presentation of financial instruments which should be adjusted by each company in view of its type of financial instruments and risks.
In the RRiF Magazine no. 5/08 the first part of the article was published. The second part deals with the calculation of investments, the financial reports of calculations, the calculation of business operations, the accounting reports of the management, the analysis and control of deviations and the conclusion.
The CSFR no. 2 – Consolidated Financial Reports requires the depreciation of goodwill, whereas the ISFR no.3, applied mostly by large companies and the companies with listed shares or whose shares are to be listed, does not allow such a procedure of the value compensation of goodwill. According to the Rulebook on Profit Tax the depreciation of goodwill is not recognized as tax expenditure, which puts the tax payers in an unequal position in view of the number i.e. the system of the accounting rules which are to be applied upon drawing up of financial reports.
There are two acts which regulate employees’ rights within the obligatory health insurance: the Act on Obligatory Health Insurance and the Act on Obligatory Health Insurance of Health Protection at Work which has been applied since 1 January 2008. This Act specifically regulates the employees’ rights in case of illness and maternity leave including their rights in case of accident at work and professional illnesses. This article deals only with the rights of employees working for legal and physical persons within the framework of the obligatory health insurance according to the Act on Obligatory Health Insurance in case of illness, child care or spouse care.
Instead of awards in cash, shareholding companies i.e employers can make a decision on awarding their employees or members of the management board by giving them a share in profit or the company’s own shares or providing them with the opportunity to buy optional shares. Such a type of awarding is typical of shareholding companies after the adoption of financial reports and the determination of the company results. In some cases a company makes such a decision independently on the results of the business year. This article deals with the taxation of such benefits by employers.
At the meeting held on 7 May 2008 the representatives of the Government of the Republic of Croatia, the Croatian Employers’ Association and the leaders of six trade unions reached a consensus on passing the Billon Minimum Salary. The Government of the Republicof Croatia forecasts that the above stated Act will enable to 7.6% of the employed people in the Republic of Croatia to earn a salary which will ensure to them and their families a free and decent life according to the Art.55 of the Constitution of the Republic of Croatia. This article deals with the issues as to why the Act on the Minimum Salary is necessary including the changes of salary calculations.
Upon evaluation of an investment project dynamic and static approaches are applied to the measuring of an investment project efficiency. This article deals with the above stated approaches, definitions of indicators and their application.
Predmet ovog članka su neka pravna pitanja, neki pravni problemi u vezi s valjanošću pojedinih ugovornih odredaba koje su standard u svim ugovorima banaka i drugih financijskih institucija. Riječ je o odredbama koje bi u svim drugim slučajevima (da je umjesto banke neki drugi pravni subjekt) neprijeporno bile proglašene ili utvrđene ništetnima, s nizom građanskopravnih i kaznenopravnih (osobito onih glede zelenaštva) posljedica.
Uvod
Pravni izvori
Tumačenje ili interpretacija u pravu
Povijesni pregled
Postavljanje i raščlamba problema
Zaključak
Autori: Prof. dr. sc. Hrvoje KAČER Marijan MILETIĆ, dipl. iur.
The income tax is a rather complicated tax since the amount of the tax base is determined for each taxpayer according to his/her marital, health, social and other status. Due to the fact that it is obligatory for all physical persons– citizens who make a GDP of their country, the determination of the taxation instruments is a touchy topic and affects the entire economy. Therefore, one of the ways to reduce the tax burden is a tax relief of some receipts, which can considerably influence not only the social status of the tax payer but also the economic and social trends in the country. This article deals with the above stated regulations according to the Croatian Income Act.
A taxpayer must participate in the taxation system by providing a fair and true presentation of the facts important for the proper taxation, acting in good faith. Tax liabilities are determined in two ways: decision or tax report submitted by the taxpayer. This article deals with the formal (procedural) part of the tax supervision.
At the session held on 9 May 2008 the Croatian Parliament passed the Act on Personal Identification Number which is to be applied from 1 January 2009. According to this Act the personal identification number is a permanent mark of each person in the Republic of Croatia, which will be used upon entering in all the official personal and property records. The public authorities will thus be able to swap the information they have in their official records. The introduction of the personal identification number as an obligatory mark of each person in front of the government bodies represents the fulfillment of the essential pre-condition for the development of the complete economic system in the Republic of Croatia.
Autori: Mr. sc. Marijana VURAIĆ KUDELJAN Mr. sc. Zlatko FABIJANČIĆ
The authorized body for the taxation of profit in Bosnia and Hercegowina is the Entity i.e. the Federation of Bosnia and Hercegowina and the Republic of Srpska.The article deals with the review of the regulations which are to be applied by the business entities – companies operating in the above stated area. It refers to the companies which are present or have branch offices in Bosnia and Hercegowina, as well as new investors. The article presents the latest taxation system of companies.
The acceptance of the concept of the consolidated profit tax base for the companies operating over the border should enable that the profit of the entire corporation (subsidiaries) is calculated according to the unique regulations and that the consolidated balance sheet is prepared. After that, such a unique tax base of the European corporations, calculated by the application of the common system of calculation, should be divided on the EU member states. Afterwards, the member states can apply their national tax regulations on the appropriate part of the total tax base and collect the corresponding tax. The key elements, which have to be explained in order to implement the consolidated profit tax base onthe European subsidiaries over the border, comprise the definition of the group to be consolidated, the definition and calculation of the corresponding profit, the key of profit distribution and the authorized tax office.
The article presents a review of the existing harmonized system of taxation with excise duties in the European Union. It analyses the most important excise duty institutes such as the system of delayed payment of excise duties, the procedure of the movement of the excise goods within the EU member states, the prescribed forms (AAD and SAAD) which monitor the movement of excise goods, the excise duty receipts, the excise goods warehouse, an authorized keeper of the excise goods warehouse, a registered trader or a registered recepient, a non-registered trader or a non-registered recepient, a tax representative, the emergence of excise duties, tax reliefs, the procedure of excise duties return, misdemeanour or illegal acts, etc. The article comprises all the groups of excise duties (energy sources and electricity, alcohol and alcoholic drinks and tobacco products) which are regulated by the specific guidelines from the position of the taxed item, aminimum value of the excise duty and tax releifs whichthe EU countries must tax.
Craftsmen, the persons engaged in free professions and the persons engaged in agriculture and forestry, according to which they are tax payers, are also obliged to pay health and pension insurances, if they are not insured on some other grounds. Within the pension insurance they have the right to the insurance and pension and within the obligatory health insurance and the obligatory health protection at work they have the right to health protection and a compensation in case of inability to work due to some illness, injuries, injuries at work and maternity leave. The rights from the above stated insurances are financed from the contributions which the insured persons pay on the determined base according to the decision of the tax office. This article deals with the exercise of one’s right to the compensation and the way of determination of the compensation during the sick leave of the above stated insured persons.
The way, the bases and payment terms of contributions to chambers of crafts and trades are determined in the Decision on taxpayers, base, amount and tax rateas well as the way and terms of contribution payment to the Croatian Chamber of Crafts and Trades. The contribution to the chambers of crafts and trades are thus paid by the craftsmen – physical persons who perform the registered activities in accordance with the Act on Crafts, individual traders as well as companies and other legal persons who voluntarily became members of the Croatian Chamber of Crafts and Trades.
Autor: Mr. sc. Ljerka MARKOTA, dipl. oec. i ovl. rač.
The new Rulebook determines the associated craftsbusinesses, a degree and type of education necessary for their performance and provides the list of the privileged crafts businesses and the way of issuing privileged licenses. The provisions of the Rulebook required the compliance and adjustment of some new professions which appeared in practice. The main reason of drawing up of the new Rulebook is the application of the new National Classification of Business Activities 2007– NCBA. The application of NCBA – 2007 as a standard to the statistical system of Croatia, including its economy, the State Bureau of Statistics has compliedone segment within the area of the official negotiations with the European Union.
Autori: Mr. sc. Ljerka MARKOTA, dipl. oec. i ovl. rač. Mr. sc. Olga LUI
According to the new Act on Catering Activities and the Act on Provision of Services in Tourism as well as the regulations based on these acts various deadlines of compliance to the acts and regulations have been determined including a different application of the regulations. The article deals with all the deadlines of compliance in catering and tourism industries, stated in the transitional and final provisions of the above stated acts and rulebooks.
In a specific period of the year a company may have various volume and intensity of operations, depending on the type of its business activities. Along with the increased volume and intensity of operations there is a growing need for a larger number of workers. Besides the fact that in such a case employers may sign with workers the contract on temporary employment or the contract on temporary employment for the permanent seasonal work, they can also, under certain conditions, send their permanent employees to a new place of work during the peak season. This article deals with the problems which may arise and the liabilities and possibilities of taxable or untaxable salary payments.
The Act on Pension Insurance, which regulates the system of obligatory pension insurance on the basis of generation solidarity (the so-called first pillar) has been applied since 1 January 1999. In the period of ten years the above stated Act has had more or less significant amendments. This proves that, that the application of the Act has shown the sustainability of its system solutions but also the need of full development of specific institutes and adjustment to the Croatian legislation, i.e. the compliance of the pension insurance system to the economic and social trends in the country. At the session held on 14 March 2008 the Croatian Parliament passed the Act on Amendments of the Act on Pension Insurance which came into effect on 28March 2008. The article deals with the contents of the above stated amendments of the Act.
