The usual practice is to use cars and other means of transportation, which belong to the company's business assets, for business and private purposes. This is the reason why the expenses arising from the use of motor and other vehicles are according to tax regulations not recognized as business expenses to the total amount. If they are recognized as business expenses to the total amount, the expenses arising form the use for private purposes are to be paid in kind. The other income in kind can be calculated upon use for private purposes of the person who is not a company's employee. The article describes the procedures upon use of motor and other vehicles for private or business purposes of an employee or other person when they represent the basis for determination of the receipt in kind.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
In practice there are frequent questions regarding the ways of giving gifts and donations, the persons who can obtain them, the recording of such events in business records and the tax position of donations. The article explains the term donation, stresses the difference between sponsorship and donation and presents recording of the given donations. The article also presents the conditions to be fulfilled for the donation to be recognized as expenses in terms of taxation.
Autor: Mr. sc. Katarina HORVAT JURJEC, dipl. oec. i ovl. rač.
The author of the article analyses the accounting and tax viewpoints of writing-off long term tangible assets and stresses the importance of collection of all the corresponding records for removal of such assets from the company's business records.
Foreign exchange transactions can be performed according to the regulations on foreign exchange transactions. They refer to the purchase and sales of foreign currency and cheques in foreign currency. Besides banks, foreign currency transactions can be performed by authorized exchange office. They can be legal or physical persons. Their work i.e. the technology used, is clearly defined and all the authorized exchange offices have to respect these rules. The authorized exchange offices use the software which generates forms and reports that represent the basis for presentation of foreign currency transactions in their business records.The article gives a review of foreign currency transactions in bookkeeping in accordance with the Accounting Act.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
The contemporary management uses the accounting information to the maximum in order to make conclusion, evaluations, estimates and forecasts in a clear and understandable way.The co-operation with controlling already begins upon preparation of the company's accounting plan. If data are correctly distributed and well-segmented, the controlling will create clear business reports of high quality. The co-operation among controllers, IT specialists and accountants is crucial. It comprises the area of cost management upon creation of the most cost-efficient product.
Autori: Mr. sc. Jasmina Očko Andreja Švigir, dipl. oec.
The author of the article analyses the issue of wheat production in an agricultural company. The farms which keep the books in the same way as companies have to act in the same way. Besides the classical agricultural production the article deals with the bookkeeping of wheat sales in other company's warehouse and collection of rental fees through wheat sales in somebody else's name and on somebody else's account.
The author of the article presents the recording procedures in budgetary accounting referring to the business transactions according to the contract. The article also includes the transactions of collection of payment by credit cards.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
The author of the article presents the recording procedures in non-profit accounting regarding the business transactions of used up fuel and return of unused. gift.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
All the non-profit organizations were obliged to register themselves at the Register of Non-Profit Organizations within the Ministry of Finance. Upon registration the non-profit organizations had to report their book-keeping system and to deliver financial reports.The article presents the procedure of drawing up semi-annual financial reports by non-profit organizations.
Autori: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev. Mirela GLAVOTA, dipl. oec., ovl. rač. i ovl. rev.
According to the Act on Minimum Salary the State Bureau of Statistics published the amount of minimum salary which totals 2,814.00 HRK for the period from 1 June 2009 to 31 May 2010. This amount is to be used for the first time upon determination of the salary for June. The enterprises which pay salaries in the current month for the previous month will use the above stated amount for the payment of salary for June paid in July. The minimum salary represents the cost of labour for the least complex work. The salaries for more complex work are determined by application of the co-efficient of complexity of work defined in collective agreements, labour rulebooks and other company by-laws referring to the minimum salary.
The non-taxable amount of holiday bonus paid to the employer is 2,500.00 HRK if such a right has been determined in the collective agreement, labour rulebook or the employer's decision. It should be taken into account that the non-taxable amount of 2,500.00 HRK is limited to a tax period and can be divided into several incomes, from which one represents a holiday bonus. Besides, there is a possibility to give gifts in kind up to the amount of 400.00 HRK including VAT, without annual taxation, which can be used as income for holiday bonus. The article deals with the procedures of holiday bonus payments, the calculation of taxes and contributions if the gift is given in kind or paid in cash and/or in kind above the non-taxable amount or value and how to record this in book-keeping.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
According to the provisions of the Companies' Act the status changes comprise the increase of the company's share capital, joining of a company, acquisition and merger, division of a company and change of the company's form. Shareholders and owners of business stakes have the right to participate at the company's assembly and to make decisions, to be paid a dividend or a share in the profit of a limited liability company and to sell the shares or business stakes. Through realisation of the status changes the above stated rights can be increased, decreased or remain the same. The article explains the audit of a share capital and states the example of the report prepared by an certified auditor.
Avoidance of tax liabilities and tax evasion are not some new issues. They have appeared in different forms along with the development of social communities. The difference between the tax avoidance and tax evasion is rather small. Accordingly, tax avoidance can easily become tax evasion.
FormA tax card represents a document which contains the data about a specific tax payer, according to which the employees and other persons who earn their salaries i.e. income from non-independent work obtain the right to personal deductions. Since the beginning of income taxation, i.e. since 1 January 1994 when the income taxation started to take into consideration the family status of a tax payer, which resulted in tax exemption of a part of the income depending on a number of supported children and other family members, the tax card has been changed in view of its contents and form. Due to the fact that a tax card represents an important document, according to which the amount of a personal deduction is determined. It is often important in its retro-active use or the analysis of the effect of the personal deduction on the taxable income part. The article presents the chronology of application of personal deduction including the changes of tax cards.
Between resident affiliates the prices of delivered goods and services can be freely determined according to the conditions stated in particular contracts. Free determination of prices are not affected by the regulations of the profit tax either. However, this is only applicable if both companies are operating under the same tax conditions, i.e. that neither of them uses the regulated tax benefits. The prices are to be determined in the way that the profit belongs to the company which pays less taxes due to economically justifiable reasons. In view of the transactions between residents and non-residents, the determination of a tax base and the possible decreased risk for tax payment, it is important to be acquainted with the provisions of the Profit Tax Act, the international contracts on avoidance of double taxation and directives on transfer prices. The article deals with the issue of interests.
The financial reports in Croatia are frequently obliged to include the data on selling services abroad. Until the end of 2007 it was necessary to include the data on income from the sales of products and services abroad (Form GFI-POD, AOP 098) and since 2008 the data on income from sales abroad (Form POD-DOP, AOP 233).Upon filling in the above stated form it is important to distinguish between the term of services and the term of selling services abroad.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
Promišljanja o primijenjenim postupcima dovodi nas u dvojbu: poznajemo li dobro propisana određenja i kako to drugi rade?
U okviru ove rubrike iznosit će se sudska praksa i stajališta državnih tijela u vezi s primjenom propisa u pojedinim zemljama EU. Riječ je o praksi iz Austrije i emačke te Europskog suda. Kako su njihovi propisi usklađeni sa smjernicama i uredbama EU, nadamo se da će iznesena praksa pobuditi i naše zanimanje te unaprijediti našu zakonodavnu i stručnu praksu. U nekim slučajevima može biti odatan argument u rješavanju raznih sporova u nas.
Prikazana praksa samo je mali izbor u odnosu na šire objave koje stalno dajemo u našem časopisu "Pravo i porezi".
The technique of credit card transactions in crafts business and free professions – income tax payers – is the same as in the enterprises which are profit tax payers.The article analyses the specifics of credit card transactions in crafts business and free professions – income tax payers – from the taxation viewpoint, including the recording of business events referring to credit card transactions in the Book of Cash Disbursements and Receipts.
Autor: Mr. sc. Đurđica JURIĆ, dipl. oec. i ovl. rev.
The new Rulebook on minimum technical and other conditions referring to outlets, equipment and assets in outlets and the conditions for sales of goods outside the store came into effect on 16 June 2009. This Rulebook replaced the old Rulebook on minimum technical conditions for business premises engaged in sales activities. Compared to the old one, the new Rulebook does not list in detail all the ways and forms of selling goods in particular types of outlets and introduces a new division or classification of outlets according to the defined common characteristics in accordance with the Rulebook on classification of stores and other retail outlets.
The new Rulebook on minimum technical and other conditions referring to outlets, equipment and assets in outlets and the conditions for sales of goods outside the store came into effect on 16 June 2009. This Rulebook replaced the old Rulebook on minimum technical conditions for business premises engaged in sales activities. Compared to the old one, the new Rulebook does not list in detail all the ways and forms of selling goods in particular types of outlets and introduces a new division or classification of outlets according to the defined common characteristics in accordance with the Rulebook on classification of stores and other retail outlets.
The Act on Obligatory Health Insurance, which became effective on 1 January 2009, has so far not been amended by the Rulebook on rights, conditions and ways of exercising rights from obligatory health insurance. Applied were the provisions of the Rulebook made according to the previous Act on Obligatory Health Insurance. The new Rulebook does not substantially differ from the old one, except for some novelties referring to the compliance of the new Act.The collaborators from the Croatian Institute for Health Insurance write about the above stated novelties.
If a child needs increased care due to its health condition and development, one of the parents has the right to reduced working time until the child's third year. The Rulebook on conditions and procedures of obtaining rights to reduced working time due to increased child care was made according to the Art. 16, §2. of the Act on Maternity and Parental Subventions.The above stated Rulebook determines the conditions and procedures how the employed and self-employed parents and foster parents can exercise their rights to reduced working time due to increased child care until the child's third year.
The regular local elections for representative bodies in the units of local and regional government are held every four years on the third Sunday in May. This year the elections were held on 17 May 2009. After the elections the competent electoral committees of local and regional government determined the results of the elections for the members of the representative bodies based on the votes in all the polls in the units. After the official results of the elections are published by the competent electoral committee the representative bodies of the units of local and regional government are constituted.
U dva mišljenja FINE iznose se neka pitanja koja su se pojavila u strukovnoj praksi. Tako je FINA dala mišljenje povodom pitanja o tome trebaju li mali poduzetnici izrađivati godišnje izvješće o stanju društva sukladno odredbama Zakona o trgovačkim društvima (Nar. nov. br. 111/93 do 146/08). O tome smo i mu u okviru naše web stranice već dali naše stajalište da mali poduzetnici NISU obveznici sastavljanja GODIŠNJEG IZVJEŠĆA jer Zakon o računovodstvu (Nar. nov. br. 109/07), kao specijalni zakon u području financijskog iszvješćivanja poduzetnika, ne predviđa takav izvještaj za javnu objavu niti potrebu dostave istog u FINA. Detalnjije o tome pročitajte u nastavku.
