The persons who have so far not been obliged to apply fiscalization, become obligated as of 1 July 2013. All the persons obliged to apply fiscalization have to enact an internal by-law, which regulates the rule of sequence of numbers on the invoices, business premises and marking of the business premises. Depending on the way of collection of payment it is necessary to ensure the corresponding technical pre-conditions for issuing of invoices or to adjust the elements of the invoice. Some tax payers are not obliged to fiscalization due to the fact that they do not need to issue invoices according to the special regulations. The changes of the special regulations have been announced for 1 July.
According to the Income Tax Act the taxation of dividends and shares in profit paid to physical persons was introduced on 1 March 2012. According to the Decision made by the Constitutional Court such a change is regarded as the retroactive change of the tax regulation. The Constitutional Court ordered to the Tax Administration to stop collecting income tax from capital (12% + surtax) in the case of the payment of the dividends and profits for the period from 2001 to 1 March 2012.
The author of the article explains the accounting for the expenses of the legalization of illegally constructed buildings, which are legalized according to the Act on the Treatment of Illegally Constructed Buildings. The article presents the expenses referring to the legalization process in accordance with the above stated Act. Besides, it provides the example of recording the expenses of the subsequent legalization of the illegally constructed building.
The article presents the expenses for fines, forced collection of taxes, damages and similar, which do not incur frequently during the operations of an enterprise. Accordingly, in the case when such business events and expenses occur, there are dilemmas whether such expenses may be recognized for taxation purposes and whether they subject to VAT payment. The expenses for the forced collection of taxes and other public payments as well as the expenses for fines due to the economic misdemeanour and infringement are not recognized as expenses in terms of taxation, whereas the expenses for damages, contract penalties and default interests are recognized as expenses in terms of taxation.
Autor: Mr. sc. Katarina HORVAT JURJEC, dipl. oec. i ovl. rač.
The expenses for education and training of employees represent business expenses of a company, which should not be regarded as expenditure only, but also as the investment due to the importance of the appropriate expertise for a company. In view of profit tax it can be concluded that the investment into education and training represents the recognized expenditure in terms of taxation. The tax regulations stimulate the investment into education, due to the fact that in such a way the amounts of taxes are reduced. This article presents the ways of decision-making regarding the expenses for education and training, including the accounting for such expenses.
Autor: Dr. sc. Đurđica JURIĆ , prof. vis. šk. i ovl. rač.
An invoice is a document which shows the emergence of a business event regardless of the name which appears in the business practice. The contents of an invoice and the obligation of issuing invoices are determined by the General Taxation Act, the Value Added Tax Act, the Companies’ Act, the Income Tax Act, the Act on Fiscalization in Cash Transactions and the Act on Catering Activities. The Value Added Tax, which becomes effective on 1 July 2013, regulates the new elements of an invoice and the new simplified invoice for deliveries valued up to the amount of HRK 700.00.
The financial reports of the parent company, which controls one or a number of subsidiaries, subject to consolidation. The consolidation of financial reports is prepared in accordance with the procedures determined by the CFRS and IFRS. After audit, financial reports are disclosed by the FINA. The consolidated financial reports for the pervious year are to be disclosed until 30 September of the current year at the latest. The process of consolidation comprises the profit and loss account, the report on other comprehensive income, the balance sheet and the cash flow reports. The financial reports also include the notes to the financial reports which provide detailed information and explanations.
Enterprises are obliged to deliver their financial reports for public disclosure until 20 June of the current year at the latest for the previous year, i.e. 6 months after expiration of the business year for those enterprises whose business year is different than the calendar year. The deadline for public disclosure of the consolidated financial reports is 30 September of the current year for the previous year, i.e. 9 months after the expiration of the business year, if their business year differs from the calendar year. Both obligations of public disclosure will be fulfilled upon the submission of the financial reports to the FINA, the web page of the FINA, through electronic media or in a written from. The author of the article describes the contents of the financial reports for public disclosure.
The way of writing off small inventory has not been determined by any regulation. This budgetary workshop comprises the recording of the acquisition of small inventory by budget beneficiaries and the methods of its writing off.
Autor: Mirela GLAVOTA, dipl. oec., ovl. rač. i ovl. rev.
This workshop on non-profit accounting deals with the recording and explanations of the accounting procedures regarding business trips of employees. In practice, there are various ways of recording such a business event, which also has to be adjusted to the case of payment in foreign currency.The main substantive regulation used upon the recognition of the above stated business events is the Directive on Accounting of Non-Profit Organizations (Official Gazette no. 10/08 and 07/09).
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
Besides the amendments to the Act on Financing of Political Activities and Campaigns the changes also comprise the corresponding Rulebook which determines keeping of the records and reporting on the persons engaged in political activities, regardless of whether such activities relate to the election campaign or are regular activities. The records and reports of such activities are different. The forms of such records and reports are defined in the latest changes of the above stated Rulebook.
The employers – salary payers and other payers of receipts, on which they are obliged to calculate, deduct and pay on behalf of a tax payer the income tax and possible contributions, have to inform on this the Tax Administration fulfilling the determined forms within the set deadlines. The equal obligation refers to the physical persons – citizens when they have received income from abroad or from another physical person (citizen). According to the valid regulations there is a specific form for each type of income, depending on its source. There is a proposal to draw up a unique form (JOPPD) which would comprise all the data on the calculated and paid contributions, income tax and surtax, i.e. all the data which are now presented in a number of forms. In order to correctly present the data in such a form it is necessary to have the corresponding knowledge in the field of taxation of receipts of physical persons and their social securities, which they acquire based on the realized receipts. The article presents the lay-out and the contents of the proposed form and the way of presenting data, in order to be prepared to apply the new way of reporting when the obligation of its application is announced.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
The institute of minimum salary is a socially protective instrument and represents the lowest minimum amount of the gross salary which is to be paid to a worker for a full-time job. All the workers employed in the Republic of Croatia have the right to the minimum salary, regardless of the headquarters or the place of registration of the employer (legal and natural persons, non-profit organizations, bodies of state administration, associations, etc.). The minimum salary in 2013 amounts to HRK 2,984.78.
Warm meals, organized for employees, represent an accounting and taxation issue, which in various versions can result in different types of expenses paid by the employer. The amount of the compensation for meals is a part of the gross salary and accordingly does not represent a non-taxable category. The article analyzes the taxation of the expenses for the consummation of meals and drinks by employees.
Autor: Anamarija Miletić , dipl. oec., ACCA i ovl. rev.
Under certain conditions employees have the right to the annual holiday according to the Labour Act. Some employees have the right to a holiday bonus, too. A holiday bonus represents the compensation paid to an employee due to his/her increased expenses during the annual holiday. A holiday bonus is the substantive right of employees, who are guaranteed such a right according to the enactments which regulate employees’ rights. In terms of taxation, a holiday bonus may be regarded as a non-taxable compensation, but the amount to be paid may be taxed, whereas the payment of the compensation of salary during the annual holiday is regarded as taxable income without exceptions.
After the accession of the Republic of Croatia in the European Union, the VAT system will be changed. So far the delivery of goods in the EU member countries has been regarded as exports, which will not be the case after the accession. Such a delivery of goods will practically be regarded as two separate transactions – as the delivery in the EU which is VAT free and as the acquisition within the EU which subjects to VAT payment. The article presents the above stated transactions, i.e. the delivery of goods in various business combinations such as sales, lease, transfer into company’s own warehouse in another member country and the way of their taxation within the EU.
The correct determination of the place of delivery in order to avoid the conflicts regarding the tax jurisdiction of the EU member countries is extremely important due to the fact that the VAT represents the revenue of the state budget in each member country. This is also important in order to avoid double taxation of certain transactions. The determination of the place of delivery implies the possible obligation of registering the person who will be obliged to pay the VAT in the area of another member country which has been determined as the place of taxation. Therefore, it is necessary to define where and to whom a certain delivery is to be made, the type of the delivered goods, whether such a delivery is performed by transportation vehicles within the European Union and whether such a delivery includes transportation or not, in order to correctly determine the place of taxation upon delivery of goods.
Due to the financial crisis, the fiscal cash register has become more sensitive to the possible income deficits accompanied by the increased expenditures for repayment of debts, social transfers and similar expenses, which each state has in the critical times, seeking the new reasons for increasing tax liabilities. One of such liabilities may incur due to the insufficiently determined rules on the business transaction between affiliated persons – residents and non-residents. In such a context there are the rules and the documentation regarding transfer prices. Each company which have such transaction has to have the corresponding documentation on transfer prices, which has to be prepared in the way that the tax inspection can clearly comprehend the way of determination and the explanations regarding transfer prices among affiliated companies. The author of the article presents the specifics of the transfer prices in the EU member countries.
The Act on Collection of Tax Liabilities of Physical Persons is one of the acts whose aim is to reduce the tax debt of the citizens, i.e. the physical persons who stopped performing the activities on the date when this Act became effective. The Act became effective on 9th May 2013. The claims for re-programming of the tax debt may be filed within 90 days, i.e. until 9th August 2013.
The identification and dealing with the findings of audit is one of the major responsibilities of an auditor and represents a key step upon the creation of the auditor’s opinion about the financial reports. The auditor should require from the management to correct the identified errors and should expect from the management to act accordingly, except in the case when the finding is irrelevant. The article analyzes the effect of the uncorrected errors on the creation of the auditor’s opinion.
1. Prijedlog standarda 2. Cilj standarda 3. Djelokrug standarda 4. Priznavanje, mjerenje i smanjenje vrijednosti 5. Klasifikacija reguliranih odgođenih stanja na računima 6. Poziv za komentiranje prijedloga standarda
The basis of the European Union makes up the common market and the customs union. The common market comprises the free movement of goods, the common trading policy and the common agricultural policy. The customs union comprise the common customs regulations and duty-free trade between the EU member countries. Accordingly the revenue from the customs tariffs represents the common revenue of the European Union. Upon the accession of the Republic of Croatia in the European Union, the national customs regulations and the legislation which determines the trade issues with the third countries become ineffective and the application of the common customs regulations of the European Union begins.
The participation in the inner market of the European Union leads to the further liberalization of trade in the Republic of Croatia, providing greater opportunities to business people and consumers who have the right to the final choice of the product which is primarily based on the technical requirements for safety regardless of its origin. The service providers who have their headquarters registered in the Republic of Croatia may render their services on the entire European economic territory, under the same conditions as other service providers, without the obligation to register their headquarters again. The article presents these two important issues regarding the trade on the inner European market.
Europska komisija, kao izvršno tijelo EU, detaljno analizira situaciju i definira potrebe pojedinih zemalja, uključujući i Hrvatsku. U svom prijedlogu područja koja bi se trebala financirati iz fondova, izlaže brojne izazove s kojima se Hrvatska trenutačno suočava, kao što je kontinuirani pad BDP-a od 2008., nekonkurentnost gospodarstva, smanjenje izvoza, minimalna inozemna izravna ulaganja, nepovoljno okružena za ulaganje, stalan porast nezaposlenosti, rastući migracijskim trendovi prema razvijenijim gradskim središtima itd. Kako bi Hrvatska kao buduća članica mogla pridonijeti ciljevima strategije „Europa 2020“, spomenuti izazovi s kojima se suočava moraju biti na vrijeme rješavani. Kako, o tome u nastavku. 1. Uvod 2. Prioriteti financiranja u sklopu ESI fondova s obzirom na 11 razvojnih tematskih ciljeva Europske unije 3. Zaključak
Autori: Ana FRESL, dipl. oec. i MBA Mr. sc. Hana KOLIĆ , dipl. oec.
1. EU dogovara zajednička pravila za hipotekarne kredite 2. EU želi da kompanije objavljuju i nefinancijske informacije 3. Porezni trendovi u EU 4. Erasmus za mlade poduzetnike 5. Jednostavnije priznavanje dokumenata 6. Odobrena nova stroga pravila za banke
Due to the fact that the Republic of Croatia becomes the member of the European Union on 1 July 2013, most of the passed regulations will be applied as of this date. This also comprises the direct application of the directives of the EU after the accession. The author of the article analyzes the payment transactions and the novelties, which are to be applied at the beginning of June or on the date of the Croatia’s accession in the EU.
The Rulebook on Additional Activities on Family Farms determines the types of additional activities and the way in which such activities may be performed on the family farm, including the conditions for entry in the Register of Additional Activities. Besides the main activity, a family farm may perform one or more additional activities, whereby the permitted average annual income from the additional activities may not be higher than 50% of the total annual income of the family farm. The performance of the additional activities should be entered into the Register of Additional Activities at the authorized office of the Agency for Payments in Agriculture, Fishery and Rural Development.
As of 1 July 2013 the provisions of the Trade Act regarding the operations of foreign representative offices in the Republic of Croatia, founded by the persons from the European Union, stop being effective. Such representative offices have a number of possible ways of reshaping – a company, a branch office, a sole trader. The representative offices founded by the persons outside the European Union have to apply the provisions of the above stated Act.
Due to the coming summer season and the time to use annual holidays, there are frequent questions regarding the legislation and the way of using the annual holiday. This article provides the replies to the questions such as how to determine the duration of the employee’s annual holiday, in which case does the employee have the right to the full-time and in which case to the proportional annual holiday, how to use the annual holiday in parts, in which cases should the holiday bonus or the compensation for the unused annual holiday be paid to the employees and a number of other questions which appear in the practice. The article also presents a part of the labour rulebook, which could regulate the use of the annual holiday in the entire company, including the overview of the relevant court practice regarding the above stated issues.
The health insurance system in Croatia comprises the right of the parents – insured persons to the accommodation in the hospital together with the child on medical treatment, During this period, as in the other cases of inability to work due to the child care, one of the employed or self-employed parents has the right to the compensation of salary. The compensation paid by the employer to an employee in such a case is reimbursed by the Croatian Institute for Health Insurance. In case of the care of the child up to 3 years of age the salary to the amount of the averagely paid salaries in the past 6 months is paid, before the month when the sick-leave started, For the care of the child older than 3 years, the salary to the amount of 70% of the above stated average is paid, in relation to the period of exercising such a right.
U ovome se članku razmatraju pitanja vezana za institut otkaza ugovora o radu, kako izvanrednog tako i redovitog, kao pitanja uvijek bitna i aktualna. O svemu tome detaljnije u nastavku, s napomenom da je ovo sudska praksa novijega datuma te u potpunosti aktualna i u primjeni sada važećeg Zakona o radu. 1. Uvod 2. Izvanredni otkaz ugovora o radu 3. Redoviti otkaz ugovora o radu zbog skrivljenog ponašanja
The right of employees to the annual holiday is determined by the Labour Act as the main regulation in the field of labour. Besides the Labour Act, such a right may be determined by the collective agreement, the labour rulebook and the contract on employment. In the state and public services the right to the annual holiday is determined by the provisions of several collective agreements. The article presents such collective agreements and the way in which the above stated right has been determined.
Autor: Mirela GLAVOTA, dipl. oec., ovl. rač. i ovl. rev.
The right of employees to the paid annual holiday may be regulated by the Labour Act, as the main regulation in the field of labour, the collective agreement, the labour rulebook and the contract on employment. If the collective agreement has not been signed, such a right may be determined by the decision as the general enactment of the representative body of the unit of self-government in accordance with the general labour regulations.
The public procurement of legal services represents one of the questions which are often made by the clients. The questions refer to the procedure of public procurement of legal services, the types of legal services which can be obtained in the process of public procurement, the way of conducting such a procedure and all the other questions regarding the realization of the contract on representation signed with lawyers.
In practice there are often dilemmas regarding the interpretation of the term of the valid proof of no criminal record for the economic entities with their headquarters in the Republic of Croatia, which leads to the legal insecurity. Therefore, this article explains the so-called “statement of no criminal record” within the framework of the Act on Public Procurement, taking into consideration the Act on Public Notary Services, the opinion of the Administration for the Public Procurement System of the Ministry of Economy and the practice of the State Commission for the Control of the Public Procurement Procedures.
U svjetlu najnovije rasprave 17 ministara financija eurozone o Grčkoj, Cipru i susjednoj nam Sloveniji u Bruxellesu 13. svibnja 2013., otkrivamo i ovdje u bitnome prenosimo razmišljanja njemačkog ministra financija Wolfganga Schäublea (70 g.) objavljena u intervjuu u magazinu WirtschaftsWoche1 pod naslovom „Ekonomska shizofrenija“. Schäuble je političar i član Kršćansko-demokratske unije (CDU) koji je u Bundestagu još od 1972. i time jedini zastupnik koji je u parlamentu već u desetom mandatu. Neke misli zasigurno će biti zanimljive i za našu stručnu javnost, stoga preporučujemo da pročitate ovaj članak. 1. Obrana eura 2. Europska središnja banka i kriza 3. Bogati jug – siromašni sjever? 4. Nijemci ipak omiljeni 5. Cipar 6. Stabilnost valute 7. Utaja poreza 8. Dobro zarađuje uvijek „netko drugi“
1. Usporedni pregled 2. Cijene u RH i EU 3. Proizvođačke cijene industrije RH i EU 4. Industrijska proizvodnja 5. Vanjskotrgovinska razmjena 6. Trgovina na malo 7. Turizam 8. Plaće 9. Likvidnost i insolventnost 10. Zaposlenost i nezaposlenost
