Računovodstvo, revizija i financije

Računovodstvo, revizija i financije



rrif - 6.2019, str. 9

Operations of Providers of Construction Services from Accounting Viewpoint

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      Accounting for operations of providers of construction services for the entities which subject to the IFRS is regulated by the IFRS 15 – Revenue from Contracts with Customers, whereas the entities which subject to CFRS the accounting procedure is regulated by the CFRS 15 – Income and the CFRS 16 – Expenditures. The author of the article explains the rules upon determination of income and expenditure by providers of construction services and the rules of determination of liabilities for VAT on the provided construction services. Besides, the article presents the accounting and tax viewpoints of provisions for the granted guarantees and the contract penalties for retained payments in the case of providers of construction services.

Accounting for Investments in Other Party’s Assets

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      Business practice creates various ways of achieving business goals, performing activities and acquiring income. The limitations of one’s own sources of financing and business opportunities lead result in the specific business relationship, which enables to both parties to create benefits, which justify the investments i.e. the lease or the joint use of the same property.
      The most common cases of investments comprise the field of real estate when one party rents the real estate to another party who then decorates it and uses it. The other cases refer to the activities when the owners of machines, means of transportation or industrial plants which require additional investments in order to be used rent them to acquire income or to use them by both parties.
      The article explains the legal, taxation and accounting regulations referring to the above stated issues.

Consolidation of Financial Reports for 2018

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      Parent companies of large and medium-sized groups are obliged to prepare consolidated financial reports. Consolidated financial reports are prepared with the aim of public disclosure. They do not require the submission of the decision on distribution of profit or loss coverage. Consolidated financial reports for the previous year are to be submitted to FINA until 30 September at the latest.

Infringements due to Non-Submission of Annual Financial Reports

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      The author of the article presents the infringements regulated by the Accounting Act referring to the enterprises which have not submitted their annual financial reports to FINA until the determined deadline for the purpose of statistical processing and public disclosure. In addition, the article states the cases in which it is possible to make corrections of the annual financial reports which have already been submitted to FINA.  

Frequently asked questions in business practice

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      This part provides the answers to the frequently asked questions in the fields of accounting and taxation in business practice. The questions refer to the preparation of annual financial reports for the company in the process of liquidation, costs of provisions for granted guarantees, delivery of goods and services by foreign tax payers in the Republic of Croatia, VAT calculation on booking services, costs of using vehicles on a business trip and subsidies in the case of a worker’s death.

Collection of Income and Withdrawal of Cash

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      The collection of income by means of the POS device depends on whose income is collected, the type of income to be collected and whether the person owns the transaction account. The charged commission should also be taken into account. Withdrawal of cash can also be made in various ways and accordingly differently registered in the Ledger. The business events which do not exist should not be registered only because they are often registered in practice.  

VAT on Short-term Assets

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      The non-profit organisation within the VAT system takes over the obligation of VAT calculation due to the received construction services and should be informed whether such VAT may be recorded as receivables for pre-tax, i.e. whether it can be considered as recognized or not. In the case when a non-profit organization uses certain objects to create other objects it represents the production activity. Accordingly, the objects purchased for the production cannot be immediately recorded as expenditure, but later, when the sold products which are made from them have been sold. However, it is questionable whether under such circumstances the book accounts in which the production process is presented should be used.

Right to and Lack of Severance Payment

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      The contract on employment may be terminated by the employer or the employee, The right to severance payment is determined by the Labour Act and other corresponding regulations. The Act on Income Tax and the Rulebook on Income Tax regulate whether the specific severance payment is to be taxed or is such an amount non-taxable in view of the calculation of income tax and surtax. The article presents the cases of termination of the contract on employment when the employee has the right to severance payment, including the cases when such an amount subjects to taxation or is non-taxable. 

Recruitment by Employer with Company Headquarters in Foreign Country

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      Persons resident in the Republic of Croatia can establish a work relationship with an employer with a registered headquarters in another country and remain in the social security system in the Republic of Croatia. Since the accession of the Republic of Croatia to the European Union, when the Croatian social security system was complied with the EU social security system, there has been a difference between establishing a work relationship with an employer based in the European Union and EEA countries in relation to the third countries. It is important to know that a person can work in the Republic of Croatia according to the  employment contract with an employer based in the EU or EEA and remain within the social security system in the Republic of Croatia but in that case the employer is obliged to pay contributions according to the Croatian legislation. In the case of a person working under a contract with an employer who has a head office in a third country, the contributions are to be paid by the person him/herself according to the corresponding decision obtained from the Tax Administration.

Taxation Viewpoint of Sales of Single-Purpose Vouchers

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      The author of the article analyses the taxation viewpoint of sales of single-purpose vouchers in view of the seller and mediator and presents the examples of accounting for the above stated sales and use of such vouchers. In the next issue, the taxation viewpoint of multi-purpose vouchers will be analysed in view of the seller and mediator.

Signing Administrative Contract on Payment of Tax Debt in Instalments

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      According to the General Tax Act, tax payers may pay their due tax debts in instalments based on the signed administrative contract. An administrative contract is signed by the free will of the stakeholders in the credit-debtor relationship, between the Tax body and the tax payer, in the written form for the period of 24 months and may refer to the payment of the tax debt to the total amount or the partial amount. The proposal for signing the administrative contract is submitted to the tax office of the Tax Administration according to the place of residence or the usual place of residence of the physical person or the headquarters of the legal person.
      However, the administrative contract on payment of the tax debt in instalments cannot be signed with the tax payer whose account is blocked by other creditors, neither with the tax payer engaged in the proceedings of determination of the abuse of rights in the tax debt relation.

Application of Fiscalisation – Questions and Answers

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      The article provides the answers to the questions which usually refer to the explanation of the Act on the Amendments to the Act on Fiscalisation in Cash Transactions (Official Gazette no. 106/18). Certain provisions of the above stated Act became effective on 1 January 2019. The article also presents the answers to the questions regarding the procedure of fiscalisation and issuing invoices.

Losses and Shortages of Tariff Products and Products Subjected to Special Taxes

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      Losses and shortages arise in the process of production and in the procedures of manipulating finished tariff products and products which subject to special taxes. According to the Act on Tariffs, the tariff products do not subject to tariff payments if losses or shortages arise which are closely connected to the characteristics of the product and which occurred during the production, storing or transportation. The Croatian Chamber of Economy regulates the permitted i.e. excess losses in the corresponding decisions for tariff products and the products subjected to special taxes.

Correction of VAT Base and Deduction of Pre-tax due to Inability of Collection of Payment – Court Practice

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      The author of the text presents the viewpoint of the EU Court referring to the possibility of correction of the tax base in the case of inability to collect payments, including the obligation to deduct the pre-tax on the debtor’s side if the forced settlement has been decided upon.

Taxation of Compensations for Copyright Works

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      A compensation for copyright work represents the received payment for the delivered copyright work. A copyright work is the original intellectual creation made by the author. Copyright works are determined by the Act on Copyright and the corresponding rights. According to the tax regulations, the payments received by the person for the delivered copyright work is considered another income. However, the regulations on taxation of another income determine the specifics of taxation of compensations for copyright work depending on whether such a copyright work is considered as a work of art, the copyright work which is not considered as a work of art or the copyright work created by non-residents. The article presents the tax status of compensations for copyright works which are not considered as works of art and are delivered in the Republic of Croatia. 

Rulebook on Permanent Professional Training of Certified Auditors

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      This year, the Ministry of Finance has passed the Rulebook on Permanent Professional Training of Certified Auditors which determines the obligation of professional training of auditors as well as the records which are to be submitted to the Ministry of Finance within the determined deadlines. The article presents the way of filling in such records.

News from EU Institutions

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      Research activities have shown that the well-industrialized European regions, the large urban conglomerates and Germany have the greatest benefits of the common European market. The Austrian government announced that it plans to reduce the tax burden on entrepreneurs more than previously announced, from the current 25% to 21% by 2023.
      There is a new EU rule on electronic invoice issuance to support the receipt and processing of such invoices. The norm will initially be applied to public administration at the national level, while regional and local bodies will have an additional year to introduce it.

Promjene u sustavu sprječavanja pranja novca i financiranja terorizma

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      Krajem travnja ove godine stupio je na snagu promijenjen zakon kojim se u Republici Hrvatskoj provodi sustav sprječavanja pranja novca i financiranja terorizma. Riječ je o Zakonu o izmjenama i dopunama Zakona o sprječavanju pranja novca i financiranja terorizma.
      Koje novosti te promjene donose, sažeto piše autor ovog članka.
      Posebno se upozorava na odredbu koja se primjenjuje ne samo na obveznike provedbe mjera za sprječavanje pranja novca nego i na sve pravne osobe, a riječ je o popunjavanju Registra stvarnih vlasnika pravnih subjekata. Obveza za sve pravne osobe ovom osnovom počinje teći već od lipnja 2019. godine.

1. Uvod
2. Virtualne valute
3. Uvođenje javnog pristupa Registru stvarnih vlasnika pravnih subjekata
4. Nacionalna procjena rizika od pranja novca i financiranja terorizma
5. Procjena rizika stranke za pranje novca i financiranje terorizma
6. Uvođenje popisa istaknutih javnih dužnosti u RH čiji se nositelji smatraju „politički izloženim osobama“
7. Detaljnije propisivanje međunarodne suradnje Ureda za sprječavanje pranja novca
8. Detaljnije propisivanje suradnje između nadležnih nadzornih tijela
9. Zaključak
10. Registar stvarnih vlasnika

Received Payments of State Subsidies for Sole Trading Activities

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      Entrepreneurs often use state subsidies, supports and subventions as aids for self-employment upon founding various types of entrepreneurial activities. State subsidies represent a cash aid obtained by the state which is usually paid by the transfer of cash in favour of the entrepreneur. After the receipts of such an aid, entrepreneurs are obliged to fulfil certain conditions which are usually connected to the business activities of such entrepreneurs. The article explains the tax position of the received subsidies by income tax payers, which should be paid in a lump sum or is determined according to the business records.

Answers to Questions in Field of Consumer Protection

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      Retailers are obliged to apply good commercial practice to consumers, which implies compliance with the obligations stipulated by the Consumer Protection Act and its implementing regulations, and consumers have the right to use the rights under this Act.
      The Consumer Protection Act regulates the protection of consumers' basic rights when purchasing products and services as well as other forms of acquiring products and services on the market. It specifically sets out the obligations that the retailers are obliged to comply with, as well as the conditions that consumers have to fulfil in order to exercise their rights  If certain relationships between a retailer and a consumer are not regulated by the provisions of the above stated Act, the Act on Obligations is to be applied. The Consumer Protection Act is applied exclusively to regulate the relationship between the retailer and the consumer.

Current Issues in Catering Activities and Provision of Services in Tourism

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      The companies offering catering services, which are regulated by the Act on Catering Activities and the corresponding regulations, and the companies offering services in tourism, which are regulated by the Act on Service Provision in Tourism, are faced with a number of issues. Catering services may be provided by companies, co-operatives, sole traders and crafts businesses which fulfil the conditions determined for provision of such services (caterers), including various associations and institutions. Certain catering services may be provided by physical persons – citizens and owners or members of family farms. The Act on Catering Services is applied to more than 120 000 objects and entities of observation. This article provides the answers to certain questions referring to the application of the above stated Acts.

Right to Annual Holiday

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      The author of the text analyses the right to the annual holiday which every worker has in accordance with the provisions of the Art. 56. of the Constitution of the Republic of Croatia. The determination and use of the above stated worker’s right often causes disputes between the employer and the employee. The article presents the issues of duration of the annual holiday and the acquisition of the right to the full or the proportional part of the annual holiday, the use of the annual holiday in a number of periods and the transfer of the annual holiday into the following calendar year, including some concrete examples. The article also provides a sample of the schedule of annual holidays and the decision on the use of the annual holiday.

Contract on Employment and Calculation of Salaries for Seasonal Workers

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      In view of the status, taxation, contributions and obligatory insurance the authors of the article analyse the issues referring to the work of permanent seasonal workers based on the contract on employment of seasonal workers

Overview of Essential Amendments to Companies’ Act

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      The article presents the amendments to the Companies’ Act referring to limited liability company and includes a summary of the amendments to the first part of the above stated Act. Although these amendments comprise share holding companies, as well (36 provisions) and a public company to a certain extent, they are not the topic of the article.
      The changes referring to the entry into the Court Register, which were included in the latest Amendments to the above stated Act, are not the topic of this article.

Liability for Obligations of Companies

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      The author of the text presents the cases when company members are liable for their obligations, including the examples from the court practice. The companies which have the rights and obligations arising from the Act on Obligations are liable for the overtaken obligations with their entire assets. Besides the company, its members may also be liable for its obligations.

Establishment of Tourist Agency

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      The foundation of a tourist agency as a limited liability company represents the most common legal form of companies providing economic or any other activities, including the services provided in tourism. The author of the article explains the specific obligations to be fulfilled by the founder in order to provide the services in tourism as a tourist agency, including the specific procedure of founding a tourist agency by one founder. The article also presents other obligations of a tourist agency determined by the specific law.

Measuring Performance of Employees and Connection to Motivation and Awarding

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      Employees represent a value and value creators for companies. Such cognition leads to more and more time and money investing in the development of a company’s staff through the  system of management of workers’ performance. The management of employee estimates and the compensation management are essential activities within the human resources management function.
      Estimating or evaluating work efficiency can be implemented in a variety of ways. Accordingly, the estimates are specific for each enterprise. The article presents the example of a company's performance estimate, according to which the amount of the annual reward is determined. The highest share of the estimate represents the realized financial results – the total revenues, EBIT and individual income.
      The motivational system can be understood as a system of factors influencing the behaviour of people in the enterprise, but also outside of it. The motivational system involves the development and application of a variety of motivational strategies to achieve individual and business goals. It also represents the system of measures taken in the enterprise, such as stimulating rewards, the ability to advance in the profession, self-certification, respect, etc. Based on the results obtained, employees are rewarded according to the company's reward model.

Nabava osobnih automobila kod neprofitnih pravnih osoba

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      Neprofitne pravne osobe mogu za potrebe svog poslovanja nabaviti osobni automobil. Za određivanje načina evidentiranja nabave osobnih automobila i troškova koji poslije nastaju u vezi s njihovim korištenjem, bitno je odrediti svrhu zbog koje se nabavlja osobni automobil. O nabavi osobnih automobila kod neprofitnih pravih osoba koje nisu obveznici PDV-a i poreza na dobitak, može se pročitati u nastavku članka.

1. Uvod
2. Načini nabave osobnih automobila i njihova namjena
3. Specifičnosti nabave osobnih automobila
4. Stjecanje osobnih automobila darovanjem
5. Zaključak

Novi pravilnici Zakona o elektroničkom izdavanju računa u javnoj nabavi

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      Od kraja 2018. godine u sustav javne nabave uveden je i eRačun. S obzirom na to da je do 1. srpnja 2019. godine predviđeno prelazno razdoblje za njegovu „punu“ primjenu, a u međuvremenu su doneseni provedbeni propisi, u članku se detaljnije objašnjavaju okolnosti koje se uvode provedbenim propisima. Njime se upućuje i na okolnosti u kojima isporučitelj neće morati izdati eRačun.

1. Uvod
2. eRačun u Republici Hrvatskoj
3. Centralna platforma za izdavanje eRačuna

Uvjet ekonomske i financijske sposobnosti u sustavu javne nabave

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      U okviru kriterija za kvalitativan odabir gospodarskog subjekta koji može sudjelovati u postupcima javne nabave, bitnu ulogu imaju i kriteriji za odabir gospodarskog subjekta koji su grupirani u nekoliko skupina. Oni nisu obvezujući ako se za njihovu primjenu naručitelj ne odluči. Kada se naručitelj odluči za njihovu primjenu, tada to mora biti jasno istaknuto u dokumentaciji za nadmetanje te ne smiju izlaziti izvan ograničenja koja su istaknuta u samom Zakonu o javnoj nabavi.
      U ovom se čanku osvrće na jednu od tih skupina kriterija: ekonomsku i financijsku sposobnost.

1. Uvod
2. Kriteriji za kvalitativni odabir gospodarskog subjekta u postupku javne nabave
3. Ekonomska i financijska sposobnost prema Direktivi 2014/24/EU
4. Ekonomska i financijska sposobnost gospodarskog subjekta u postupku javne nabave
5. Europska jedinstvena dokumentacija o nabavi – (ESPD)
6. e-Certis – elektronički sustav Europske komisije
7. Praksa naručitelja izjava o ukupnom prometu gospodarskog subjekta u tri posljednje dostupne financijske godine
8. Praksa naručitelja – odgovarajući bankovni izvadci
9. Starost dokaza u ispunjavanju uvjeta ekonomske i financijske sposobnosti
10. Posjedovanje odgovarajuće razine osiguranja od rizika odgovornosti iz djelatnosti
11. Drugi zahtjevi naručitelja
12. Informacije o bonitetu poslovnih subjekata
13. Zaključak

Gospodarska kretanja u RH i EU-u

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1. Opći pregled
2. Cijene u RH i EU-u
3. Proizvođačke cijene industrije RH i EU-a
4. Industrijska proizvodnja RH i EU-a
5. Građevinarstvo RH i EU-a
6. Vanjskotrgovinska razmjena
7. Trgovina na malo u RH i EU-a
8. Turizam
9. Plaće
10. Likvidnost i insolventnost
11. Zaposlenost i nezaposlenost RH i EU-a

Novi propisi

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Stručne informacije

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