In order to preserve jobs due to the declared epidemic caused by Coronavirus (COVID - 19) and to support the economy for the months of July and August 2020, the Government of the Republic of Croatia adopted a special measure for sectors particularly affected by the epidemic. In the following article, the authors present the above stated measure and the calculation of public benefits. The article also deals with the obligation for public benefits of independent taxpayers who have received the subsidies.
In order to preserve jobs due to the declared epidemic caused by Coronavirus (COVID - 19) and to support the economy for the month of July 2020, the Government of the Republic of Croatia adopted a special measure for micro-entrepreneurs (employers employing 9 or fewer workers). The authors of the article describe the above measure and the calculation of public benefits. The article also presents the obligation for public benefits of independent taxpayers who have received the subsidy.
In order to preserve jobs due to the declared epidemic caused by Coronavirus (COVID - 19) and to support the economy, the Government of the Republic of Croatia has so far adopted four aid packages. The last two packages relate to the measure of reducing working hours and the measure of preserving jobs in July for micro-entrepreneurs. The authors of the article describe the calculation of salary and the employer's obligation to use the measure of part-time work.
One of the most important tasks of managerial accounting is to adjust the data and information from the financial statements to the business model and thinking of entrepreneurs for the purpose of making business decisions. The reason for this is that financial accounting often cannot fully meet such requirements. This applies in particular to the financial accounting of store and production inventories and to the indicators in the financial statements. Therefore, the task of accountants within managerial accounting is to prepare specific information on inventories for business decisions.
The author of the article explains which financial and tax reports should be prepared by companies that lose their legal personality due to the status change, companies over which liquidation proceedings have been opened and / or closed, companies over which bankruptcy proceedings have been opened and / or closed and companies that cease operations procedure without liquidation. In addition, the article presents tables of all deadlines related to the submission of the financial and tax reports and the report code in the AFS related to the submission to FINA.
Autor: Dr. sc. Tamara CIRKVENI FILIPOVIĆ , prof. vis. šk. i ovl. rač.
Merging companies is a complex legal, financial and accounting process. Such a business combination requires decisions of the competent bodies of the companies concerned, the signing of appropriate contracts and other documents and registration in the court register. The merger process can also be an accounting complex and tax-relevant undertaking.
In this article, the author deals with all the aspects of business mergers of those companies that are under joint control before the merger.
Companies whose business year is equal to the calendar year are obliged to submit their annual financial statements for 2019 to FINA by the end of August 2020 for the purposes of public disclosure. Together with the AFS, they also submit the Decision on Acceptance of the AFS and the Decision on Profit Distribution or Loss Coverage. Entrepreneurs who have made a loss in their business analyse the causes of its occurrence and compare the loss of the business year with the tax loss or income tax liability that arose from the income tax return for 2019. In the case of a tax loss, it is possible to recognize deferred tax assets, but only when it is certain that the entrepreneur will achieve a positive operating result or taxable profit in the following tax periods. If this is not certain, deferred tax assets based on tax loss are not recognized.
Autor: Dr. sc. Đurđica JURIĆ , prof. vis. šk. i ovl. rač.
The activity of training candidates for drivers is performed by driving schools according to special regulations. Driving schools can be established as companies or sole traders. To perform this activity, the driving school needs to meet the determined minimum standards for performing the activity, submit the corresponding documentation and needs to "pass" the insight control conducted by the Ministry of the Internal Affairs and the Croatian Automobile Club (HAK) in order to be able to start working. The price of the training program is determined by each driving school independently, taking into consideration its costs and their coverage. The premises should display in a visible place the price list for the service of training candidates for drivers per individual subjects and the notification on the amount of the fee for taking the driving test in a particular subject, which is paid to HAK. When purchasing and using vehicles used in the performance of driving school activities, the deduction of pre-tax is allowed in the total amount and accordingly the cost, as well.
The possibility of deducting pre-tax when purchasing and using delivery vans is affected by their position according to the provisions of the Special Tax on Motor Vehicles Act. When purchasing and using delivery vans that are not subject to special motor vehicle tax (PPMV), the deduction of pre-tax is allowed in the full amount. Only 50% of pre-tax is allowed on the part of the van that is classified in the N1 vehicle category and is subject to taxation by PPMV. This means that the entrepreneur should check the "status" of vehicles before purchasing them, i.e. check the status of the vehicle he/she owns and determine whether they are subject to taxation by PPMV. The information on the tax status of vehicles issued by the Customs Administration for certain brands of vehicles is of great help. If the vehicle status is not issued for the vehicle owned by the entrepreneur, and the entrepreneur has doubts about the status of the vehicle, it is advisable to require the opinion of the Customs Administration.
The Companies Act stipulates that when establishing a limited liability company and a joint stock company, a part of the registered share capital in cash may be paid even after the establishment of the company.
Thus, for a limited liability company, it is determined that one quarter of the share capital in cash must be paid before the establishment of the company, while the remaining three quarters must be paid no later than one year from the date of establishment of the company.
The article presents the accounting procedures with a part of the capital that has been registered but has not yet been paid in, and practical examples show different ways of settling the founder's debt for unpaid capital.
Autor: Mr. sc. Snježana BRKANIĆ PONGRAČIĆ , dipl. oec. i ovl. rač.
For budget users, internal realization occurs when, for example, the acquired property is used for hosting purposes. It would not be appropriate to use (internal) revenue accounts to report internal realization. The land in accordance with the accounting rules has the characteristics of natural wealth. The accounting procedure when selling land depends on whether it is owned by a budget person or not. If the land is owned by a budget person, only then can it be reported as land in the general ledger.
Autor: Mr. sc. Nada DREMEL , dipl. oec., ovl. rač., ovl. rev. i porezni savjetnik
A non-profit organization can also provide services to its members. In doing so, from the point of view of the association, there is no difference between providing a service to its member or any other person. Only long-term tangible assets with an individual value of up to HRK 3,500.00 can be classified in small inventory. Since the manner of writing off small inventory in use is not determined, the non-profit organization regulates this issue with its accounting policies.
Autor: Mr. sc. Nada DREMEL , dipl. oec., ovl. rač., ovl. rev. i porezni savjetnik
In this article, the author explains in which cases Croatian taxpayers need to register for VAT purposes in Germany when they make certain deliveries of goods and / or services in that country. In addition, the author explains the actions to be taken, i.e. whether there is an obligation to appoint a tax representative and what are the further obligations of Croatian taxpayers in these cases (filing VAT returns, paying VAT, etc.).
Autori: Dr. sc. Tamara CIRKVENI FILIPOVIĆ , prof. vis. šk. i ovl. rač. Maja LENAC , bacc. oec. i ovl. rač.
The criteria - principles of taxation of foreign services are set out in the Art. 17. of the VAT Act. This principle is mandatory when determining the tax position of foreign services when one of the participants in the transaction, or the recipient or service provider - invoice, foreign entrepreneur - is a taxpayer, regardless of whether it is from the EU, third country or third area. There is a difference between the basic principle of taxation of taxpayers, the so-called B2B principle and the B2C principle relating to services between taxpayers and natural persons who are not taxpayers. When determining the place of performance of services, there are exceptions to the basic principle of taxation. In this group of services there is also a differentiation between those performed by other taxpayers or natural persons. Exceptions to the basic principle are determined by the Art. 18 - 26 of the VAT Act and the Art. 34 - 35 of the Ordinance on VAT.
Autor: Dr. sc. Ljerka MARKOTA , prof. vis. šk. i ovl. rač.
During the stabilization period after the cessation of special circumstances, entrepreneurs who are unable to pay the deferred tax liability at its deferred maturity are allowed interest-free instalment payment of deferred tax liabilities for a maximum period of 24 months. A written and reasoned application for instalment payment only for deferred due tax liabilities may be submitted to the Tax Administration within five days from the due date of the liability that the applicant is unable to pay.
In order for the application for instalment payment of deferred tax liabilities to be resolved positively, the taxpayer's accounting card must first be written off on the basis of the Exemption from the obligation to contribute to co-financing net salary and write-off on the basis of the Tax Exemption Measure.
Autor: Mr. sc. Mirjana MAHOVIĆ KOMLJENOVIĆ, dipl. oec.
Real estate transactions are in some cases taxed by property income and property rights. The misappropriation of real estate is taxed with property income if the taxpayer disposes of the real estate before the expiration of two years from the date of its acquisition or when the taxpayer has misappropriated more than three identical pieces of real estate within a period of five years. Income from property generated by the misappropriation of real estate is taxed only if it is not taxed as income from self-employment.
Other income is considered to be a receipt taxable with income tax received by natural persons, which is neither a salary, nor income from permanent self-employment nor income from capital, property and property rights. These are receipts that, in addition to income tax, are also subject to the payment of contributions. However, when such receipts are made by tax residents of the Republic of Croatia abroad paid by legal and natural persons established in another country, it should be taken into account whether the receipts were made in a country with which the Republic of Croatia applies an international double taxation avoidance agreement. In such a case the provisions of the contract take precedence over the Croatian tax regulations.
In the absence of proof of tax residency of the Republic of Croatia, the source state may have the right to calculate the advance income tax according to the regulations of the source state. Due to the fact that the realized receipts are also subject to the payment of contributions, in the absence of proof of belonging to the social system of the Republic of Croatia, the source state may use the right to pay contributions according to the regulations of that state. If the advance payment of income tax and contribution is calculated by the payer abroad, the taxpayer-resident of the Republic of Croatia is obliged to inform the Tax Administration about the deferral of income tax payment using the INO-STATEMENT form and after the end of the year to report the income received abroad by 31 January on the INO-DOH form. If the payer from abroad with proof of residence and affiliation to the social system of the Republic of Croatia does not calculate income tax and contributions abroad, the taxpayer should do so him/herself within 30 days of receiving the money on the account and inform the Tax Administration on the JOPPD form.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
In the RRIF Journal no. 12/19 an article titled Payment of Tourist Tax for 2020 was published. At that time, the Ordinance on the amount of tourist tax for persons using the overnight service on a nautical tourism vessel, ships for multi-day cruises, and for persons staying on a vessel (sailors) had not yet been adopted, and the deadline was six months from the enactment of the Act on Tourist Tax. As the above stated Ordinance was adopted and entered into force, the following article provides an overview of the obligations to pay the tourist tax for such taxpayers.
The author states in the article the viewpoint of the Court of Justice of the European Union regarding the tax position of transactions performed by the parent company to its subsidiary for a fee that covers only the costs of performing these transactions. Furthermore, in the second case, the Court analyses the fact that a company established in a third country has a subsidiary in the Member State in which the service provider is established and what the consequences are in terms of determining the place of supply, i.e. whether the subsidiary is regarded as a permanent member of the parent company and to whom the particular service was provided.
In this article, the authors comment on measures to help German companies and the role of tax advisors and their responsibilities for the data provided. In German conditions, it can be stated that the accountants have taken on this burden of work and responsibilities.
The German Parliament adopted a package of new tax measures worth 130 billion euros, including a reduction of the general VAT rate from 19 to 16%.
The European Parliament introduced road transport reform in early July, improving drivers' working conditions and preventing distortions of competition in road transport.
The EC has approved an Italian tax scheme to support companies and the self-employed affected by the corona crisis, arguing that the scheme complies with state aid rules.
The IFRS Interpretations Committee (hereinafter IFRIC) has received a request for interpretation of a reversible factoring contract. The Board considers that in a reversible factoring contract the financial institution agrees to pay the amounts of liabilities that a company owes to suppliers, and the company agrees to pay the financial institution after the suppliers have been paid. The Committee considers that the current standards regulate this problem sufficiently and that no special interpretation is needed.
Tax regulations determine interests in view of profit tax and income tax. Default interests are regulated by the Act on Obligations and the Act on Financial Operations and Pre-Bankruptcy Settlement. Besides default interests, the Act on Obligations regulates the highest contractual interests in commercial and other relations. The article provides the latest data on the interests charged for late payments and the interests between affiliates.
Autor: Dr. sc. Šime GUZIĆ , viši pred. i ovl. rač.
Working hours in the catering industry and non-compliance with working hours always represent current issues. The decision on measures to restrict social gatherings, work in stores, services and sports and cultural events as of 19 March 2020, issued by the Civil Protection Headquarters of the Republic of Croatia, suspended the operation of catering facilities of all categories, with the exception of preparation and delivery of food and accommodation services. All these drastic administrative measures, although they contributed to the observance of the determined working hours, made it impossible for caterers to do business. As a result, the state was deprived of taxes, employees were left without pay, pension and health insurance without contributions, and guests were denied service. In the hope that these times are behind us, the author of this article provides provisions on working hours determined by the Act on Catering and the Decision on Working Hours of Facilities where catering services of the City of Zagreb are provided.
Due to the circumstances caused by COVID-19 disease and the shrinking scope of business, an increasing number of employers are introducing part-time work for their workers instead of full-time.
In this article, the author provides answers to the most common questions that arise in practice related to part-time work: how long can a part-time worker work, can a part-time worker work for several employers, what is additional work, is a part-time worker entitled to breaks, daily and weekly breaks, whether a part-time worker can work overtime or whether his/her working hours can be unequally distributed and whether workers who have concluded an employment contract have the same right to annual leave as workers who have entered into a full-time employment contract.
In this article, the author discusses important issues related to the legal position of procurators. The issues related to the procurator are permanently discussed and present the practice. Accordingly, the article presents some important obligations and rights of procurators, in a simple and concise way.
The Rulebook on Procedure and Reporting of Irregularities in the Management of Funds of Institutions in The Public Sector was published and entered into force on 16 July 2020. The article presents the scope of its application, the persons liable for its application, the classification of irregularities which it regulates and the persons responsible for irregularities, actions and measures taken in the event of irregularities, reporting of irregularities and connection with statements of fiscal responsibility.
Autori: Davor KOZINA, dipl. oec. Ana ZORIĆ , dipl. iur.
The Rulebook on Documents on Procurement and Supply in Public Procurement Procedures has been amended in view of the validity of documents i.e. the regular updating of the existence or non-existence of certain circumstances important for the selection of the person with whom the public procurement contract will be signed. The above stated Amendments became effective on 9 July 2020.
1. Pregled kretanja
2. Industrijska proizvodnja RH i EU-a
3. Potrošačke cijene
4. Turizam
5. Trgovina na malo
6. Robna razmjena s inozemstvom
7. Prijevoz putnika i robe prema vrstama prijevoznih sredstava
8. Prosječne mjesečne neto i bruto-plaće zaposlenih
9. Zaposlenost i nezaposlenost