- instructions for drawing up the main financial reports, tax reports, calculations of membership fee sand contributions of companies and small enterprises which made a profit in 2007 – Although during the year the company manage ment draw up mid-term financial reports in order to review and realise the planned business policy as well as to make corrections aimed at achieving the best possible financial results, the complete and final report is made at the and of the year as at 31 December 2007. Such a report is a basis for determination of final tax and other liabilities and fulfilment of expectations of capital owners – share holders and company members, comprising distribution of dividends, i.e. profit in their favour. The authors of the text present the procedures used for drawing up financial and tax reports for the business year of 2007.
In the Republic of Croatia the Accounting Act has been complied with the norms of the European Union. The new Act is to be applied from 1 January 2008. The article provides information for accountants and managers on the contents of the Act and procedures of its application.
Autor: Dr. sc. Vlado BRKANIĆ, ovl. rač. i ovl. rev.
The salary is usually determined in the contract of employment between the employee and the employer. The amount of the salary should be determined according to the complexity of work for which the salary is paid. In the new Act on Contributions for Obligatory Insurance only the bases, according to which the contributions in 2008 are to be calculated, have been changed. This means that the lowest and the highest bases for payment of pension contributions on a monthly and yearly levels have been changed including the bases for other insured persons in obligatory insurance.The article presents the calculation of salaries and contributions according to the regulations which will be applied in 2008.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
An employee has the right on salary increase due to the years of service according to the Labour Act, collective agreements, an agreement made between the workers’ council and the employer, a contract of employment, company labour relations by-laws andother specific enactments of the employer. The article deals with calculations and payment of salary bonuses.
Employers are obliged to submit the reports on paid salaries, paid contributions from salaries, income tax and sur-tax in the IP Form to the Tax Administration for their area until 31 January 2008. The payers of receipts, who calculated contributions, income tax and surtax for payments in 2007 comprising the receipts according to temporary service contracts, author’s contracts, dividends and alike, are obliged to submit to the Tax Administration the Report on paid receipt, paid contribution, paid tax after deduction and sur-tax in the ID Form. They are also obliged to send to the persons, to whom they paid the above stated receipts, the Confirmation on the paid receipts, income and taxes after deduction after expiration of the year of 2007.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
A regional branch office of the Croatian Institute for Health Insurance will from 1 January 2008 be responsible for determination and recognition of industrial injuries or professional illnesses. In accordance with the Act on Health Insurance of Health Protection at Work and the Rulebook an employee has the right on recognition of industrial injuries and professional illnesses.
This article presents the review of new regulationsin EU with a short comment for each one. This includes: guidelines in payment services, easier filing of complaint in the public procurement procedure, guidelines on air quality, action plan for initiating worker mobility, etc.
Business planning is one of the regular tasks of the company on all layers. There are strategic, tactical and operating planning. Their main characteristicis the fact that they have to be connected in synergy. Strategic and tactical planning is a task of the high and higher management (in co-operation with controlling). One of their main roles is creation of the vision and the strategy, according to which this vision becomes reality. The determined strategy is to be transferred to the lower management layers and further to the entire company.
New Decision on Collection of Data for Drawing-up Balance of Payments, Statement of Foreign Debts and Statement of International Investments brings some amendments within the framework of the existing research on direct and other capital investments, debtor investments and especially in the research of statistical data of loan businesses with foreign countries. This article presents the way and techniques of reporting the direct and especially the portfolio capital investments as well as debtor investments abroad.
This article explains the legal basis which should be considered in making clearing payments in the country and abroad. Due to the complexity of this topic presented are some examples of clearing payments, that the residents are often faced with. They will be presented depending on whether the base of the clearing payments are current or capital business operations. Finally, the article deals with buying back of liabilities. The text provides examples of what should be considered from the point of view of foreign currency business referring to clearing payments in the current operations.
Autori: Mr. sc. Iva KOPECKI Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
In the case when the compensation for the provided goods or services has been reduced, the decrease of tax liabilities of a tax payer should be allowed no matter if the buyer is a tax payer or a final consumer. The article explains which tax situations should in this case be considered and how a tax base should be adjusted according to the VAT regulations.
The obligation to draw up annual reports on excise duties for the year of 2007 refers only to thetax payers of goods, who subject to pay excise duties.This refers to the producers and importers of petroleum products, tobacco products, beer, non-alcoholic beverages, alcohol and alcoholic drinks, automobiles, other motor vehicles, motor vessels and aircrafts, coffee and luxurious products. The reports are not obligatory and are not to be submitted for automobiles, other motor vehicles, motor vesselsand aircrafts. The annual reports for the other above stated goods should be delivered to the customs office including the data on stocks of goods as at 31 December 2007.
This article deals with various models of dividend taxation in case the new Government decides to introduce such a tax. Also, the models which are mostly used in the world are compared. It has been observed that the classic model of dividend taxation is less used whereas a cedular taxation has been introduced at aspecific rate i.e. tax relief to the total amount or partially. The article lists the rates of dividend tax i.e. the rate of tax relief in specific countries.
Autori: Prof. dr. sc. Helena BLAŽIĆ Dženeta BAŠAGIĆ, mag. oec.
From 1 January 2008 the retailers should apply the NEW Rulebook on the Form and Procedures of Keeping Inventory Books in Retail Outlets, which simplifies recording on supply and sales of goods in a retail outlet. The article deals with the amendmentsof the existing Rulebook.
Autor: Mr. sc. Đurđica JURIĆ, dipl. oec. i ovl. rač.
The new Rulebook on the 35e Form and Procedures of Keeping Inventory Books in Retail Outlets has again raised a number of questions referring to the keeping of inventory books and accompanying documents in aretail outlet. In this article the author replies to the most frequent questions of retailers taking into consideration the latest attitudes of the State Inspectorate.
The new Act on Provision of Services in Tourism introduces a novelty that school and other educational institutions can organise a trip and are obliged to report the organisation of the trip or the excursion (associations) to the State Inspectorate.
Recruitment of foreign residents has become rather frequent. Due to the fact that many foreign residents want to conduct business operations in the Republic of Croatia, many of them establish companies, small enterprises and alike. The new Act on Foreign Residents comes into effect on 1 January 2008. The article gives guidelines a foreign resident is to do upon establishing a company or a small enterprise, if an employer can hire a foreign resident on a temporary basis and what is to be done in such a case.
Each limited liability company (d.o.o.) is obliged to have and keep the book of business shares, in which the »company owners«, as the members of a limited liability company are popularly called, are recorded. If there have been any changes of memberships in the company during the year, this change is to be entered into the book of business shares and from now till 31 January 2008 a written report on the changes from the previous year is to be submitted to the Commercial Court.
When the value of financial assets is decreased due to the loss coverage and not due to the change of its market value, the volume of the financial assets is to be reduced and not its value. In write-off of small inventory the write-off rates have not been regulated. Therefore, the write-off is determined in the accounting policies. The article presents some examples of loss coverage accounting and write-off of small inventory.
Autor: Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
