According to the new regulations in the Republic of Croatia enterprises, even small ones, are obliged to publish their annual financial reports. An enterprise is considered to have fulfilled the obligation of publishing, if it has delivered to the Financial Agency complete and accurate financial reports. The deadline for delivery of complete financial reports for 2008 is on 30 June 2009 for most enterprises, except for those which make consolidation and have to deliver their financial reports until 30 September 2009.The article deals with the procedures of drawing up and completing financial reports for the year of 2008 and their delivery to the Financial Agency for public procurement.
Autor: Dr. sc. Vlado BRKANIĆ, ovl. rač. i ovl. rev.
The obsolete liabilities to suppliers and creditors can be written-off on the account of income, so that the financial reports would be realistic and objective. However, it is possible for the liabilities to be written-off before the date of their obsoleteness, or they need not be written-off on the account of income but can be transferred into reserves or share capital. The article deals with all the points that should be considered including the accounting and tax position of the written-off liabilities.
Autor: Mr. sc. Katarina HORVAT JURJEC, dipl. oec. i ovl. rač.
The article deals with the accounting of transactions with credit cards from the viewpoint of companies which can be sellers or buyers. It presents the use of personal and business credit cards issued in the country and abroad. Using some practical examples the author explains the sequence of business events and their recording into tax and book-keeping records.
Autor: Mr. sc. Đurđica JURIĆ, dipl. oec. i ovl. rač.
Upon start-up of bankruptcy procedure of a debtor's property, creditors have the possibility to settle their claims, but only if such claims have been registered in the bankruptcy estate without being contested by the bankruptcy estate manager. The proper registration of claims and knowledge on the complete procedure are very important. The article presents some essential information a creditor should be familiar with in order to exercise his/her rights and to ensure the settlement of his/her claims.
The author of the article presents the accounting of long term liabilities for received loans, credits and deposits, long term liabilities to suppliers and other long term liabilities in accordance with the accounting standards and tax regulations.
One of the common transactions with shares, which has an important role in securities business, is the purchase of company's own shares. The reasons for acquisition of company's own shares can be to decrease the danger of competitors' takeover, to award employees or company management, to reduce the number of ordinary shares and alike.This article presents the accounting procedures with company's own shares and their impact on the company's equity, including the regulations of the above stated issues.
Autori: Mr. sc. Stjepan Laća Luka Mladineo, dipl. oec.
Due to the fact that since the beginning of 2009 the Act on Prevention of Money Laundry and Financing of Terrorism has been applied, the persons obliged to apply it have got some new tasks. Although all the working persons have certain obligations according to the above stated Act, the persons who are specifically stated have to act in a different way than the persons who are not. Such persons are, among others, the persons engaged in professional activities. An important group represents physical and legal persons engaged in accounting services and tax consulting.
The article deals with the accounting procedures in budgetary accounting referring to the transactions of collection of payment in cash and transfer of fixed assets.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
The author of the article presents recording and other accounting procedures in non-profit organizations regarding the transactions of co-financing the purchase of fixed assets.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
Due to the fact that the non-profit organizations, which record their operations in the system of non-profit accounting, in double-entry book-keeping, make the result (surplus/deficit), they have to record it in book-keeping. The use of the results is regulated by law, regulations and company by-laws.The article deals with the accounting procedures in non-profit organisations upon the annual determination of the achieved results.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
The new Act on Contributions, which came into effect on 1 January 2009, introduced some novelties regarding the payment of contributions for social insurance compared to the old Act on Contributions for Obligatory Insurances. One of the novelties refers to the incentives for the first employment and the employment of volunteers who have completed their professional education and must gain working experience in a certain period before their first employment. The incentives refer to the exemptions of paying the contributions on volunteers' salaries, the contributions for health insurance and the contributions for health protection for a one-year-period starting on the first day of employment or volunteer work.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
The article presents the measures determined by the European Commission aimed at reducing the recession in the EU member countries. The measures include: the estimate of drop of the European economy is 4%; the amount of loans to the member countries from the Eastern Europe is doubled; France reduces VAT on catering services; recommendation of the Commission on Awarding Managers; how to preserve the employment and other measures.
The application of the regulation on state subsidies in the Republic of Croatia is a result of the Art. 70 of the Stabilisation and Association Agreement between the Republic of Croatia and the EU member countries and the Protocol no. 6., which is its constituent part.The state subsidies for sanation and restructuring can considerably endanger the competition on the particular market because the enterprise which should leave the market, remains on the market thanks to state subsidies. Accordingly, some of its competitors with positive business results but have not received state subsidies, are forced to reduce or cancel their business operations. The author of the article writes about gradual publishing of all the basic rules on state subsidies to EU member countries when they become obligatory for the Republic of Croatia.
The Croatian financial system, which is dominated by banks, has so far been stable and liquid despite the macro-economic weaknesses, which are primarily reflected in an extremely high foreign indebtedness, deficit of balance of payments and dependence on imports. The insurance sector in the Republic of Croatia, which represents an important part of the financial system, is exposed to the financial crisis on two levels. The financial crisis has destroyed the economic growth. Accordingly the fall of demand for insurance is to be expected in recession.The author of the article analyses and evaluates the impact of crisis and its impact on the Croatian insurance sector.
Although the value added tax system has been applied in the Republic of Croatia for 11 years, the procedures with advance payments always represent interesting and sometimes complex tax and accounting topics. The obligations of the receiver and provider of advance payment and deposits are only some of the issues referring to the paid deliveries of goods and services in advance.
Autor: Mr. sc. Ljerka MARKOTA, dipl. oec. i ovl. rač.
The rulebooks referring to the exercising the rights to subsidies of low values for the companies which perform their activities in mountain areas, the areas of special state concern and the Town of Vukovar. This article presents the most important information on the procedures of filing for subsidies and the contents of the data which are to be delivered. The deadline is 15 May of the current year.
U ovim RRIF-ovim poreznim savjetima daje se izbor pitanja i odgovora koja su se pojavila u proteklom razdoblju. Nadamo se da ćemo otkloniti i vaše dvojbe glede istih pitanja.
The new regulation based on the Trade Act determines the conditions for establishment and work of foreign representative offices in the Republic of Croatia. The operations which may be performed by a foreign representative office on the territory of the Republic of Croatia refer to market research, promotional activities, providing information and the operations referring to their own presentation. Accordingly, a foreign representative office established in the Republic of Croatia cannot perform any activity generating income (to sell, to invoice, to collect payment for goods and services, to purchase, to import or pay the goods or services aimed at further sales).
According to the Act on Crafts Business two or more physical persons may join together and perform a crafts business. Their mutual relationship in the joint crafts business is determined in the partnership agreement according to the provisions of the Act on Obligatory Relations. The article provides an example of the partnership agreement, explains the legal provisions and presents the business and tax records before start-up of the partnership, during the partnership and after stepping down of one of the co-entrepreneurs from the joint crafts business.
An accommodation fee represents an income of tourist associations. The assets are used for improved conditions of tourist accommodation in a tourist resort and for the improvement and promotion of tourism in the area where they have been collected. The article deals with the persons obliged to pay an accommodation fee and their obligations as well as the persons who have the right to pay an increased amount of accommodation fee.
Due to the current topic of annual holidays and frequent questions, this article explains the most important regulations regarding this issue and provides some concrete examples of the relevant by-laws.The new Labour Act, which has recently been a current topic, is about to be passed, so the article just presents the possible solutions of annual holidays which are included in the Draft of the above stated Labour Act.
Autori: Damir PAVIČIĆ, dipl. iur. Ante VIDOVIĆ, dipl. iur.
The local elections and the elections for municipality heads, mayors and the mayor of the City of Zagreb were organized in May, 2009. Some persons who participate in the elections have the right to receipts according to specific regulations. If such receipts are paid to physical persons they are classified as the receipts from which the income tax, surtax and contributions are to be paid. Depending on the status of the physical person the calculation and the period of settlement of the above stated liabilities are different.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
The base for calculation of salaries of state budget beneficiaries, whose salary funds are ensured in the State budget for the current budget year, is determined each year. The salary base for the year of 2009 was determined to the amount of 5,415.37 HRK, which was changed. The salary base in state and public services has been reduced to the amount for the year of 2008 totalling 5,108,84 HRK gross. The base for calculation of salaries of civil servants, judges and other employees in administration of justice has been reduced by 10% compared to the base which was applied from 1 January 2009 and amounts to 4,873.83 HRK gross.
If a civil servant or an employee in public services are sent on a business trip in order to perform the activities within the scope of their work, they have the right to compensation of certain expenses made on such a business trip. The employer is obliged to compensate the expenses of a business trip in the way and under the conditions determined by certain segments of the labour law. The conditions and the ways in which the above stated expenses of a business trip for civil servants and employees in public services should be compensated are defined in the collective agreements in particular activities of public service.
Autor: Mirela GLAVOTA, dipl. oec., ovl. rač. i ovl. rev.
According to the latest changes in legislation referring to executive bodies on the local level the town government does not exist as an executive body any more. The holders of executive power are municipality heads, mayors, county heads and their deputies. The changes also include a completely different model of electing executive bodies by citizens, whereby the executive bodies have a different way of responsibilities. Such new changes represent the most important changes referring to executive bodies since the introduction of local governments in 1992.
