The deprecated liabilities to suppliers and creditors should be written-off on the account of income, in order for the financial reports to be realistic and objective. In some cases the liabilities may be written-off before deprecating. Certain liabilities need not be necessarily written-off on the account of income, but can be transferred into reserves or the share capital. The article presents the issues which should be taken into account including the taxation and the accounting positions of written-off liabilities.
Autor: Mr. sc. Katarina HORVAT JURJEC, dipl. oec. i ovl. rač.
The article presents the issues regarding the accounting for the paid VAT, the profit tax and the income tax from the previous periods, in the case when the Tax Administration has determined the errors in the calculation and payment of the taxes. From the author’s point of view, this issue should be perceived as the correction of the errors which occurred in the previous periods. This means that the CFRS 3 – Accounting Policies, Changes in Estimates and Errors , i.e. IAS 8, Accounting Policies, Changes in Estimates and Errors should be applied in the part which determines the issues such as correction of errors and the disclosure of such errors. The author points to the fact that such a procedure is acceptable in terms of taxation and that the expenses recorded in such a way (except the expenses for profit tax) may be deducted from the tax base for profit.
In practice, a number of companies frequently make business transactions with affiliates. Such transactions mostly refer to the acquisition of stakes and shares, receiving and granting loans, delivery of goods and services, etc. The author of the article explains the term of affiliates according to the provisions of the Companies’ Act, the accounting standards and the taxation regulations. The article also includes the examples of accounting for the transactions between affiliates, which frequently appear in the business practice according to the accounting standards and presents the taxation of receiving and granting loans between affiliates according to the provisions of the Profit Tax Act.
The acquisition of business stakes in other companies is recorded as financial assets in the investor’s accounting. Depending on the purpose of keeping such an investment it can be classified as financial assets, whose change of the fair value is recognised in the profit and loss account (financial assets held for trading) or the financial assets held for sale. The largest part of the acquired business stakes is classified as the financial assets held for sale, since the most frequent goal is to take over an enterprise whose stakes are owned.
The author presents the changes of the reporting regulations on investment services according to the regulations on capital markets, including credit institutions, companies managing investment funds and investment companies. The basic changes of the reporting system refer to the format of delivery of the reports and the application of the electronic signature.
This budgetary workshop records and explains the recordings of refund of overpaid compensation of transportation to and from work and exchange of assets and services. Upon the refund of overpaid i.e. unjustifiably paid compensation for transportation to and from work it is necessary, besides the cash refund, to reduce the liabilities for payment of such a compensation, i.e. the corresponding expenditure, This is not directly connected to the real refund of cash. According to the provisions of the special regulations the exchange of goods and rights is possible. Such a type of acquisition of asssets, i.e. rights requires the corresponding way of book-keeping. Accordingly, it is recommended to record just income and expenditure without recording the receivables and liabilities.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
If the receivables from buyers are disputable after the expiration of payment deadline, i.e. if the collection of payment is uncertain, an association obliged to apply the non-profit accounting, should make the value adjustment of such receivables. The value of the receivables should be corrected and the expenditure recognized.
Autor: Mirela GLAVOTA, dipl. oec., ovl. rač. i ovl. rev.
The author of the article analyzes the specific cases of salary payment. The salary paid according to the court decision is calculated in the specific way regarding the income tax payment. It depends actually on whether the employee used personal exemption in the period for which the salary is to be paid. In the case when the salary is paid according to the distraint order there are several possibilities of the calculation of taxes and contributions, due to the fact that the salary is paid together with the contributions for pension insurance. In the case of the settlement between the employee and the employer the salary is calculated in the specific way.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
Upon the accession of the Republic of Croatia in the European Union on 1 July 2013 the new Value Added Tax Act will become effective. This Act will determine the trade of goods and services in the Republic of Croatia, on the territory of the European Union , the “third countries” and the “third territories”. The legislation of the Republic of Croatia is to be complied with the acquis communautaire on the day of its accession in the European Union. The article presents the specific tax position of means of transportation.
Članove uprave potrebno je razlikovati, sa socijalnog i poreznog motrišta, prema nekoliko njihovih mogućih statusa: članovi uprave u radnom odnosu, članovi uprave u radnom odnosu ali u nekom drugom društvu (u kojemu možebitno nisu članovi uprave), članovi uprave izvan sustava socijalnog osiguranja, članovi uprave stranci, članovi uprave umirovljenici. Svaki od navedenih statusa članova uprave sa sobom ponajprije donosi različito uređenje obveznog osiguranja, a o tome pišemo u nastavku. 1. Uvod 2. Koji članovi uprave i izvršni direktori trebaju biti obvezno osigurani 3. Primitci članova uprave i njihov porezni položaj 4. Stranci u svojstvu članova uprave 5. Zaključak
Njemačko ministarstvo financija u svome mjesečniku Monatsbericht br. 6/12., objavilo je poseban dio pod nazivom „Die wichtigsten Steuern im internationalen Vergleich 2011“. U tom materijalu prikazani su najvažniji porezni podatci (npr. udio poreza u BDP-u, vrste poreza, visina poreznih stopa) za države članice EU i OECD-a. Za potrebe našeg čitateljstva u nastavku se daje prilagođeni prijevod tog materijala. Aktualan je jer sadržava najnovije podatke (stanje 2011.), a posebice zna li se da su suvremeni porezni sustavi zadnju godinu, uslijed svjetske financijske krize, pretrpjeli znatne izmjene i korekcije poreznih stopa. U RRiF-u br. 11/12. str. 97. objavljen je prvi dio a u 12/12. str. 148. objavljen je drugi dio ovog članka dok je u RRiF-u br. 4/13. str. 89. objavljen treći dio, a ovim brojem završavamo prikaz 4. Opterećenje zaposlenika porezima (na plaću) i ostalim javnim davanjima u 2010. 5. Imovinski porezi 6. Oporezivanje financijskog sektora 7. Stope poreza na promet
The topic of this article is sampling within the system of proof tests in which the legal framework will be determined and the methods of sampling will be analyzed in order to precisely define the samples necessary to the auditor to express his/her opinion. If the samples have incorrectly been defined, the auditor cannot collect enough proves to express his/her opinion. In the case of too many samples, too much time will be spent on the analysis.
The article presents the changes of the IFRIC 17 published by the IASB, which explains the accounting for business events regarding the payment of dividends in the form of non-cash assets of a company. The explanation refers only to the distribution in which the owners of the same kind of the owners’ instruments are treated equally.
1. Od 16. ožujka završila kultura neplaćanja 2. Natječaj za bespovratan novac EU za poslovnu infrastrukturu 3. Veći porezi ugrožavaju stabilnost socijalnog sustava 4. Za regionalnu suradnju na zapadnom Balkanu 273 milijuna 5. Njemačka objašnjava porezne olakšice na dostavu hrane 6. Španjolske i talijanske male i srednje tvrtke nova prijetnja eurozoni
Europska je komisija pripremila prijedlog nove regulative o strukturnim fondovima (Europski fond za regionalni razvoj i Europski socijalni fond), kohezijskom fondu te Europskom poljoprivrednom fondu za ruralni razvoj i Europskom fondu za ribarstvo. Regulativa se odnosi na sve fondove, dok se specifičnosti svakoga pojedinog fonda mogu pronaći u regulativi koja zasebno definira svaki pojedini fond. U ovom se članku obrađuje nova zajednička regulativa koja će se, nakon konačnog donošenja, odnositi i na Hrvatsku za razdoblje financiranja u razdoblju članstva u EU od 2014. do 2020. Navest će se ciljevi koji se žele postići do 2020., koje su ključne promjene u odnosu na prethodno razdoblje financiranja, alati kojima EK želi unaprijediti učinkovitost korištenja sredstava i novi način raspodjele sredstava po fondovima. 1. Strateška podloga – „Europa 2020“ 2. Strukturni fondovi i kohezijski fond 3. Raspodjela sredstava po regijama 4. Načini postizanja ciljeva u novom razdoblju financijske perspektive 2014. – 2020. 5. Zaključak
The information on the financial and business capacities of an entrepreneur can be obtained by the FINA, which takes into account almost all the available data on the financial operations of a certain entrepreneur, including his/her business capacity. Upon the estimate of the financial operations of an entrepreneur the business indicators are preferred in relation to the absolute values of the positions in the financial reports, since they do not depend on the company’s size. Besides, the business indicators are easily applicable and comprehensive to each entrepreneur, regardless of his/her expertise.
U ovom članku autor razmatra načine izračuna odstupanja ostvarenih rezultata od budžetiranih, posebno kada je riječ o fleksibilnom budžetu. Izračunana odstupanja mogu priskrbiti upravi centra odgovornosti ili cjelokupnoj tvrtki bitne informacije o mogućoj većoj potrošnji od planirane te uzrocima odstupanja od predviđenih kretanja. 1. Uvod 2. Svrha fleksibilnog budžetiranja 3. Analiza odstupanja 4. Zaključak
On 23 January 2013 the European Bank Agency published the document Report on Estimate of Risk Exposure of European Bank System. The author of the article analyzes the main conclusions made by the European Bank Agency regarding the current situation of the banks in the European Union and the challenges they will have to face in their future operations.
The new regulatory framework Basel III was passed in December 2010 and becomes effective in 2013. The article presents some of the essential new initiatives and control measures, such as the leverage ratio regarding the organization of banks, which tries to correct the flaws which appeared in the previous regulations, i.e. the capital adequacy.
On the common market of the European Union there is the freedom of movement of goods within the common agricultural and trading policies. All entrepreneurs have equal opportunities and the right to choice. Upon the accession of the Republic of Croatia in the European Union, the Republic of Croatia will have to apply the measures of the common trading policy. The safeguard measures were presented in the article in the previous RRiF issue. Continuing the above stated topic, the article presents one existing safeguard measure and the one which could be introduced again.
After the accession of the Republic of Croatia in the European Union the trade between the Republic of Croatia and the EU member countries will be regarded as the trade on the internal common market of the EU, whereas the trade with other countries will be regarded as the international trade. Due to the fact that the EU has the common trade policy, the Republic of Croatia will upon the accession in the EU have to terminate the contracts on free trade signed directly. This act will re-arrange the regulations on the trade important for the Republic of Croatia. This does not mean that the trade with such countries completely loses its privileged position, but that such a position will be regulated by other legal documents.
Although the Republic of Croatia will become a territorial part of the European Union as of 1 July 2013, it will not become a part of the European monetary union. Accordingly, the “limitations” in foreign currency operations will still exist, including the limitations in foreign currency cash operations. The article presents the foreign currency cash operations in the Republic of Croatia.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
In the system of foreign currency operations one of the most significant obligations for all foreign currency residents is the obligation to prepare a number of the reports on the operations with foreign currency non-residents for the Croatian National Bank. The valid regulation which determines this area is the Decision on collection of data for the purpose of drawing up the balance of payments, the balance of the foreign debt and the balance of international investments (Official Gazette no. 103/12). This article provides the answers to a number of questions which refer to this area of the Act on Foreign Currency Operations, determined by the system of foreign currency operations of the Republic of Croatia after its accession in the European Union.
The EORI System is the system of electronic registration and identification of business and economic entities and all other persons who perform the activities encompassed by the customs legislation of the European Union. Accordingly, not all the economic entities which operate within the EU should have the EORI number, but just those which perform customs activities. The EORI number is a unique number in the entire EU, provided by the customs bodies or other competent bodies of the member countries to the legal or physical persons.
The status of the obligatory insured person is acquired on the basis of income making. The taxation of income is determined according to the source of income pursuant to the provisions of the Income Tax Act. Depending on the source of income and the way of taxation, the ways of obtaining the rights from obligatory insurance and their financing i.e. the payment of the contributions for obligatory insurance are different. The physical persons who make income from independent activities, agriculture or forestry, under the conditions that such receipts are lower than HRK 149,500.00 p.a., may pay the income tax on the permanent base determined by the Tax Administration.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
Labelling, advertising and presenting food are the most important forms of communication among the entities engaged in the food business. According to the principle of the protection of the economic interests of consumers, consumers are to be completely informed about the food placed on the market, i.e. the food which is offered to them. In such a way they can choose which food to buy and consume. The article presents the essential data on which the entities engaged in the food business should inform consumers, which are determined in the Rulebook on Informing Consumers on Food, that has been applied since 29 January 2013.
There is an increasing number of travellers who browse through the offers of tourist agencies on the Internet, sign contracts on package travel arrangements or excursions, buy and book accommodation and use other catering services. A tourist agency which directly offers services to a traveller is obliged to have an office. However, a tourist agency which indirectly provides services to a traveller on the Internet (Internet sales) is not obliged to have an office but is obliged to have business premises and one employed person who fulfils the conditions for the office manager on a full-time basis, for which the agency should obtain the permit from the authorized body.
The Fund for Professional Rehabilitation and Recruitment of Disabled Persons offers two types of subsidies to the employers who recruit disabled persons: the regular subsidies – granted continuously and the specific subsidies – granted periodically. The article presents the conditions and ways of obtaining the rights to the regular subsidies for recruitment of disabled persons, including the details regarding the forms to be delivered to the Fund.
Autor: Anamarija Miletić , dipl. oec., ACCA i ovl. rev.
The author of this article points to the current issues regarding the arrangement and re-arrangement of working time and presents some examples of the relevant enactments on such institutes. Due to the forthcoming tourist season, the season of construction works and other corresponding seasonal jobs, the questions regarding the arrangement and re-arrangement of working time are rather topical, since they result in the flexibility of the labour relationship important for the seasonal job and lessen the negative effects of the fatigue of workers caused by the longer working hours during the season.
U ovome se članka razmatraju pitanja u vezi sa suodlučivanjem radničkoga vijeća te pitanja koja se odnose na menadžerski ugovor i radni odnos. O tim pitanjima detaljnije u nastavku članka, prema presudama Županijskih sudova, s napomenom da je ova sudska praksa aktualna i u primjeni pozitivnog (sada važećega) Zakona o radu. 1. Uvod 2. Nadomještanje suglasnosti radničkog vijeća 3. Kada kod poslodavca nije utemeljeno radničko vijeće u sudskom postupku koji poslodavac pokreće radi nadomještanja uskraćene mu suglasnosti, pasivno je legitimiran sindikalni povjerenik, a ne sindikat 4. Menadžerski ugovor i radni odnos
1. Opći pregled 2. Cijene u RH 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
