According to the Amendments to the Act on State Subsidies for Education and Training all enterprises, regardless of their size, may reduce the basis for the calculation of the profit tax or the basis for the calculation of the tax on income from independent activities by up to 60% of the justifiable expenses for the general education and training, i.e. up to 25% of the justifiable expenses for the specific education and training of their employees. Micro- and small-sized enterprises may increase this percentage by 20 percentage points and middle-sized ones by 10 percentage points. The enterprises, which perform practical teaching and training exercises for the vocations within the system of the related crafts businesses, may reduce the basis of the profit tax or the income tax by the amount of the awards paid to the trainees during their training process, up to 15% of the profit or income from independent activities, taking into consideration the subsidies of a small value.
Autor: Dr. sc. Đurđica JURIĆ , prof. vis. šk. i ovl. rač.
The legal and physical persons – profit tax payers are obliged to deliver their annual financial reports for the previous calendar year for the statistical and other needs to the FINA until 31 March of the current year at the latest. Besides the Balance Sheet and the Profit and Loss Account, enterprises are obliged to deliver to the FINA the additional data referring to the specific items of the assets, liabilities, expenses and income as well as the data on the number of employees. These additional data are important for the needs of the State Bureau of Statistics because it is possible to determine the essential economic indicators based on such data.
Autor: Dr. sc. Đurđica JURIĆ , prof. vis. šk. i ovl. rač.
Annual financial reports are to be submitted to the FINA for the statistical and other needs, as well as for public disclosure. FINA keeps the Register of Annual Financial Reports and such data an be accessed publicly. All the companies, regardless of their size and type, are obliged to submit the Balance Sheet and the Profit and Loss Account including some additional data for the statistical needs. For the needs of public disclosure companies deliver to the FINA the complete set of the annual financial reports, except small-sized enterprises which do not draw up the Report on Equity Alterations neither the Cash Flow Report.
The article analyzes the legal framework of determination and use of the profit i.e. loss coverage for 2013 and the accounting for distribution of profit and loss coverage. It also describes the accounting for advance payment of the profit during 2013 and the payment of the profits realized in 2013 and in the previous business years.
The profit tax payer records the calculated profit tax as a part of the realized profit in the current period. Besides, the tax payer records the tax which refers to the unrealized profits as well as the tax on the loss of the current period, which is presented as a deferred tax liability i.e. deferred tax assets up to the moment when the events they refer to have been recorded as a part of the profit of the current period. In the case of deferred tax assets, the tax payer should consider the issue of presenting such assets due to the plans of the management regarding the possibility of realizing a non-taxable profit in the future periods, in order to use the deferred tax assets. The deferred tax liability mostly arises from the transactions in the capital which have not yet been realized.
Voucher sales, as one of the most frequent forms of the internet sales, has lately been a very popular form of sales. The article presents the accounting for voucher sales by the voucher seller, partner – seller of goods and services and the final customer. The practical examples show the corresponding recordings in the accounting of all the participants in the voucher sales. The article states the tax position of the above stated transactions.
Autor: Mr. sc. Katarina HORVAT JURJEC, dipl. oec. i ovl. rač.
The procedure of reversed charge is to be applied upon deliveries of used materials and those which cannot be used in the existing shape, waste, industrial and non-industrial waste, recycling waste, partially processed waste and other goods and services determined by the Rulebook on Value Added Tax. The amendment, which became effective on 1 January 2014, regarding the tax status of the recipient, now determines that he/she has to be a tax payer and recorded in the Register of VAT Payers, which was not the case in 2013. In the case when used materials or waste are purchased from citizens, it is important to differentiate whether they represent their personal property or they are engaged in waste collection activities.
This budgetary workshop presents and explains the recordings of the resignation of the debt regarding the received cash loan and the replacement of the long-term non-financial assets (land). Upon the resignation of debt regarding financial assets it is obvious that the liabilities to the creditor do not longer exist. However, it is questionable whether in such a case the income from the resigned debt should be recorded or whether it is sufficient to just re-classify the results in the Group 92. In the case of land replacement it is important to carefully determine the value of the land which is replaced and whether, if necessary, the difference in value should be compensated.
Autor: Mr. sc. Nada DREMEL , dipl. oec., ovl. rač., ovl. rev. i porezni savjetnik
The expenditure of the period usually also comprise the costs for the current and investment maintenance. It is important to differentiate between the costs of the current and investment maintenance and those for additional investments. If the costs of the current and investment maintenance were presented as the additional investments on the assets, such a recording would result in the incorrect presentation of the annual financial result.
Autor: Mirela GLAVOTA, dipl. oec., ovl. rač. i ovl. rev.
According to the provisions of the Sports Act a referee is the person who participates in the organization and running of a sports competition and who fulfils the conditions determined by the regulations of the corresponding national association. Due to the fact that national associations operate independently, the compensations to referees for participating in the organization and running of sports competitions are different. The ways of their payment are also different.
The system of sports and sports activities is regulated by the specific act. It also determines the contract relations between athletes – physical persons, who may perform their activities professionally, as amateurs, according to the contract on employment or as independent activities, and the persons who they deliver their sports services to. Due to the specifics of sports activities, the contract relations between athletes and their clients are also determined by certain provisions of the Act on Obligatory Relations and the Family Act.
The Government of the Republic of Croatia adopted on 30 January 2014 the Proposal of the Act on Financial Operations and Accounting of Non-Profit Organizations and sent it to the Parliament for the first reading. The authors of the article provide a review of the key provisions of the proposed Act. The basic points of this Proposal refer to the persons obliged to apply the principle of the appropriate financial management and controls, accounting, financial reporting, the specifics of performing an economic activity and the register of non-profit organizations.
Autori: Mr. sc. Ivana JAKIR-BAJO Ivana VARGAŠEVIĆ, dipl. oec.
A salary in kind is defined as giving certain goods to the worker or using a certain right without compensation or including a partial compensation. The receipt or a part of the receipt, which is not paid to the employer by the employee is considered a net salary including VAT. Due to the fact that the income tax is a direct tax which should be settled before placing cash or goods on disposal, the income tax on the receipt in kind should be added to the net receipt, i.e. converted into the gross amount. The salary in kind, determined in such a way, may be contracted as a part of the regular salary for the particular month or may be paid periodically without signing the particular contract. Such a difference affects the way of payment of contributions from the salary, especially in the case of the limited monthly base for payment of the contribution for pension insurance, the determination of the compensation for sick leave, the compensation during the period of annual holiday, etc.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
Due to the new way of reporting on non-taxable receipts for physical persons realized on a business trip, a field work, upon the use of a private car for business purposes and similar issues, there are dilemmas regarding the submission of the Form and different cases when such a For is to be submitted and when not. The article provides some replies to the above stated questions.
Autor: Anamarija Miletić , dipl. oec., ACCA i ovl. rev.
Each tax payer has the right to recognize the VAT calculated by the supplier on the invoice for the delivered goods and services as a pretax, if certain conditions have been fulfilled. A pretax represents a category of the incoming VAT, which is principally not included in the costs of purchasing certain goods or services, but only for the VAT payers and only if certain conditions have been fulfilled. The closure of the pretax account with the account of the VAT liabilities is made upon the expiration of each accounting period. In certain tax situations the VAT payers may recognize a pretax from the received invoice only partially. All of them should keep in mind the fact that they have to “return” the used pretax, if the conditions for the recognition of the pretax have been changed, for example in the case of leaving the VAT system.
As of 1 January 2014 the deliveries of goods and services to the diplomatic missions and consular offices as well as to the international bodies recognized as such by the Republic of Croatia subject to the new regulations on VAT payment exemption. According to these regulations the VAT exemption may be obtained by making an application for VAT return under the condition that the goods are delivered from the Republic of Croatia and not directly at the seller’s or service provider’s, any more. The deliveries of goods and services to the European Union, the European Community and other European bodies subject of VAT payment exemption directly at the seller’s or service provider’s by submitting the Receipt on VAT Payment and/or Tariff Payment Exemption. The article states the specifics of the above stated isssues.
The article presents the parts of the study prepared by the European Commission – Directorate-General for Taxation and Customs Union , which analyzes the taxation trends and provides the proposals for the changes of the taxation systems in the member countries. Some proposals include the reduction of the taxation of the income from work, the expansion of the tax base in different tax types. There are also some considerations regarding environment taxes due to competition. Finally, it provides the recommendations how to improve the collection of taxes, i.e how to prevent tax evasions.
The role of internal auditing is not directly determined by any specific act, although its function in all types of companies is becoming more important every year. The author of the article presents the role of internal auditing in leasing companies.
1. Nova pravila o javnim nabavama u EU-u 2. EU prihvatio nova pravila o hipotekarnim kreditima 3. EP usvojio izmjenu propisa o insolventnim tvrtkama 4. Bolja prava sezonaca u EU-u 5. Započeo je natječaj za Europsku nagradu za promicanje poduzetništva 6. Najveće europske banke morat će izdvojiti rizičnije poslove 7. Austrija povećava oporezivanje banaka 8. Korupcija pogađa polovinu kompanija u EU-u
Foreign currency operations in the Republic of Croatia subject to the special regulations. After the accession of the Republic of Croatia to the European Union their legal framework underwent only minor changes compared to the previous one. The article provides an overview of the important provisions in the field of foreign currency operations which are currently being applied in the Republic of Croatia. It presents the legal framework, explains the foreign currency residency, defines the basic division of foreign currency operations, points to the rules of foreign currency operations, reviews the procedures of collection of payment and payment in kunas, including the payment transactions with foreign countries, stresses the rules of clearing payments and accounting settlements and reminds on the simulated contracts, control books and the statistics of foreign currency operations.
Autor: Mr. sc. Nada DREMEL , dipl. oec., ovl. rač., ovl. rev. i porezni savjetnik
All the physical persons who perform independent activities in crafts business, free professions, agricultural activities and forestry activities, from which they realize income based on the data stated in the corresponding business books and records, were obliged to determine the final account of their business operations for 2013 and submit the tax return form (DOH Form) until the end of February 2014, at the latest. This article explains the ways of conducting control procedures upon processing of annual tax return forms of crafts businesses for 2013 and the verification of the tax return, including issuing a temporary or final tax ruling.
Autor: Mr. sc. Mirjana MAHOVIĆ KOMLJENOVIĆ, dipl. oec.
A child benefit represents a cash receipt used by the parent or the user of the benefit to support and educate the children, and cannot be the subject of the distraint order or insurance, except in the case of the court decision in favour of the children which are supposed to acquire such a benefit. This article presents the procedure of obtaining the right to a child benefit.
In the Republic of Croatia the directives on co-ordination refer to the payments from the pension insurance, health insurance and health protection, family benefits and compensations to the unemployed persons. The family benefits in Croatia comprise child benefits, compensations for maternity leave and parent compensations. According to the EU directives on co-ordination, a family benefit (Directive 883/2004) comprises a child benefit only, whereas compensations for maternity leave and parent compensations are regarded as benefits from health insurance and protection. Accordingly, this article deals with the co-ordination of family benefits according to the EU directives, which comprises a child benefit in the Republic of Croatia.
The regulation which determines the mediation in recruitment and the rights during the period of unemployment was amended for four times. The latest changes refer to the Act on the Amendments to the Act on Mediation in Recruitment and the Rights during the Period of Unemployment, which became effective on 1 January 2014. Thus, the Act was complied with the provisions of the Act on Employment Promotion, the new act on Crafts Businesses (in most parts), the provisions of the Act on Contributions, the new Act on Pension Insurance, the Act on the Amendments to the Labour Act, etc. One of the basic rights during the period of unemployment is certainly the cash compensation. The person who was employed has the right to the cash compensation in accordance with the strictly formal conditions determined by the Act. The author of the article points to the fact that according to the determined conditions of the new Act the persons who were performing independent activities also have the right to such a compensation.
All the Croatian seamen who sail on the ships in international navigation, regardless of the flag they sail under, have the equal rights and obligations in view of the pension and health care insurance and the taxation system. The seamen have the opportunity to have a mandatory insurance policy in the period longer than the period of being on board. Upon the accession of the Republic of Croatia to the European Union the new regulations have been applied regarding the determination of the national legislation which defines the issues of mandatory insurance and the obligation to pay contributions.
If an employee has been made redundant due to econoic reasons, and he/she does not have the right to the pension due to age, the employer may, instead of severance payment, pay a certain amount of money into the third pension pillar and in such a way compensate for the difference of the pension up to the amount of the pension due to age. It is a life-time severance payment, which is paid to the beneficiary on the monthly basis. The beneficiaries of the pension bought-up receive a permenent increase of their pension, which improves their financial and social security. According to the corresponding tax regulations regarding insurance premiums for the bought-up part oft he life-time pension, paid by the employer in the moment when an employee gets retired, represents a recognized expenditure of the employer and is not considered as an income of the employee.
The author of the article analyzes some relevant issues regarding the rights on the basis of the unemployment status, including the right to be entered into the Register of Unemployed Persons, as the rights which are limited in terms of time. There is a new possibility to change the cause of disability due to the changed state of disability (the professional disability is changed into general disability). The article also analyzes the rights based on the direct danger of disability, for which a person has not fulfilled the conditions due to the fact that he/she has not received the compensation of salarie due to the lower salary in some other working position. The article also deals with the beneficiaries of pensions due to old-age, who do not have the right to the pension supplement. All the above stated issues are presented in view of the recent court practice of the High Administrative Court of the Republic of Croatia.
Although a company becomes a legal person at the moment of being entered in the court register, the legal business according to which the company creates legal effects among founders is a pre-company. The person responsible for the obligations taken on behalf of the company before its registration in the court register is the one who has taken them in the name of the company and its founders, due to the fact that a pre-company is not a legal person and cannot acquire rights or take obligations. Accordingly, the temporary responsibility for the company also lies on the person who has taken over the obligations on behalf of the future company – legal person, i.e. the person who represented the pre-copany. In the case when some business operations are performed in the name of the company before it has been entered into the court register and thus in the time of such an entry the assets of the company are lower than determined by the Articles of Incorporation, the Statute or the Statement on the Company’s Establishment, the founders are obliged to pay the missing amount on the company’s account. The pre-company stops existing upon its entrey into the court register.
Strategic planning represents a part of the planning within which ministries and other state bodies on the level of the structural classification define their objectives and priorities and the ways which will enable their achievement in the future. The Act on Budget determines the obligation to draw up strategic plans for all the related persons. Every year the Ministry of Finance prepares the instructions for preparation of strategic plans in order to secure the uniform and equal approach to their preparation. Besides, in the Statement on Fiscal Responsibility the head replies to the first two questions from the Questionnaire, which test the activities of preparation and disclosure of strategic plans and their connection to the state budget.
Autori: Ana MICHIELI PAVUNA , dipl. oec. Ivana KUNIĆ , dipl. oec.
The Statement on Fiscal Responsibility is to be prepared and submitted for the year of 2013, as well. This article presents and overview of its submission and stresses the specifics of its preparation upon the change of the head i.e. the change and appointing to the position. It also points to the changes of of the acts and enactments which became effective in 2013 and which will affect filling in the Questionnaire on Fiscal Responsibility that represents one of the bases of drawing up the Statement on Fiscal Responsibility.
The process of managing the property of the Republic of Croatia is based on the principles of openness, predictability, efficiency and responsibility and is determined by the Act on Management and Disposal of the Property Owned by the Republic of Croatia. The new Directive on Leasehold and Easement Rights on Real Estate Owned by the Republic of Croatia was passed in order to further determine the leasehold and easement rights for the purpose of constructing the plants of renewable sources of energy and co-generation. The article analyzes the establishment of the leasehold and easement rights, the establishment of the leasehold for the purpose of constructing the plants of renewable sources of energy and co-generation and the establishment of the leasehold rights on the real estate in order to realize the projects in tourism.
The Public Procurement Act determines the reasons for annulment of the public procurement procedure. It should be pointed out that out of certain reasons the client may annul the public procurement procedure, whereas in some other cases the client is obliged to annul the public procurement procedure. If the bidders have doubts on the reasons for annulment of the public procurement procedure according to which the client has made a decision on the annulment, they may make a complaint on such a decision. This article states and analyzes the reasons for annulment of the public procurement procedure, the procedure of the annulment of the public procurement by the client and includes the examples from the practice regarding some reasons for annulment.
1. Uvod 2. Cijene u RH i EU-u 3. Proizvođačke cijene industrije RH i EU-a 4. Industrijska proizvodnja RH i EU-a 5. Vanjskotrgovinska razmjena 6. Turizam 7. Plaće 8. Likvidnost i insolventnost