Računovodstvo, revizija i financije

Računovodstvo, revizija i financije



rrif - 11.2019, str. 11

Accounting for Transactions with Credit Cards

rrif - 11.2019, str. 15

One of the most common ways of paying bills is payment by a credit card. Besides the bill, sellers provide to the buyer who pays by a credit card a slip through the POS terminal i.e. the modem, which enables a direct electronic connection with the credit card company and thus ensures the collection of payment from the credit card owner. The Act on Fiscalisation defines the credit card payment as a cash transaction despite the fact that cash is not delivered between the payer and the payee, but the cash assets are paid from the transaction account of the credit card company to the transaction account of the seller. Therefore, it is necessary to carry out the procedure of fiscalisation of bill issuing for card payments, which means that the invoice charged for a credit card must contain, in addition to the data determined by special regulations, also the data determined by the Act on Fiscalisation. This article is about accounting for business transactions with credit cards from the point of view of companies that appear in the role of seller and buyer. The use of personal and business credit cards of domestic and foreign issuers is presented and the course of business events and their recording in tax and accounting records is explained in a practical way.

Accounting for Bakery Production

rrif - 11.2019, str. 24

The author of the article presents the accounting for production of bakery products (bread, rolls, buns, etc.) in accordance with the requirements of the accounting standards. Due to the fact that such a production requires keeping the KEUB Book, the article explains the way in which it should be kept. The article also presents the importance of determination of norms in the above stated business activity and the specifics which refer to the return of bakery products and other specifics which entrepreneurs face in this business activity. 

Accounting for Process Calculation of Production

rrif - 11.2019, str. 33

In the process calculation of production it is important to identify the costs at first, which emerged in the specific period, to measure them, to present their value and to distribute them on the products which were produced in this specific period. In the case of line production, the processes which make up the procedure of production are to be defined, including the types of products in the specific process and the number of times such products go through the specific process. The corresponding costs may be distributed on the temporary cost bearer (e.g. plant) with the application of calculation by means of equivalent numbers or a simple dividing calculation.

Accounting for Taxi Drive Activities

rrif - 11.2019, str. 39

A taxi drive activity is one type of public passenger transport activity. The performance of this activity is regulated by the Road Transport Act and its implementing regulations. Taxi vehicles are passenger cars categorised as M1 vehicles. Value added taxpayers engaged in this activity are not subject to the restrictions on the recognition of pre-tax and cost recognition as it is the case with most other businesses. In the article, the author explains the conditions that entrepreneurs must fulfill in order to carry out the taxi drive activity and the accounting and tax specifics of performing this activity.

Operating Lease after Collected Compensations

rrif - 11.2019, str. 45

Companies which apply the taxation procedure after collected compensations have the right to pre-tax deduction per received invoices in the case when they have paid such invoices, In the case of an operating lease of cars used for personal transportation a 50% pre-tax deduction per received invoice is allowed if two conditions have been fulfilled – the lease service has been rendered and the invoice has been paid.

Value Adjustments and Written off Receivables from Buyers

rrif - 11.2019, str. 49

A value adjustment process which partially diminishes the value of the initially recorded receivable from buyer is carried out in the case when there is still a certain likelihood to collect the receivables (or part of the receivables) through settlement, foreclosure, activation of a payment security instrument, and other procedures by creditors defined as "actions to secure debt collection with the attention of a good businessman". Unlike value adjustments, a definitive write-off of receivables from buyers (directly charged to expenses) is carried out when there is no longer a possibility of collecting a "disputed receivable" because, for example, it is an outdated receivable that has not been previously sued or a bankruptcy proceeding is completed in which the receivable could not be collected or the buyer was liquidated. In addition to the accounting point of view, the article indicates which value adjustments and write-offs of receivables are considered tax deductible and which are not tax deductible expenses.

Current Issues in Practice

rrif - 11.2019, str. 57

This issue provides the replies regarding written-off liabilities, employment subsidies, place of taxation of provision of services, the moment of emergence of tax liabilities and pre-tax, taxation of real estate lease, contract on employment with foreign citizens, etc.

Legacy without Heir and Difference of Foreign Currency Clause

rrif - 11.2019, str. 66

This workshop presents the changes on the accounts of the Ledger referring to the legacy without an heir and the difference due to the changed foreign currency clause.
Budgetary units appear as heirs. In such a case it is disputable how to presents such assets which have been received and may be the object of foreclosure.
The purchase value of the assets does not include the difference in value which arises due to the application of the foreign currency difference clause.


rrif - 11.2019, str. 68

The workshop comprises the recording of the changes on the accounts of the Ledger in non-profit accounting regarding retail sales of products and the financial assets arising from the establishment of a company.
The sales by non-profit organisations are limited in view of the form, the way and the object of sales. Such limitations are determined by the special law which regulates sales activities. In case of sales activities, short-term assets which are sold should be recorded per purchase value.
If a company has been established through investment of objects, the value of such objects should be adjusted with the estimated value of the objects which are registered as a share capital. In such a case the value adjustment of the invested objects emerges.

Compensation for Sick Leave on Account of Employer

rrif - 11.2019, str. 70

The persons insured at the Croatian Health Insurance Institute who have acquired this right on the basis of employment have the right, except for health care, and the right to reimbursement of salary during the time of being prevented from work due to illness. The Act on Compulsory Health Insurance regulates that for the first 42 days, except in some cases of disability determined by the Act on Compulsory Health Insurance, the salary is paid by the employer at its own expense. If, in the opinion of the competent physician, the worker is still prevented from work, the salary is paid after the 43rd day by the employer and the Croatian Health Insurance Institute reimburses the compensation paid. Since the wage compensation for the first 42 days of sick leave is paid on the expense of  the employer including the payment of all statutory contributions and income tax, the employer has some freedom to determine the amount of the salary compensation, but not less than the amount determined by the Compulsory Health Insurance Act, which is 70% of the average gross salaries paid in the 6 months prior to the month when the sick leave began and may even exceed the amount if so stipulated in the collective agreement, the labour rulebook, the employment contract or if the employer decides on this.

Tax and Social Position of Posted Workers in Republic of Croatia

rrif - 11.2019, str. 77

A posted worker in the Republic of Croatia is a person who has been temporarily referred by an employer based in another country to work with an employer established in the Republic of Croatia for the purpose of performing work under a mutual agreement between the two employers. These workers remain insured on the basis of the employment relationship in the country of origin and even their contributions are calculated and paid by their employer according to the regulations of that state.
The income tax advance is generally paid in the country of residence, unless otherwise provided for in the Agreement of Avoiding Double Taxation. In this sense, the rules apply by analogy in the case of a posted worker from a Croatian employer to another country and in the case of a posted worker from another state in the Republic of Croatia, which means that the income tax advance is paid in the home country if the stay in the Republic of Croatia does not exceed 183 days. If the stay and work in the Republic of Croatia in accordance with the contract between the employers lasts for more than 183 days, the income tax advance is to be paid in the Republic of Croatia.

Vat Refund to Croatian Taxpayers from Third Countries

rrif - 11.2019, str. 83

In this article, the author writes about the conditions under which Croatian taxpayers can receive the VAT refund from third countries. The VAT refund rules for Croatian taxpayers from third countries are determined by the national VAT tax regulations which are applied in each country from which VAT is claimed. For the refund of VAT to other entrepreneurs, each country determines its own rules under which taxpayers from other countries can obtain a VAT refund for deliveries of goods and services. These rules comprise the delivery of goods and / or services for which VAT refund can be obtained, the minimum amounts for which VAT refund can be obtained, the forms for VAT refunds and the deadlines for their submission.

Contracting and Tax Treatment of Loans with Physical Persons

rrif - 11.2019, str. 90

A physical person may receive a loan from a legal person. Starting in 2019, the minimum contractual interest rate should be at least 2% so that the interest rate differential up to 2% or the non-calculated interest would not be declared as income in kind to of the physical person.
A physical person may lend his or her money to legal and physical persons, non-financial and financial institutions at home and abroad without interest. If interest is contracted, interest receipts are taxable with capital income tax on the accrual or payment of that interest.

Foreclosure Procedure and Writing off Due Tax Liabilities due to Lack of Collection Ability

rrif - 11.2019, str. 99

The tax authority conducts foreclosure proceedings for the compulsory collection of taxes and other public charges from legal and natural persons - tax debtors, in accordance with the provisions of the General Taxation Act, the Law on Foreclosure of Cash Assets, the Foreclosure Act and the Act on General Administrative Procedure. As of July 1, 2015, the competence for the enforcement of foreclosure proceedings was changed, whereby the procedure of collection and foreclosure of public payments is carried out in the regional office of the Tax Administration as a single procedure using the portal application eOvrha.
If the taxpayer's tax debt is due, foreclosure proceedings is carried out on the basis of foreclosure and authentic documents, to the extent necessary to settle the tax debt, by making a decision on the seizure and transfer of funds held by the debtor to the bank account and time deposits, and by seizing the cash assets (salary) that the debtor earns from the employer.
However, subject to the determined conditions and the submission of proof of one ‘sown income and the income and property of household members, the Tax Administration may in exceptional cases write off the due tax debt partly or in full, for which purpose the debtor is obliged to complete a sample claim form to initiate the procedure.

Transfer Pricing Documentation in Practical Way

rrif - 11.2019, str. 105

In this article, the author writes about transfer pricing documentation when drafting transfer pricing studies. The presented example is a company that has subsidies in other EU countries. The article lays out the example of compiling documentation, which is an integral part of the study, comprising the so-called. general documentation, special documentation and country report.

Payment of Other Income to Non-Residents

rrif - 11.2019, str. 110

Receipts by non-residents, when paid by domestic payers, and which are earned in the manner determined for other income, are principally taxed with domestic income tax. In the case of the principle taxation the payers have to determine whether such remuneration should be taxed in accordance with domestic regulations or whether the provisions of international treaties or regulations that the Republic of Croatia has undertaken to apply to enter the EU should apply. Such receipts may include royalties, artist’s fees, commission fees, consultations, etc., which will be discussed in particular in this article. In addition, the article explains the obligations related to VAT calculation on received services based on contracts with non-resident natural persons.

Controlled Foreign Companies – New Way of Recognition of Tax Paid Abroad

rrif - 11.2019, str. 122

Currently, possible taxation of income in the controlled foreign entities is regulated by the Art. 30.b of the Income Tax Act. A taxpayer delivers the data on the controlled foreign entities to the Tax Administration in the Form Statement of Facts Important for Taxation, whose contents are determined by the Rulebook on Enforcement of the General Tax Act. These new legal provisions actually represent the amended provisions regarding the recognition of the tax paid abroad and inclusion of the profit made by the controlled foreign companies. In addition, it should be taken into consideration that the international agreements on avoidance of double taxation are still in force.

Taxpayer and Special Procedure of Taxation for Small Taxpayers – Court Practice

rrif - 11.2019, str. 128

The author presents the views of the Court of Justice of the European Union regarding the determination of the tax status of a member of the Supervisory Board of the Foundation, and the determination of the scope of deliveries that are within the threshold determined for the application of the special taxation procedure for small taxpayers. The article also deals with the sums received for taxable deliveries to be considered within this threshold if the taxpayer applies a special taxation procedure for second-hand goods - the margin system, and what deliveries should be subject to VAT if the taxpayer exceeds the annual threshold for the application of the special taxation procedure for small taxpayers. Finally, the author refers to the Court's decision on whether it is compulsory for a tax authority to establish that a taxpayer has crossed the threshold determined for applying a special taxation procedure for small taxpayers based on the information available to him from non-VAT tax returns. and whether a Member State may withhold a special taxation procedure for small taxpayers where it is stipulated that the taxpayer should have previously applied for its application.

Lessee's Leasehold Rights

rrif - 11.2019, str. 134

The International Accounting Standards Interpretation Committee has discussed the issue of the lessee's leasehold rights under IFRS 16. A principle decision has been made which will be discussed further. The IFRS Interpretation Committee invites anyone interested in this issue to join the discussion.

Spare Parts of Household Appliances to Insure for Period of 10 Years

rrif - 11.2019, str. 136

The EU Commission has adopted higher standards for appliances requiring from manufacturers a longer shelf life and a guarantee for the purchase of spare parts to reduce waste. The EU Commission is working to change its budget rules to stabilize the economy. Specifically, the net primary government spending should not be higher than GDP growth. During September, the Payment Services Directives came into full force.

Restructuring and Pre-Bankruptcy of Company

rrif - 11.2019, str. 137

The consequence of all mistakes and inadequate management of the company, i.e. the crisis situation is outlined in the inability to pay. Restructuring as an attempt to keep alive the debtor in crisis i.e., to continue to do business mostly depends on the agreement with the creditors. The bankruptcy law regulates the pre-bankruptcy procedure, which can give the debtor a certain amount of time during which he/she will continue to work under a “protective umbrella” in order to avoid the worst - bankruptcy - by implementing a restructuring plan. Bankruptcy, in economic and financial terms means the rehabilitation of a company. Therefore, restructuring would be better carried out before filing for bankruptcy


rrif - 11.2019, str. 143

A new regulation was adopted regulating the terms and conditions of performing foreign currency exchange operations. Although the name of the regulation is the same as it was in force until September 18, 2019, nevertheless, the new Decision on the Terms and Conditions of Performing Foreign Currency Exchange Operations by Authorised Persons contains some novelties referred to in the article.


rrif - 11.2019, str. 145

Certain foreign transactions should be reported to the Croatian National Bank. One of the areas of reporting is the one related to salaries and compensations paid. The article presents this type of reporting, provides an overview and examples.


rrif - 11.2019, str. 149

Every food placed on the market of the Republic of Croatia must be safe for consumers (healthy and suitable for human consumption) and labelled properly with mandatory general (basic) and supplementary information, whereas particular types (categories) of food should have specific  information determined for that food by a special regulation. Food labelling is one of the most complex regulated areas related to food. The reason is that it covers very different and often conflicting goals, such as consumer protection, respect for product and trade secrets, the free movement of food, and the possibility of crisis management when there is a risk of adverse food effects on human health. Since labelling is the most important moment in the communication of a food producer with the consumer, it is essential that the consumer receives the correct and clear information on the basis of which they will make the decision to purchase a particular product. The article presents the mandatory general and additional information should be put on food labels and how each food placed on the Croatian market must be labelled.

Records on Working Time of Managers – Shortened Versions

rrif - 11.2019, str. 158

In the previous issue of the RRiF Journal the article on working time records of mobile workers was published.
In this issue the author continues to cover the important and permanently up-to-date topic of working time records, in such a way that he considers the issues of the working time records of managers, i.e., as the regulation defines them as workers who have the status of manager.

Personally Conditioned Termination of Employment Contract

rrif - 11.2019, str. 162

A personally conditioned dismissal is not a result of the fault of the employee, but of some durable qualities and abilities of the employee, due to which he/she cannot properly fulfill the obligations of the employment contract (employment relationship) in the required scope and quality, i.e. he / she does not have the necessary ability to perform the contracted tasks. In practice, a conditionally terminated dismissal is provided by the employer to the employees who cannot be secured the  work in jobs corresponding to their reduced working capacity (a consequence of a mental, physical or mental and physical disability).


rrif - 11.2019, str. 168

Termination of employment affects the exercise of certain rights arising from the compulsory health insurance of employees insured at the Croatian Health Insurance Institute. The article presents how the termination of employment affects the status of compulsory health insurance, reimbursement of wages during temporary inability to work, as well as some entitlements from maternity and parental support systems.


rrif - 11.2019, str. 170

The authors of this article explain the concept of minority shareholder transfers, the assumptions of the transfer, and describe the transfer process.
In addition, they cite institutes which protect minority shareholders.

Gospodarska kretanja u RH i EU-u

rrif - 11.2019, str. 174

1. Opći pregled
2. Industrijska proizvodnja RH i EU-a
3. Potrošačke cijene u RH i EU-u
4. Proizvođačke cijene industrije RH i EU-a
5. Građevinarstvo RH i EU-a
6. Kretanje cijena prodanih novih stanova u RH
7. Vanjskotrgovinska razmjena
8. Trgovina na malo u RH i EU-u
9. Turizam
10. Plaće
11. Likvidnost i insolventnost
12. Zaposlenost i nezaposlenost RH i EU-a

Novi propisi

rrif - 11.2019, str. 181

Stručne informacije

rrif - 11.2019, str. 190
Hrvatski računovodstveni sustav HSFI, MRS, MSFI i Tumačenja (1)