Računovodstvo, revizija i financije

Računovodstvo, revizija i financije



rrif - 2.2020, str. 9

Financial and Tax Reports for Dissolution of Company without Liquidation

rrif - 2.2020, str. 13

In 2020, companies which stop operating without liquidation are required to prepare financial statements and tax returns within 8 days of being deleted from the court register. This is the result of the Amendments to the Profit Tax Act. Also, companies which stopped operating without liquidation  in 2019 are required to prepare financial statements and file tax returns.

Accounting for Costs of Real Estate Maintenance

rrif - 2.2020, str. 22

In the balance sheets of most companies, especially those engaged in the production, trade, tourism, etc., real estate makes a significant asset item. Accordingly, these companies often incur costs related to the maintenance of real estate such as the cost of minor repairs, maintenance of heating, cooling, renovation of exterior and interior walls, floors, joinery, etc. The author explains the costs of regular and investment maintenance of real estate and provides examples of accounting for such costs. In addition, the article explains the accounting for the cost of replacing significant parts of real estate and plant and equipment implemented in real estate.

Accounting Documents in Entrepreneurial Business

rrif - 2.2020, str. 28

Only the proper and credible accounting document which has the required contents can be the basis for posting a business event. Checking accounting documents is the first step in protecting an entrepreneur from posting on the basis of incorrect documentation. The person to whom the responsibility for verifying the correctness of accounting documents is delegated should be well acquainted with all the  stages of the business, the accounting process and the legal framework governing the contents of the accounting documents. The Accounting Act and the General Tax Act allow for the conversion of accounting documents made on paper into electronic records, but it is necessary to ensure the authenticity of origin, the completeness of contents and readability from the moment of conversion to the end of the period determined for keeping the accounting document. Once the "paper" accounting document has been converted into an electronic record and all the precautionary methods have been taken, it is allowed to destroy the original documents even before the deadline for keeping them.

Donation of Assets

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The procedure of recording the donation of long-term non-financial assets depends on whom the assets are donated or whether it is a person within the same budget or a person outside it. However, it is not explicitly stated whether or not these assets should be adjusted to the market value of those assets or whether or not a revaluation procedure should be carried out.

Co-financing and Donation

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Since the concept of co-financing is not regulated by law, it may cover different contractual relationships. One of them refers to certain forms of donation. According to the obligations which exist or do not exist when co-financed, it should be properly accounted for. Although tax regulations must be respected when donating to legal entities, the admissibility of donating to other legal entities that have non-profit characteristics is governed, in principle, by internal acts of the non-profit organizations they donate. These acts are the source of financial planning for such flows.

Foreclosure on Salary in 2020 - News

rrif - 2.2020, str. 39

In this article, the author considers foreclosure (salary seizure) as a means of enforcement by which creditors (enforcers) forcibly obtain their monetary claims.
The author  points out that, since the beginning of this year, a new net salary amounting to HRK 6,434.00 has been applied in the whole of 2020, and serves as a basis for calculating how much of a salary can be foreclosed and how much is not to be foreclosed. This basis (net salary) applies in the case of late payment of claims on the basis of a debt-creditor relationship, alimony, and tax debt.

Control of Data Which Rights from Pension Insurance Depend on

rrif - 2.2020, str. 44

One of the important elements in determining the value points (and thus the amount of the pension) are, in addition to the period of insurance, the salaries that are recorded in the HZMO registry. In order to provide users with an accurate calculation of value points, the Institute  performs control of data for exercising the rights in accordance with the provisions of the Pension Insurance Act.

Application of Tax Exemption according to Art. 39 of VAT Act of January 1, 2020 by All businesses - regardless of Their Legal Form

rrif - 2.2020, str. 53

As of 1 January 2020, the new rules regarding the taxation of trade between Member States have been applied. The tax exemptions for deliveries within EU member countries the Council Implementing Regulation (EU) 2018/1912 of 4 December 2018 are applied, the provisions of which are not included in the Amendments to the VAT Act but are directly applied on the transactions within the EU.
The deletion of Art. 39, paragraph 3 of the VAT Act has resulted in significant changes in domestic traffic Accordingly, the exemption applies to all taxpayers who supply the goods and services stated in this article, regardless of their legal form. This taxpayer group will make exempt deliveries as of January 1, 2020 and is not entitled to pre-tax from received invoices. In addition, these taxpayers should also correct the pre-tax on commercial goods they have purchased and used the corresponding pre-tax in the previous period of 5 years for commercial property and 10 for real estate.

News regarding VAT Exemption in Republic of Croatia for Diplomatic Missions, Consular Posts and Other International Bodies

rrif - 2.2020, str. 63

The author of the article clarifies the news regarding VAT exemptions for diplomatic and consular missions and special missions and international organizations based in the Republic of Croatia, in another EU Member State or in a third country, EU institutions or bodies with headquarters in the Republic of Croatia , in another EU Member State or in a third country, and the armed forces of other North Atlantic Treaty Organization (NATO) member states, in accordance with the amended Regulation defining the implementation of the above stated exemptions.

Determining Profit Tax Base by Applying Monetary Unit Principle - PD NN Form for 2019

rrif - 2.2020, str. 71

The calculation of the profit tax base has its own rules, due to the fact that certain income is non-taxable and some expenditures should be added to the tax base. However, in view of the calculation of results and the tax base by means of the monetary unit principle, legal provisions should be fully applied in reducing the accounting principle according to which the business records are kept on a monetary unit  basis including the calculation of the tax base.


rrif - 2.2020, str. 88

Capital gain represents the difference between the sales and the purchase value of a financial asset, while capital gains tax represents a tax  to be paid on the realised positive difference. The increase in the value of financial assets acquired in 2017  and misappropriated in 2019 is taken into account. Capital income derived from capital gains is considered as final income and no annual income tax return can be submitted for such receipts. This article presents the procedure for determining capital gains of natural persons that may have arisen during 2019 and which are taxed in 2020.

Compulsory Insurance and Calculation of Compensation to Management Board Members – Foreign Citizens

rrif - 2.2020, str. 101

Regarding the members of the management board, foreigners who are employed and receive salaries or income from non-independent work, as well as domestic board members, should take into account the minimum monthly basis for payment of the contribution in the amount of HRK 5,682.30 for full-time employment. However, the income paid to board members – foreign citizens is usually taxed in the way determined for other income. In some cases, the payer is also obliged to calculate the contribution, while in some cases it is the obligation of the foreign board member to apply for compulsory insurance independently.

Persons Obliged to Pay and Ways of Payment of Membership Fees to Tourist Boards under New Law

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In 2020 the number of tourist board  membership fee payers has been reduced, including the simplification of payment of such a fee. Membership fees are more uniform and do not depend on classification of tourist places.

Submission of Form OPZ-STAT-1

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Statistical report on due but unsettled invoices (Form OPZ-STAT-1) is required to be compiled by all taxpayers entered in the VAT register who, as of December 31, 2019, have recorded due and unsettled receivables for deliveries of goods and services
The report is submitted electronically to the Tax Administration within the deadlines for filing income tax returns (until 29 February) or profit tax (until 30 April).
The author of the article presents the persons obliged to submit the report and explains the way and gives an example of filling in the Form OPZ-STAT-1.

Financial Leasing in View of VAT Taxation – Court Practice (Part 2)

rrif - 2.2020, str. 118

The article presents the viewpoints of the Court of Justice of the European Union on the calculation of the proportion of the deduction of pre-tax for financial leasing, and on the possibility of recording  such a transaction as a delivery of goods under different circumstances of performing financial leasing. The Court analyses the case of calculating the proportion of the withheld tax deduction in circumstances where overheads are included solely in an the exempt financial transaction. Furthermore, in other two cases of financial leasing in different circumstances, the Court analyses whether the supply of goods has been effected with compensation.
In the case of financial leasing, the time of making available the object of the lease is generally considered to be the delivery of goods effected at the time of its making available.

Taxation of Crypto currency with Income Tax

rrif - 2.2020, str. 123

A special type of financial asset, which gained a great popularity in 2017 due to the large increase in value, is crypto currency, although bit coin, as the most famous crypto currency, was created 10 years ago. The article provides more information on how income is determined and how capital gains are taxed on crypto currency trading, and how income is taxed on the use of crypto currency.

New Excise Regulations in 2020

rrif - 2.2020, str. 131

The tax reform through the fourth round of tax relief also includes excise legislation. The amendments relate to administrative burdens and simplifications in the application of excise regulations, such as the elimination of the submission of monthly reports by excise duty payers for tobacco products. Other changes relate to the reimbursement of a part of the excise duty on diesel used as motor fuel in the commercial transport of goods and passengers by rail - equalization with carriers, and the amendments also transpose EU regulations into the national legal order.

Annual Income Tax Return for Seamen in 2019

rrif - 2.2020, str. 137

All seamen (residents) who have earned income from non-independent work during 2019 are required to file an annual income tax return, whilst depending on the number of days spent in international navigation, income tax liabilities are or are not settled. from independent work. A seaman who as a member of a ship sails on a national voyage employed by a domestic employer and for which a domestic employer calculates and pays contributions, income tax and surtax during the year does not  subject to the provisions of the regulations explained in this article, even in the case when the ship occasionally sailed during the calendar year  in international waters for the purpose of carrying out a ship venture. This article deals with the annual income tax filing of crew members on board in international waters.

Calculation of Annual Income Tax for Natural Persons for 2019

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Natural persons, residents of the Republic of Croatia can earn different types of income during the year. In most cases, income tax pre-payments are made during the year upon payment of receipts. However, for some types of income this is not considered as the finally paid income tax, but at the end of the year an annual tax on income and surtax is determined for which the Tax Administration issues a resolution, which is settled after July 31 of the following year. The article presents for which income and cases the annual return forms (DOH, INO-DOH, ZPP-DOH) should be submitted, and when the calculation is done by the Tax Administration.

IASB Framework for Preparation and Presentation of Financial Statements

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The definitions of assets and liabilities, which determine their fundamental characteristics and the criteria to be fulfilled to qualify them for recognition on the balance sheet, are a key part of the Framework. A fundamental feature of a certain liability is that the entity has an existing debt. A liability is a task or responsibility to act or perform in a certain way. The main method of estimating the position of the financial statements that companies most commonly apply is the cost of acquisition method. It is usually combined with other valuation methods.

Lower Fees for Payment Transactions and Digital Tax

rrif - 2.2020, str. 164

New measures have been adopted in the European Parliament to prevent VAT avoidance in e-commerce, causing EU member states to lose € 37 billion in tax revenue annually. New regulations for consumer protection in line with digital development are applied in the EU. The tourist agency Booking.com is obliged to change the way it presents its offers, prices, and discounts to its customers, which should result in the increasing transparency.

Default Interests and Interests between Affiliates as of 1 January 2020

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According to the Profit Tax Act the decisions on interests between affiliates are made at the beginning of each year, whereas the decisions on default interests are made every half a year. The article provides the information on default interests and interests between affiliates. It also presents the highest interest rates and the interest on loans granted to physical persons by companies.

Amendments to Rulebook on Registry of Real Owners

rrif - 2.2020, str. 170

At the beginning of the year, a special regulation was amended to clarify the entry of data on the real owners of certain types of legal entities in the system of preventing money laundering and terrorist financing. In the article, the author explains the above stated changes.

How Showrooming Affects Merchant's Financial Result

rrif - 2.2020, str. 171

In retailing it has become common to offer goods in both physical and online channels, and customers are already used to it. Online sales create a problem of showrooming with physical stores, which can eventually turn into a serious sales (financial) threat to the management if the competition persistently offers better online sales conditions. The article explains when and how showrooming can slightly increase a merchant's sales results and what can be done to turn the negative effects into benefits.

Annual Report on Income and Expenditure from Exchange of Goods and Services Abroad

rrif - 2.2020, str. 175

Within the foreign exchange system, there are some reports to be submitted by persons if they are not through the CNB directly included in one of the statistical samples. One such reports is the report relating to services provided above a certain level in relation to non-residents. Although this report has been submitted for many years, the author explains how to fill it in.

Contributions of Sole Traders and Free Professions for 2020

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The bases for all the persons in the Republic of Croatia, insured per different insurances, have been calculated for all the months in 2020, starting in January, being due in February, until December with due payment in January 2021. The monthly basis for sole traders – income makers amounts to HRK 5,682.30 whereas the basis for sole traders – profit makers is HRK 9.616.20. The monthly basis for sole traders and farmers, who subject to lump sum payment of taxes, is HRK 3,496.80. The monthly basis for free professions, including athletes and artist who keep business records, amounts to HRK 9,616.20, and for those who pay taxes upon deduction it totals HRK 8,742.00. The basis for the persons engaged in agricultural and forestry activities is HRK 4,808.10. All the bases subject to the contributions for pension insurance – First Pillar 15%, Second Pillar 5% and medical insurance of 16.5%.

Amendments to Crafts Act

rrif - 2.2020, str. 187

After just over six years of the adoption of the current Crafts Act, the Amendments to the current Crafts Act have been in force since the beginning of January this year, which introduced certain new issues in the crafts business, which is described in more detail below.

Transition from Profit Tax to Income Tax in Crafts Businesses

rrif - 2.2020, str. 190

Natural persons who carry out activities independently as a craft, agricultural activity or other professional occupation are, as a rule, subject to income tax. However, they are obliged to change the way they are taxed, i.e. to pay profit tax instead of income tax if they have received receipts in excess of HRK 7,500,000.00 in the tax period (calendar year). Return to payment of income tax is enabled after the expiry of a period of 3 years from the date of transition to profit tax, except in special cases when, at the request of the taxpayer, the Tax Administration issues a decision on income tax return taking into account certain indicators in business . Considering that from January 1, 2020, the only condition for the transition to profit tax is the income received in the previous year (now in 2019) amounting to HRK 7,500,000.00. The application for change of taxation should be submitted to the Tax Administration by January 15, 2020.

Work of Third-country Citizens in Republic of Croatia in 2020 - Transitional Regime and Proposal of New Act on Foreign Citizens

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The conditions of residence and work of third-country citizens in the Republic of Croatia are regulated by the provisions of the Act on Foreign Citizens. The provisions of the current Act on Foreign Citizens have often been criticized, and on October 31, 2019, an e-consultation was opened on the Draft Proposal of the new Act on Foreign Citizens, introducing, among other things, a system based on a positive opinion instead of a quota system of the Croatian Employment Institute on the justification of employment of third-country citizens. Until the new act comes into force, the so-called a transitional regime, in which the provisions of the current Act continue to apply. The author therefore first outlines how third-country citizens can work in the Republic of Croatia in accordance with the provisions of the current Act on Foreign Citizens, and then outlines the provisions of the Proposal of the new Act on Foreign Citizens and the changes it introduces with regard to the regulation of residence and work of third-country citizens in the Republic of Croatia.

Right to Pension from 1 January 2020

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The Amendments to the Pension Insurance Act, starting from January 1, 2020, in the part of compulsory pension insurance on the basis of generational solidarity (1st pillar) reduce the conditions for exercising the right to old-age and early retirement pension, in such a way that the age limit for the recognition of the right to old-age pension returns the insured's pension to 65 years. More favourable transition periods are determined for women, reducing the amount penalization for early retirement. The topic of this article are the new requirements exercising the rights to old age pension according to the Act on the Amendments of the Act on Pension Insurance  including the comparison and review of the differences of the Act on Pension Insurance which  applied until the end of 2019.

Liability for Company Obligations

rrif - 2.2020, str. 213

In this article, the author gives an overview of the notion of an offer, its effect and acceptance, and the arising dilemmas, especially through a review of the court practice, noting that this article largely relies on the Act on Obligations, but will also mention the specific (special) regulations governing particular issues related to bidding and acceptance.

New Regulations on Entries into Court Register

rrif - 2.2020, str. 220

In this article, the author, in a simple and concise manner, discusses certain important issues governed by the provisions of the new Regulations on the method of entry in the court register, without covering the full content of those Regulations. This Regulation regulates the form of the court register, the manner of keeping and registering, securing and storing the register data, the content and form of the application for enrolment, the contents of other prescribed forms and encrypted tags, and other issues important for keeping the register and the use of information technology.

Amendments to Act on Institutions

rrif - 2.2020, str. 224

At the beginning of 2020 the Amendments to the basic Act on Institutions became effective. The article presents the amendments and stresses the change of the way of using the profit which refers to some institutions.

Annual Financial Statements in Non-profit Accounting for 2019

rrif - 2.2020, str. 227

In the accounting system of non-profit organizations, financial statements should be prepared and submitted during the calendar year. The submission deadline for 2019 is March 2, 2020. These reports are also submitted by "small" non-profit organizations that apply simple bookkeeping.
The author summarizes the types of financial statements in the article, points out some of their positions that have proven to be controversial in the supervision, looks at economic activities that are taxable with profit taxes, and points out the obligations associated with auditing the business.

Participation of Subcontractors in Public Procurement Procedures

rrif - 2.2020, str. 236

In the public procurement system, a subcontractor is a person who directly supplies the contractor with goods, services or works directly related to the subject of the procurement.
Subcontractors have a special position in many public procurement circumstances. These particularities, with reference to resolving controversial situations, are discussed in this article.

Gospodarska kretanja u RH i EU-u

rrif - 2.2020, str. 245

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. Vanjskotrgovinska razmjena
7. Trgovina na malo u RH i EU-u
8. Turizam
9. Prosječne mjesečne neto i bruto-plaće zaposlenih
10. Likvidnost i insolventnost
11. Zaposlenost i nezaposlenost RH I EU-a

Novi propisi

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Bankrot slovenskog Adria Airwaysa i gubitci Croatia Airlinesa

rrif - 2.2020, str. 268

1. Urednički uvod
2. Kapitalna porezna amnestija
3. Amnestija za Adriju Airways
4. Uplaćeni kapital
5. Zaključak

Stručne informacije

rrif - 2.2020, str. 272
Hrvatski računovodstveni sustav HSFI, MRS, MSFI i Tumačenja (1)