The amendments to the Law on Court Register (National Gazette No. 91/2010) entered into force on 31 July 2010. The amendments are primarily significant for limited liability companies. In particular, all limited liability companies in which all shareholders are not inscribed in the Court Register are obliged to submit an Application for registration of all shareholders with all required data until 31 October 2010. More

Further to the amendments to the Croatian Corporate Profit Tax Law effective as of 1 July 2010 (National Gazette, 80/10), as summarised in our Newsflash of 1 July 2010 Amendments to the Croatian Corporate Profit Tax Law effective as of 1 July 2010, the Croatian Minister of Finance has published a list of 34 countries for which a withholding tax of 20% must be withheld from payments made for services provided by companies which have a registered seat or place of effective management/supervision in these countries. Any Croatian taxpayer’s making payments for such services to such companies either need to withhold tax at 20% or restructure their operations. More...

With effect from 1 July 2010, the provisions of the Croatian foreign currency legislation which prohibited residents, excluding banks, from granting short-term loans with a repayment period of less than 3 months to non-residents, except as part of direct investments abroad, have been abolished. The abolishment of these provisions should enable Croatian businesses, especially those which are part of multinational groups of companies, to utilize any surplus cash funds for group cash optimization purposes and to yield the relating benefits for their business in the form of financial income or reduced financing expense: so called “cash pooling”. More...

The Croatian Parliament has adopted Amendments to the Corporate Profit Tax (CPT) Law which will come into force as of 1 July 2010 (National Gazette, 80/10). The most significant amendments are summarized here.

The Croatian Parliament has adopted Amendments to the Personal Income Tax (PIT) Law which will come into force as of 1 July 2010 (National Gazette, 80/10). The Croatian Parliament has adopted Amendments to the Law on special tax on salary, pensions and other receipts and the Law on special tax on self employment income and other receipts (National Gazette 56/10). More...

Following the many challenges the financial services industry has faced over recent years, there appears to be a decidedly more optimistic feel emerging. Financial institutions should now be considering how fundamental strategic priorities should be pursued in the new, post-crisis environment.