Minimum salary for this year amounts to HRK 3120 gross, which is more than HRK 90.45 in 2015. year, and Croatia as of this year, begins to tax capital gains tax on income at the rate of 12 per cent-are some of the legal papers that shall enter into force with the beginning of 2016. of the year.
Namely, customary, with the beginning of the year comes into force a range of completely new or changing some laws, so that with the beginning of 2016. on the strength of some of the provisions take effect amendments to the law oporezu on the income or the law on construction, as well as completely new laws on accountancy, insurance, on renewable energy and co-generation visokoučinkovitoj, etc.
With the beginning of the year comes into force and the Government’s regulation on the minimum wage, according to which the minimum gross salary in 2016. 3120 amounts, which is for kuna, nearly three percent more than in the last year. The team is by increasing the minimum wage and the proportion increases in average gross salary paid in legal entities, from January to September last year, at 38.8 per cent.
Into force with the beginning of 2016. Enter and modify some of the provisions of the law on income tax. These are the changes adopted in November 2014. of the year and most of the provisions came into force in early 2015. year, but some, such as for example, the taxation of capital gain will enter into force on the 1. January 2016.
So the citizens who for example at the beginning of this year they buy some stocks and sales during the year and the earnings on that, by the end of January, 2017. have to pay taxes on the capital gains tax at the rate of 12 per cent, plus the additional tax.
The law defines that will tax the realised capital gains were achieved through the acquisition and alienation of financial instruments and structured products acquired from 1. January 2016. and these buildings within three years. This means that the citizens would not pay the tax if they buy stocks that are holding at least three years, or if you have bought them by the end of the last or previous years.
The tax on capital gains will apply to instruments that are most commonly traded on the Zagreb stock exchange, or on stocks and bonds, as transferable securities, these certificates, as structured products. In addition, you will be paying tax on profits and remuneration derived from the alienation of shares in the capital of companies, shares in investment accounts, money market instruments, such as Treasury, Treasury and commercial bills, derivatives and the like.
After warning investors and brokers that the law provides a very complicated procedure and unnecessary administration, with short deadlines of payment, the Government has dropped the provision that taxes must be paid within eight days of receipt of the accomplishment and that on each one individually achieved the receipt of which is the source of capital income. In fact, the Government in mid-December the regulation changed the law on income tax and ordered that sales tax will be capital gains tax to pay on an annual basis, and the tax base will be the difference between capital gain and capital loss.
According to the regulation, tax payers, holder of financial assets will be required to advance the tax on income from capital on the basis of capital gains accrued, suspend and pay up to 31. January of the current year for all capital gains achieved in the previous year, and minus the realised capital losses.
Special procedure of determining the annual taxes
Pursuant to the amendments to the law on income tax, from this year, begins to be applied and the special procedure of determining the annual taxes, and it is expected that the majority of citizens, taxpayers, facilitating the obligation to submit the annual check-in. Until now, citizens, who are counting on a refund of overpaid taxes, by the end of February to the tax authorities had to hand over or send an annual tax on income for the preceding year, but will from now on for most of them to do that to the tax administration.
The word is first and foremost about the citizens who receive income from paid employment, while the obligation to continue to submit annual Sami application of income tax remains for people who monetize income from self-employment, such as sole proprietors, freelancers and other which determines the income based business books. The annual report will have to handle and the taxpayers for which the tax administration does not have data on the income. A special procedure will not be applied or in the case where a taxpayer has no obligation to submit annual tax declarations, and according to the calculation of annual tax arises the difference for payment.
For the majority of “ordinary citizens”, on the other hand, the tax administration shall determine the annual income and the difference for a payment or a refund and will deliver them about a temporary tax solution to 30 at the latest. June of the current for the previous year.
If a citizen determines that the data is not accurate or is incomplete, you will be able to within a month, at the latest by 31. July, submit a complaint about him, and will decide the tax authority shall take a decision within 30 days from the date of the received complaints. If, on the other hand, the citizen does not submit the complaint, then it is required to differentiate taxes established by the provisional tax solution to pay no later than October 31. July.