As the global landscape for cryptocurrency continues to evolve, countries worldwide are defining their stances on digital assets. Indonesia, with its rapidly growing economy and technological advancements, has been no exception. The regulation of cryptocurrencies in country has become a focal point for both local and international investors. This article delves into the specifics of…
Commonly, legal opinion is what we consider as an experienced lawyer’s advice. It is presented in the form of a document prepared by a client’s requirement. The article will provide you with all interested details regarding the provision of legal consultation. Legal opinion: Why do we need it? Banks frequently demand LOs from risky businesses…
1. Sorts of Commercial Units, Their Homestead and General Charge issues This country offers diverse business units with distinct lawful divisions, including the SA requiring EUR 30,000 minimum capital and the SARL with EUR 12,000, managed by boards of directors. The SARL limits subsidiaries to one hundred and could not trade publicly, while the SCA…
1. Trade License Acquiring a pervasive trade licence is a pivotal step for most commercial functioning in Switzerland. This licence is mandatory that assures your commercial functioning bonds to indigenous market rules and protocols. Here’s what you should know: Submission routine: You can apply for a commercial licence to the local canton’s market branch. This…
This is a new investment opportunity – SPI license in UK for sale. Please check out the main details regarding this proposal below. SPI license in UK for sale: key considerations Small Payment Institution (SPI) in UK for sale; Company was licensed by FCA in 2018; Allowed activities (money remittance, foreign exchange); Company has 3…
Seize the opportunity to effortlessly establish your business in the UK with our ready-made company, complete with premium bank accounts at Barclays and HSBC. Key features Company for Sale in UK with Barclays & HSBC Accounts Company Details: – Incorporated: 2024 – Registered Address: England – Company Type: Private Limited Company – Nature of Business…
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An active transportation company limited by shares (SA) in Switzerland is now available for sale. This company, was established in 2020 and operates in the passenger and cargo transportation sector with a focus on sea and rail transport. Key Features Transportation Company in Switzerland Corporate Structure Form: Company limited by shares (SA) Year of Registration:…
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+1 (888) 647 05 40Croatia is one of the best nations for the establishment of business because of its economic stability, excellent geographical position, simple process of company registration and, of course, favourable taxation regime. Before starting a business in Croatia every entrepreneur ought to know all subtleties of taxation in commerce activity.
Corporate Income Tax in Croatia is 18%
Taxation for nonnatives companies is spread only on the income with a Croatian source. According to the size of the business, the amount of the investment, and the number of new jobs generated, companies that qualify for the Investment Promotion Act may be available for a 50% or 100% discount on the income tax rate for a 5 to 10-year period. The required investment in fixed assets is € 50,000 with the creation of three new jobs for microenterprises and € 150,000 with the creation of five new employees for small, medium-sized businesses, and large companies.
If a company is formed and registered in Croatia, or if it is controlled and managed there, it is considered to be a resident.
Taxes on capital gains are at the ordinary corporate income tax rate of 18%, which is included in income tax (or 10% for businesses with yearly incomes under HRK 7.5 million).
Tax deductions range from 5% to 50% for amortizing both physical and intangible assets. This devaluation has no impact on real estate, financial assets, cultural landmarks, or works of art.
Interest payments are deducted up to 30% of the taxpayer’s profits before interest, tax, depreciation, and amortization, or up to EUR 3 million, whichever is larger. Interest costs that aren’t able to be written off in the year they occur can be carried forward for a total of three years.
In general, bad debts are deductible. Deductions for write-offs of receivables made by the bankruptcy rules that apply to special interest organizations are also permitted.
Up to 2% of your taxable income from the prior year may be deducted as a donation to charitable organizations. If donations are made under ministerial regulations on the support of unique activities or programs, this rate may be higher.
Taxes and fines are not deducted from income.
Up to five years’ worth of tax losses can be carried forward.
VAT, or value-added tax, is 25%. If you’re beginning a business in Croatia, you should be aware of this. The decreased VAT rate for lodging, food, and newspapers is 13%. 5% VAT is charged on several commodities, publications, and medical supplies.
Foreign businesses often have to register as non-resident traders for Croatian VAT in the following circumstances:
A real estate tax of 3% of the subject property’s selling price is imposed on the acquisition of real estate. Property transfer tax is not applied to the purchase of property that is subject to VAT. Regular property taxes are not due.
The employer is required to pay 16.5% of the employee’s wage in social security payments. Firms with 20 or more workers that don’t follow the rules for handicapped employees are required to pay a monthly fee equal to 30% of the minimum wage (HRK 4,687.50 in 2022).
Payroll tax is not the responsibility of employers, however, they must withhold 20% to 30% of employees’ gross compensation.
Depending on the kind of firm, the necessary yearly membership price to the Croatian Chamber of Commerce ranges from HRK 42 to HRK 3,973.
In Croatia, there are no stamp taxes. Companies may be required to pay payments for cultural monuments, tourism, and forests.
Please contact us to get more information.
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The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.