{"id":209,"date":"2023-04-07T11:20:22","date_gmt":"2023-04-07T11:20:22","guid":{"rendered":"https:\/\/companyformationcroatia.com\/?p=209"},"modified":"2024-03-13T09:13:32","modified_gmt":"2024-03-13T09:13:32","slug":"accounting-in-croatia","status":"publish","type":"post","link":"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/","title":{"rendered":"Accounting in Croatia"},"content":{"rendered":"\n<p><strong>Financial services&nbsp;<\/strong>are&nbsp;needed by most companies opened by local or foreign investors and our team of&nbsp;<strong>accountants in Croatia<\/strong>&nbsp;is ready to offer professional financial services for different types of legal entities.&nbsp;<\/p>\n\n\n\n<p>Taking into consideration the great number of foreign companies establishing branches and subsidiaries in Croatia, it is highly recommendable to be updated with the&nbsp;<strong>accounting rules<\/strong>&nbsp;in order to run correctly a business in this country. The&nbsp;<strong>Commercial Code<\/strong>&nbsp;imposes certain&nbsp;<strong>accounting standards<\/strong>&nbsp;on Croatian companies. They also have to submit annual balance sheets and other accounting documentation to the Trade Register. Our<strong>&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/about-us\">company formation agents in Croatia<\/a><\/strong><a href=\"https:\/\/www.companyformationcroatia.com\/about-us\">&nbsp;<\/a>can give you complete information&nbsp;about&nbsp;<strong>accounting in Croatia.<\/strong><\/p>\n\n\n\n<table class=\"redTable\">\n\t<thead>\n\t\t<tr>\n\t\t\t<th>\n\t\t\t\t&nbsp;Quick Facts<\/th>\n\t\t\t<th>\n\t\t\t\t&nbsp;<\/th>\n\t\t<\/tr>\n\t<\/thead>\n\t<tbody>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\tWho requires accounting services in Croatia<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\tLocal and foreign business owners with commercial activities<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\tApplicable accounting legislation in Croatia<\/p>\n\t\t\t<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; European IAS (International Accounting Standards),<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; IFRS (International Financial Reporting Standards)<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\tTypes of accounting services we offer<\/p>\n\t\t\t<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; maintaining company accounts,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; bookkeeping,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; payroll,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; annual financial statements,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; tax minimization methods,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; tax registration<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\tTax advice and compliance&nbsp;<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; regular oversee of tax legislation,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; business guidance in matters of taxation,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; tax-saving strategies<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\tWe offer support for tax registration&nbsp;<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\tCompanies must be registered for the payment of VAT, corporate tax, and other related obligations.<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\tFinancial planning for company owners in Croatia<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\tFor clients who want to make smart and risk-free investments in Croatia<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\t&nbsp;Risk assessment and evaluation&nbsp;<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\tOur accountants in Croatia can detect possible business risks and provide specific measures.<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\tTypes of audit services<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; internal control system audits,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; external and financial audits,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; regulatory audits,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; special purpose audits<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\tTax minimization methods available<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; strategic tax management imply advance payment of credits,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; registration of charities,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; retirement accounts,&nbsp;<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; travel deductions&nbsp;<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\tPersonalized financial consultancy services<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; new business approach,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; integration of new technologies,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; support for investments with high returns<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\t&nbsp;Investment consultancy for high-net-worth individuals<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\tDedicated services for better management of assets<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\tFinancial and analysis reports for companies<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\tSuch reports can reveal the financial direction of the business and can be used to attract investors.<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\tHuman resources services available&nbsp;<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; recruiting,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; drafting employment contracts,<\/p>\n\t\t\t\t<p>\n\t\t\t\t\t&#8211; employee administration-related issues<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\tExpertise provided by certified accountants (YES\/NO)<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\tYes<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t\tFiscal year in Croatia<\/td>\n\t\t\t<td>\n\t\t\t\t<p>\n\t\t\t\t\tIt starts on January the 1st and ends on 31st of December.<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t<\/tbody>\n<\/table>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#accounting-services-available-in-croatia\" title=\"Accounting services available in Croatia\">Accounting services available in Croatia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#payroll-in-croatia\" title=\"Payroll in Croatia\">Payroll in Croatia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#bookkeeping-services-in-croatia\" title=\"Bookkeeping services in Croatia\">Bookkeeping services in Croatia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#accession-of-croatia-to-the-euro-area\" title=\"Accession of Croatia to the Euro area\">Accession of Croatia to the Euro area<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#personalized-accounting-services-in-croatia\" title=\"Personalized accounting services in Croatia\">Personalized accounting services in Croatia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#what-types-of-financial-reports-must-be-filed-in-croatia\" title=\"What types of financial reports must be filed in Croatia?\">What types of financial reports must be filed in Croatia?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#bookkeeping-in-croatia-%e2%80%93-what-you-need-to-know-about-documents\" title=\"Bookkeeping in Croatia \u2013 What you need to know about documents\">Bookkeeping in Croatia \u2013 What you need to know about documents<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#what-is-the-accounting-process-for-a-company-in-croatia\" title=\"What is the accounting process for a company in Croatia?\">What is the accounting process for a company in Croatia?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#can-i-request-accounting-consultancy-in-croatia\" title=\"Can I request accounting consultancy in Croatia?\">Can I request accounting consultancy in Croatia?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#some-of-the-essential-accounting-rules-in-croatia\" title=\"Some of the essential accounting rules in Croatia\">Some of the essential accounting rules in Croatia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#vat-registration-in-croatia\" title=\"VAT registration in Croatia\">VAT registration in Croatia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#what-is-the-purpose-of-the-accounting-in-croatia\" title=\"What is the purpose of the accounting in Croatia?\">What is the purpose of the accounting in Croatia?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#tax-minimization-for-croatian-companies\" title=\"Tax minimization for Croatian companies\">Tax minimization for Croatian companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#other-tax-minimization-strategies-for-croatian-companies\" title=\"Other tax minimization strategies for Croatian companies\">Other tax minimization strategies for Croatian companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#investing-in-the-company-to-cut-the-taxes\" title=\"Investing in the company to cut the taxes\">Investing in the company to cut the taxes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#double-tax-treaties-signed-by-croatia\" title=\"Double tax treaties signed by Croatia\">Double tax treaties signed by Croatia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#taxable-profits-of-foreign-companies-in-croatia\" title=\" Taxable profits of foreign companies in Croatia\"> Taxable profits of foreign companies in Croatia<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#why-choose-our-accounting-services-in-croatia\" title=\"Why choose our accounting services in Croatia?\">Why choose our accounting services in Croatia?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/companyformationcroatia.com\/accounting-in-croatia\/#why-invest-in-croatia\" title=\"Why invest in Croatia\">Why invest in Croatia<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"accounting-services-available-in-croatia\"><\/span><strong>Accounting services available in Croatia<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Our&nbsp;<strong>accountants in Croatia&nbsp;<\/strong>provide a wide range of&nbsp;<strong>services<\/strong>&nbsp;for those who need&nbsp;<strong>financial services,<\/strong>&nbsp;among which:<\/p>\n\n\n\n<ul>\n<li>Maintaining accounts for a Croatian company;<\/li>\n\n\n\n<li>Payroll administration;<\/li>\n\n\n\n<li>Filling of accounts with the Tax Authorities in Croatia;<\/li>\n\n\n\n<li><a href=\"https:\/\/www.companyformationcroatia.com\/vat-in-croatia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>VAT registration<\/strong><\/a>&nbsp;and VAT filings in Croatia;<\/li>\n\n\n\n<li>Reviewing financial accounts;<\/li>\n\n\n\n<li>Tax minimization solutions. More can be discussed with our&nbsp;<strong>accountants in Croatia<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>Our<strong>&nbsp;accountants in Croatia<\/strong>&nbsp;deliver personalized services in compliance with your company&#8217;s needs and the legal provisions of the&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/company-act-croatia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Company Act<\/strong><\/a>. You can also find useful the following infographic about&nbsp;<strong>accounting in Croatia<\/strong>:&nbsp;<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a href=\"\/contact\"><img loading=\"lazy\" decoding=\"async\" width=\"480\" height=\"1200\" src=\"https:\/\/companyformationcroatia.com\/wp-content\/uploads\/2023\/04\/our-accounting-services-in-croatia1-480x1200.png\" alt=\"our-accounting-services-in-croatia1.png\" class=\"wp-image-124\" srcset=\"https:\/\/companyformationcroatia.com\/wp-content\/uploads\/2023\/04\/our-accounting-services-in-croatia1-480x1200.png 480w, https:\/\/companyformationcroatia.com\/wp-content\/uploads\/2023\/04\/our-accounting-services-in-croatia1-120x300.png 120w, https:\/\/companyformationcroatia.com\/wp-content\/uploads\/2023\/04\/our-accounting-services-in-croatia1-768x1920.png 768w, https:\/\/companyformationcroatia.com\/wp-content\/uploads\/2023\/04\/our-accounting-services-in-croatia1-614x1536.png 614w, https:\/\/companyformationcroatia.com\/wp-content\/uploads\/2023\/04\/our-accounting-services-in-croatia1.png 800w\" sizes=\"(max-width: 480px) 100vw, 480px\" \/><\/a><\/figure><\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"payroll-in-croatia\"><\/span><strong>Payroll in Croatia<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Payroll in Croatia<\/strong>&nbsp;is governed by the Labor Act, the Income Tax Act, and the Health Insurance Act.&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/workforce-in-croatia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Employees<\/strong><\/a>&nbsp;in Croatia are also subject to both income tax and social security contributions. Employers must withhold these taxes from their employees&#8217; salaries and remit them to the relevant tax authorities. The health insurance rate is 16.5%. Employers must ensure that their employees&#8217; salaries meet or exceed the minimum wage.<\/p>\n\n\n\n<p>The minimum wage salary in Croatia is divided into various components, like the bruto and neto aspects. Bruto refers to the overall salary figure, including all tax deductions, health insurance contributions, pension payments, and the final amount that you receive in your paycheck. On the other hand, neto is the amount of salary that will be deposited into your bank account each month after all taxes and contributions have been made. Currently, the minimum wage in Croatia in 2023 is EUR 700.&nbsp;<\/p>\n\n\n\n<p><strong>Payroll<\/strong>&nbsp;processing in&nbsp;<strong>Croatia<\/strong>&nbsp;involves calculating employees&#8217; salaries, subtracting taxes and other deductions, and issuing pay slips. This process must be completed on a regular basis, usually monthly. These records must be available for inspection by the relevant authorities.<\/p>\n\n\n\n<p>Croatian employers support social security contributions. These social security contributions also encompass work-related accident insurance, pensions, as well as benefits related to family and maternity. Pension contributions are deducted from the employee&#8217;s gross income by the employer during the payroll process. The rate of this deduction is 20% of the employee&#8217;s gross income, with a monthly cap of EUR 8,100 and an annual cap of EUR 97,750.<\/p>\n\n\n\n<p>To simplify the&nbsp;<strong>payroll process in Croatia<\/strong>, many employers use payroll service providers who handle payroll calculations and ensure compliance with all relevant laws and regulations. You can contact our<strong>&nbsp;accounting firm in Croatia&nbsp;<\/strong>for specialized payroll services and management.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"bookkeeping-services-in-croatia\"><\/span><strong>Bookkeeping services in Croatia<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Accounting and bookkeeping in Croatia<\/strong>&nbsp;are important parts of the daily management of a local&nbsp;<strong>company<\/strong>. The services of an&nbsp;<strong>accounting firm&nbsp;in Croatia&nbsp;<\/strong>are required because the<strong>&nbsp;International Financial Report Standards<\/strong>&nbsp;(IFRS) are mandatory for large companies and those listed on the local stock exchange. All other&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/shelf-company-in-croatia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Croatian companies<\/strong><\/a>&nbsp;have to report to the&nbsp;<strong>Croatian Committee for Financial Reporting Standards<\/strong>, the main accounting regulation body in the country. The accounting reports submitted to this institution must contain:<\/p>\n\n\n\n<ul>\n<li>a&nbsp;<strong>balance sheet<\/strong>,<\/li>\n\n\n\n<li>a cash-flow report,<\/li>\n\n\n\n<li>a&nbsp;<strong>profit and loss account<\/strong>,<\/li>\n\n\n\n<li>a review of the changes involving the authorized capital,<\/li>\n\n\n\n<li>comments and annexes.<\/li>\n<\/ul>\n\n\n\n<p><strong>Bookkeeping in Croatia&nbsp;<\/strong>must record all&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/paying-taxes-in-croatia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>financial transactions<\/strong><\/a>, including sales, purchases, expenses, and payments, which are entered into the accounting system. Transactions are categorized into appropriate account categories, such as revenue, expenses, assets, liabilities, and equity. Bank statements are compared to the bookkeeping records to ensure that all transactions are properly recorded and reconciled. Financial statements, such as balance sheets, income statements, and cash flow statements, are prepared based on the bookkeeping records. Bookkeeping records should be kept up-to-date and accurate. Regular review and reconciliation of records should be performed to ensure accuracy. An&nbsp;<strong>accountant in Croatia&nbsp;<\/strong>can help your business perform its bookkeeping and prepare its financial statements.<\/p>\n\n\n\n<p>Other important financial documents that Croatian companies must handle are&nbsp;<strong>payrolls and human resources management<\/strong>. Outsourcing companies are usually hired for managing payrolls and accounting reports for companies who need&nbsp;<strong>accounting in Croatia<\/strong>. Appointing independent&nbsp;<strong>auditors<\/strong>&nbsp;to monitor and verify their financial records is another obligation for Croatian companies.&nbsp;Our accountants<strong> in Croatia<\/strong>&nbsp;can provide a wide range of&nbsp;<strong>audit and accounting services<\/strong>&nbsp;for each type of company. You can rely on the support of our&nbsp;<strong>accounting company in Croatia<\/strong>&nbsp;for&nbsp;<strong>bookkeeping in Croatia<\/strong>. Clients interested in incorporation services in other countries, for example in&nbsp;<a href=\"https:\/\/www.opencompanysingapore.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>company formation services<\/strong><\/a>&nbsp;in Singapore, can rely on our partners &#8211;&nbsp;<strong>OpenCompanySingapore.com.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"accession-of-croatia-to-the-euro-area\"><\/span><strong>Accession of Croatia to the Euro area<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>On July 12th, 2022, the Council of the European Union granted approval for Croatia&#8217;s accession to the eurozone, effective January 1st, 2023, and established the conversion rate for the Croatian kuna, one euro equals 7.5345 kunas.&nbsp; Until December 31st, 2023, both euro and kuna prices for goods and services will be displayed. The exchange rate should be prominently displayed when presenting prices, as this is a crucial consumer protection measure.<\/p>\n\n\n\n<p><strong>Our accounting company in Croatia<\/strong>&nbsp;helps your business navigate the transition to the euro and ensure compliance with accounting standards and regulations. An accountant can help you understand the accounting implications of the switch from the kuna to the euro and assist with the implementation of any necessary changes to your&nbsp;<strong>bookkeeping in Croatia and other<\/strong> financial reporting processes.<\/p>\n\n\n\n<p>If you have a UK-based company and are interested in relocating to Croatia after&nbsp;<strong><a href=\"https:\/\/www.companyformationcroatia.com\/relocate-your-uk-company-to-croatia-after-brexit\" target=\"_blank\" rel=\"noreferrer noopener\">Brexit<\/a><\/strong>, it is also possible. You can discuss more aspects with our&nbsp;<strong>Croatian accountants.&nbsp;<\/strong><\/p>\n\n\n\n<p>Below is a video presentation about&nbsp;the <strong>accounting services we offer in Croatia<\/strong>:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-embed-handler wp-block-embed-embed-handler wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Accounting Services for Companies in Croatia\" width=\"840\" height=\"473\" src=\"https:\/\/www.youtube.com\/embed\/At2kMZRpijk?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"personalized-accounting-services-in-croatia\"><\/span><strong>Personalized accounting services in Croatia<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you think of hiring the services of an&nbsp;<strong>accounting firm in Croatia<\/strong>&nbsp;instead of creating such a department, it is good to know that additional services can be provided, such as:<\/p>\n\n\n\n<ul>\n<li>specific financial reports about foreign bank credits with the help of the National Bank in Croatia;<\/li>\n\n\n\n<li>assistance at the time an audit is performed in the company;<\/li>\n\n\n\n<li>support in the case of payments in different currencies;<\/li>\n\n\n\n<li>preparation of quarterly financial reports in compliance with the applicable laws.<\/li>\n<\/ul>\n\n\n\n<p>We remind that our&nbsp;<strong>team of accountants in Croatia&nbsp;<\/strong>has a wide experience in this field and they work with respect to the Croatian Financial Reporting Standards, the Accounting Act, and international laws.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-types-of-financial-reports-must-be-filed-in-croatia\"><\/span><strong>What types of financial reports must be filed in Croatia?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>An&nbsp;<strong>accounting firm in&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/why-is-croatia-an-attractive-country-for-investors\">Croatia<\/a>&nbsp;<\/strong>handles a series of reports like the balance sheet, the cash flow report, the profit and loss account, plus the annual financial reports as needed in every company. All the reports reveal significant information about the financial status of the firm, the economic outcomes and a complete image about the ways the company is managed. All the&nbsp;<strong>financial reports<\/strong>&nbsp;are imposed for all legal entities with establishments in Croatia, domestic or foreign.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"bookkeeping-in-croatia-%e2%80%93-what-you-need-to-know-about-documents\"><\/span><strong>Bookkeeping in Croatia \u2013 What you need to know about documents<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Internal bookkeeping documents like payment slips, traveling orders, outgoing invoices, payment orders, and payroll are the types of documents created in the firm. There are also external bookkeeping documents like supplier invoices, entry notifications or other statements which need to be registered in the company. Bookkeeping is extremely important for a company, and an accounting firm is definitely required for small, medium, and large&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/open-an-it-company-in-croatia\"><strong>companies in Croatia<\/strong><\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-is-the-accounting-process-for-a-company-in-croatia\"><\/span><strong>What is the accounting process for a company in Croatia?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>All the business activities are recorded with the help of bookkeeping, taking into account varied items like payroll accounts, material expenditures, trade receivables, sales contracts, inventory process, trial balance, financial reports, journals keeping the business activities entries, a general ledger that records the business performance and any financial status change. More about the services of our&nbsp;<strong>accounting firm in Croatia<\/strong>&nbsp;can be discussed with us.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"can-i-request-accounting-consultancy-in-croatia\"><\/span><strong>Can I request accounting consultancy in Croatia?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Yes, our <strong>accountants in Croatia<\/strong>&nbsp;are at your disposal with accounting consulting services for the company you own in this country. This will ensure that the company aligns with the rules and operations required in this case and that you will receive the services you need. These include:<\/p>\n\n\n\n<ol>\n<li>Optimizing financial and accounting services, as well as revising them where appropriate.<\/li>\n\n\n\n<li>Establishing accounting control systems and procedures in the company.<\/li>\n\n\n\n<li>Accounting and financial due diligence for a better operation of the company&#8217;s operations.<\/li>\n\n\n\n<li>Application of IFRS rules, in accordance with regulated local rules.<\/li>\n<\/ol>\n\n\n\n<p>You can discuss more with our&nbsp;<strong>accountant in Croatia&nbsp;<\/strong>and find out about the extra services offered in this case.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"some-of-the-essential-accounting-rules-in-croatia\"><\/span><strong>Some of the essential accounting rules in Croatia<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Our<strong>&nbsp;accounting firm in Croatia&nbsp;<\/strong>can explain to you from the very beginning what are the important accounting rules without which a company could not operate legally in this country. Let&#8217;s review some of these:<\/p>\n\n\n\n<ol>\n<li>The fiscal year begins on January 1 and ends on December 31.<\/li>\n\n\n\n<li><a href=\"https:\/\/www.ifrs.org\/use-around-the-world\/use-of-ifrs-standards-by-jurisdiction\/view-jurisdiction\/croatia\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>IFRS<\/strong><\/a>&nbsp;or International Financial Reporting Standards is the set of accounting rules that have been adopted in Croatia as well.<\/li>\n\n\n\n<li>The accounting rules implemented by the Committee for Financial Reporting Standards in Croatia are also observed.<\/li>\n\n\n\n<li>Balance sheet, cash-flow reports, profit, and loss accounts are among the most important accounting documents held by a company in Croatia.<\/li>\n\n\n\n<li>All financial documents must be kept in the company for at least 11 years.<\/li>\n\n\n\n<li>An independent external audit is required for companies with financial documents exceeding EUR 4.3 million annually.<\/li>\n<\/ol>\n\n\n\n<p>These are some of the most important accounting rules that apply to Croatian companies. Our&nbsp;<strong>accountant in Croatia<\/strong>&nbsp;can easily explain what kind of services your company needs.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"vat-registration-in-croatia\"><\/span><strong>VAT registration in Croatia<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Croatia imposes a 25% VAT on various activities in this country. Therefore, it is essential to register the company to pay this type of tax. Our&nbsp;<strong>accountants in Croatia<\/strong>&nbsp;can offer you the necessary support in this direction so that you can align with the respective requirements. For this, you need to prepare some documents, including those of the company, respectively Articles of Association. In addition, the Certificate of Registration of the company in Croatia, as well as some standard forms that require additional information. The whole process can take about 8 days and it is important to have specialist help in this process, to ensure that you follow all the steps for&nbsp;<strong>registration for VAT in Croatia<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"what-is-the-purpose-of-the-accounting-in-croatia\"><\/span><strong>What is the purpose of the accounting in Croatia?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>With the help of the&nbsp;<strong>accounting&nbsp;<\/strong>systems, all the financial transactions are recorded and then used for varied&nbsp;<strong>accounting and financial reports in the firm<\/strong>. Moreover, certain financial reports are solicited by the tax authorities and other financial institutions in&nbsp;<strong>Croatia<\/strong>. Also, the registration of employees and payroll services are part of the necessary accounting services for a firm. It is important to properly manage the accounting documents of a firm, and consultants in the field are at your disposal as soon as you register a company.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"tax-minimization-for-croatian-companies\"><\/span><strong>Tax minimization for Croatian companies<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Croatian government has recently implemented a set of fiscal measures aimed at reforming the tax system. The incorporation of new&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/croatia-company-types\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>companies<\/strong><\/a>, start-ups, and small entrepreneurship is strongly encouraged through tax incentives. The corporate income tax rate of 12% is applicable under particular conditions, to companies in Croatia. Other measures of&nbsp;<strong>tax minimization for Croatian companies<\/strong>&nbsp;include:<\/p>\n\n\n\n<ul>\n<li>Representation expenses \u2013 50% of their total amount can be deducted;<\/li>\n\n\n\n<li>Personal transportation expenses \u2013 30% can be deducted;<\/li>\n\n\n\n<li>Agreements on interest rates between affiliated companies by using a transfer pricing method or an interest rate prescribed by the Ministry of Finances;<\/li>\n\n\n\n<li>Treaties for the avoidance of double taxation.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"other-tax-minimization-strategies-for-croatian-companies\"><\/span><strong>Other tax minimization strategies for Croatian companies<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Before presenting other<strong>&nbsp;tax minimization tools<\/strong>&nbsp;that might be beneficial for your business in Croatia, we remind you that the general corporate income tax or CIT is set at an 18% rate, one of the lowest in Europe. However, companies with profits not exceeding EUR 988,000 are subject to even a lower CIT, set at a 12% rate, and representing a great tax advantage. However, there are still plenty of tax minimization tools that can be adopted in a&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/open-an-amazon-store-in-croatia\"><strong>Croatian company<\/strong><\/a>&nbsp;in order to cut the amount of taxes. For instance, donations or charities might represent great options for foreign entrepreneurs in Croatia who look for different tax minimization options for their businesses. Another great choice might represent the advanced payment of credit loans because company owners can be exempt from different fees. You can also concentrate on reinvesting the profits in the company and enjoy the tax cuts involved. It is a great idea to create a tax minimization plan, with the support of our<strong>&nbsp;company formation agents in Croatia<\/strong>&nbsp;who have experience in this field. We also remind you that our specialists can handle the&nbsp;<strong>registration process of companies in Croatia<\/strong>, regardless of the field in which you want to activate.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"investing-in-the-company-to-cut-the-taxes\"><\/span><strong>Investing in the company to cut the taxes<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Another great&nbsp;<strong>tax minimization tool&nbsp;<\/strong>accepted and used by company owners in Croatia involves the equipment investment. This means that you can benefit from tax cuts or exemptions if you reinvest a part of the profits in the company. This is often the choice of local and international investors in Croatia who are looking for the proper<strong>&nbsp;tax minimization&nbsp;<\/strong>option for their company.&nbsp; If you would like to know more about this kind of strategy, feel free to talk to one of our&nbsp;<strong>company formation agents in Croatia<\/strong>. Our experts are at your disposal if you want to&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/set-up-doo-ltd-croatia\"><strong>start a business in Croatia<\/strong><\/a>&nbsp;and know more about the tax structure in this country.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"double-tax-treaties-signed-by-croatia\"><\/span><strong>Double tax treaties signed by Croatia<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Besides the great taxation system applicable in Croatia, investors can also benefit from the protection of the&nbsp;<a href=\"https:\/\/www.lawyerscroatia.com\/double-taxation-treaties-croatia\"><strong>double taxation treaties<\/strong><\/a>&nbsp;signed with countries worldwide, to avoid taxation twice on incomes. Such treaties are extremely helpful for foreign companies with establishments and operations in Croatia. Armenia, Belarus, Chile, Bulgaria, Albania, Austria, Bosnia and Herzegovina, Canada, Czech Republic, China, Denmark, Finland, Georgia, France, Estonia, Germany, Hungary, Greece, India, Ireland, Iceland, Indonesia, Italy, Kosovo, Kuwait, Jordan, Latvia, Lithuania, Luxembourg, Malaysia, Macedonia, Mauritius, Malta, Moldova, Morocco, Montenegro, Norway, the Netherlands, Poland, Romania, Spain, Switzerland, Syria, Turkmenistan, Turkey, UK, and Ukraine are a few of the countries that signed double taxation agreements with Croatia and that protect both companies and residents in this state.<\/p>\n\n\n\n<p>We have gathered information, facts, and statistics about the business and the economy in Croatia that you might find it useful when deciding on investments in this country:<\/p>\n\n\n\n<ul>\n<li>for 2021, the FDI inward flow was USD 569 million;<\/li>\n\n\n\n<li>the \u201c<strong>2019 World Doing Business<\/strong>&#8221; report ranks&nbsp;<a href=\"https:\/\/investcroatia.gov.hr\/en\/why-croatia\/\"><strong>Croatia<\/strong><\/a>&nbsp;58th among 190 worldwide economies;<\/li>\n\n\n\n<li>The total FDI stock for 2021 in Croatia was USD 38.89 million;<\/li>\n\n\n\n<li>The sectors that attract the most foreign direct investmentsinclude: financial services, wholesale trade, real estate, and telecommunications;<\/li>\n\n\n\n<li>The leading countries in terms of investments are: the Netherlands, Austria, Italy, and Germany, according to the Croatian National Bank.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"taxable-profits-of-foreign-companies-in-croatia\"><\/span><br><strong>Taxable profits of foreign companies in Croatia<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><br>Every company based in Croatia is subject to the local&nbsp;<a href=\"https:\/\/www.lawyerscroatia.com\/taxation-in-croatia\"><strong>taxation<\/strong><\/a>&nbsp;system. Foreign enterprises must pay company tax on all their profits from Croatia and abroad. Taxable profits of foreign companies in Croatia include the money resulted from investments, doing business and selling assets for more than they cost (chargeable gains).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"why-choose-our-accounting-services-in-croatia\"><\/span><strong>Why choose our accounting services in Croatia?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>It is extremely important to have the accounting matters in mind at the time you decide for a&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/set-up-a-financial-company-in-croatia\"><strong>company in Croatia<\/strong><\/a>&nbsp;as a domestic or international entrepreneur. This is a significant part of the overall business activities for which complete attention is needed, especially as a taxpayer in this country.<\/p>\n\n\n\n<p>An&nbsp;<strong>accounting firm&nbsp;in Croatia&nbsp;<\/strong>will manage all the financial records in the firm in a professional manner and in compliance with the business needs for which complete solutions are provided. Our team can help you maintain a good business direction by offering professional advice in financial documents management. Moreover, bookkeeping services are of high importance for generating a series of accounting documents. The similar thing is available for VAT returns and annual financial statements which are needed in the company and for which our team will act in the best interests of the clients.<\/p>\n\n\n\n<p>No matter the type of company you own in Croatia (limited liability company, joint stock, joint venture or partnerships), it is best to solicit complete accounting services from our team of experts and think of the ways in which you can direct your investments. Also, some tax minimization methods may be excellent options for your&nbsp;<strong>company in Croatia<\/strong>, in order for you to avoid extra taxes and to develop your business in an efficient and smart manner. Having experience as an&nbsp;<strong>accounting firm in Croatia&nbsp;<\/strong>will weigh much in front of entrepreneurs who are looking for professionals in the firm and for persons who can properly and correctly handle all the accounting matters in your company.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"why-invest-in-croatia\"><\/span><strong>Why invest in Croatia<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Croatia is a solid business destination and one of the most popular in the European Union. With an attractive charging system, a young and experienced workforce, and quality infrastructure, Croatia is preferred by foreign investors who want to make a profit in this country. Here are some statistics about Croatia&#8217;s economy:<\/p>\n\n\n\n<ol>\n<li>Croatia had a GDP of USD 68.966 billion in 2021.&nbsp;<\/li>\n\n\n\n<li>The 2021 GDP was 13.1% higher than the previous year.&nbsp;<\/li>\n\n\n\n<li>The unemployment rate is relatively low, approxaimetely 8.68% in 2021.<\/li>\n<\/ol>\n\n\n\n<p>Please&nbsp;<a href=\"https:\/\/www.companyformationcroatia.com\/contact\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>get in touch<\/strong><\/a>&nbsp;with our&nbsp;<strong>accountants in Croatia<\/strong>&nbsp;for personalized offers and prices related to our services.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial services&nbsp;are&nbsp;needed by most companies opened by local or foreign investors and our team of&nbsp;accountants in Croatia&nbsp;is ready to offer professional financial services for different types of legal entities.&nbsp; Taking into consideration the great number of foreign companies establishing branches and subsidiaries in Croatia, it is highly recommendable to be updated with the&nbsp;accounting rules&nbsp;in order [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":674,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[40,37,39,8,38],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Accountants in Croatia - Professional Services<\/title>\n<meta name=\"description\" content=\"We offer accounting and bookkeeping services in Croatia for different types of companies. 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