- Croatia has implemented amendments to its direct and indirect tax laws, effective from 1 January 2024.
- One of the changes allows taxpayers to reduce their output value added tax (VAT) liability for uncollected receivables.
- This reduction can be applied when more than one year has passed since the receivable due date and certain conditions are met.
- These conditions include suing the debtors or initiating enforcement procedures and informing the tax authority of the corrections made.
- The aim of this amendment is to provide relief to taxpayers who are unable to fully or partially collect their receivables.
- It is expected to help alleviate the financial burden on businesses and individuals in Croatia.
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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