- Ordinance No. 7 has been published in the Croatian Official Gazette, amending VAT rules.
- The ordinance includes several measures to change VAT regulations.
- The threshold for VAT-exempt gifts has been increased from 21 euros to 22 euros.
- Tax base reductions are now allowed for discounts, revocations, and inability to collect overdue receivables.
- The VAT exemption threshold for specific deliveries of goods by passengers from the EU has been increased from 98 euros to 100 euros.
- The threshold to qualify for quarterly reporting has been raised to 110,000 euros.
- The threshold for VAT registration has been increased to 40,000 euros.
- Input tax deductions are now allowed for advances paid with invoices.
- Procedures for correcting errors in VAT invoices have been added.
- The law is effective from January 3rd.
Source: news.bloombergtax.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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