Managing tax and statutory compliance in today’s highly complex economic and regulatory environment is no easy task.

Recent developments in tax law and practice, particularly in value added tax and personal income tax legislation, as well as new developments in accounting standards, companies law, labour law and other regulations increase the risk of occurrence of oversight, misinterpretation, inappropriate application and error. More...

The Croatian Government introduced yet another set of Amendments to the Foreign Currency Law on 17 December 2009. Certain provisions of the Croatian Foreign Currency Law have been amended such that the announced liberalisation of foreign transactions has once again been postponed.

The Amendments were announced in the National Gazette, edition 153/09, and entered into force on 31 December 2009.¸More...

Following the amendments of the VAT Law, effective as of 1 January 2010, the VAT Regulations have been published in the National Gazette 149/09 dated 15 December 2009. The VAT Regulations have prescribed detailed guidance, and we summarise key issues on the following link: Tax Alert No 5 (Porezne novosti broj 5).

On 4 December 2009, the Croatian Parliament enacted a new Labour Law (National Gazette 149/09).

The new Labour Law brings some important changes, which include inter alia the following:

· Exemption of registered management members, executive directors and other management who in accordance with the law are authorised to independently or jointly represent the company, from the provisions of the Labour Law regulating termination of employment relationship, meaning that those rights and obligations should be regulated internally by the parties;

More...

KPMG International’s 2009 Corporate and Indirect Tax Rate Survey illustrates a milestone in global tax policy, as governments – driven by the need for more revenue – are implementing proactive measures to increase the tax take from both indirect taxes and the tax base for corporate income taxes.

KPMG’s report on key transfer pricing issues as the world emerges from recession can help tax departments appreciate the longer-term and global perspective necessary to achieving results today and exploiting change beyond the current climate for enduring benefit. A collection of articles from leading transfer pricing professionals at KPMG member firms, the report highlights the need to take a careful look at the guidance from tax authorities, as well as current practices, in order to redraw transfer pricing policies in the new and different economic environment.