Tax Authority`s opinion – possibility of receipt payment to Revolut Bank UAB and Revolut Payments UAB accounts
The Tax Authority issued an official opinion in which it again observed the possibility of paying salaries to giro accounts of clients who have opened accounts with the credit institution Revolut Bank UAB and the electronic money institution Revolut Payments UAB.
Namely, the Tax Authority states in the opinion that the Personal Income Tax Act stipulates that receipt payers make payments of taxable and non-taxable receipts to individuals to their giro account with the bank, and exceptionally to their current account in accordance with special regulations and in cash in the prescribed manner.
In a previous Tax Authorhies’ official opinion regarding the salary payment, it was clarified that Revolut Payments UAB is an electronic money institution and as such is considered a special payment service provider whose establishment and operation is regulated by the Electronic Money Act. Furthermore, it was concluded that the payment of the employee's salary to the account of the digital institution for electronic money, in this case Revolut Payments UAB, is not considered a payment to the bank account in accordance with the previously mentioned provisions.
Moreover, regarding Revolut Bank UAB, the Tax Authority requested an instruction from the Croatian National Bank which clarified that Revolut Bank UAB is considered a credit institution that is limited to providing services of deposits collection and other services while it should not open and manage payment accounts such as current account or giro account. Thus, the payment of receipts from employment (salary) to the accounts of Revolut Bank UAB is also not possible.
Amendments to the Fiscalisation Rulebook
The Ministry of Finance recently presented draft amendments to the Fiscalisation Rulebook via the online platform E-savjetovanje.
Amendments to the Rulebook relate to addition of certain amendments related to the process of changing data and correcting irregularities of issued invoices.
Draft amendments of the Fiscalisaction Rulebook can be found on platform E-savjetovanje.
Interest rate on loans between related parties
The new Decision on the interest rates on loans between related parties was adopted for 2022 and it defines that such interest rate should amount to 2,68% which represents a decrease compared to the previous year, when it amounted 3%.
Details on the Croatian Employment Service’s aid for job preservation November and December 2021
The Governing Board of the Croatian Employment Service (“CES”) on their recent meeting has issued decision on the update of the aid for the job preservation in activities of reduced economic activity for November 2021 and introduction of the new aid for the job preservation in activities of reduced economic activity for December 2021.
More information on the measure itself can be found on the official CES website.