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New Accounting Law

2015-09

New Accounting Act was enacted in July 2015, but most of its provisions will come into force on 1 January 2016. We highlight the following novelties here:

  • the legal system of the Republic of Croatia implements EU directives relating to the annual financial statements, consolidated financial statements and related reports for certain types of companies,
  • introducing mandatory licensing for performing accounting services and functions,
  • introducing a category of micro entrepreneurs (in addition to the small, medium and large entrepreneurs), 
  • introducing definition of the accounting document: contents, preparing, checking of the correctness and keeping,
  • keeping/storing of accounting documents / business books outside Croatia is allowed (however, only in another EU country).

Authors

Picture of Dragan Tripalo
Dragan Tripalo
Consultant
Zagreb