Croatia’s Tax Administration and Ministry of Finance have created a new financial project with the goals of modernizing the financial system, enabling VAT integration, maintaining e-Archives, online records of VAT, and paying cashless payments via e-Invoice. The project is anticipated to be completed in 2024, per the project’s implementation plan. These are a few of the programs that will be put into practice as part of this project:
- Creation of an account for the declaration of non-cash accounts issued by state organizations to the tax office and the financialization of accounts set up for the execution of B2G transactions;
- To pay cashless via an electronic account in the accounts where B2B transactions are done, maintain an active VAT system ledger record, and create an integrated e-archive;
- Developing a no-cost application for small taxpayers to issue e-Invoices.
The benefits of implementing this new initiative include streamlined tax returns, open business and payment processes, credit checks, and the conversion of paper records to digital records.
Effective date: 2024