Budget Payments Decision for State-Owned Companies in 2016

skdd5 September 2016, VG Intelligence Weekly Issue 20

During a telephone government cabinet session, held on 29 August, the government decided to amend the Budget Payments Decision for State-Owned Companies of Special Interest for 2016. Namely, in May 2016, the government obliged state-owned companies to directly pay into the state budget a portion of their 2015 profits, after the taxation. The companies are obliged to pay 60% of last year’s net profit, with the exception of the Agency Alan, Ltd. (company authorised for activities related to armament and military equipment), which is obliged to pay into the budget the entire profit intended for the Armed Forces modernisation. However, the May decision excluded some companies, including the Croatian Roads Authority (HC), Croatian Motorways Authority (HAC), Plinacro, Croatia Control, and the Dubrovnik Airport. The newest amendments included the Central Depository and Clearing Company (SKDD), Inc. (the company serving as a central securities depository in Croatia) on the list of the companies exempt from the payment obligation, in order for the SKDD to be able to fully implement the EU Regulation 909/2014 on settlements and central securities depositories…

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