Government to Amend General Tax Act 

 

Hina29 August 2016, VG Intelligence Weekly Issue 19

The Ministry of Finance opened a public consultation procedure to discuss amendments to the General Tax Act. The aim is to harmonize the existing Croatian legislation with Council Directives (EU) 2015/2376 and 2016/881. Both directives regulate the mandatory automatic exchange of taxation data. By extending the automatic exchange of information, the transparency of multinational company taxation will be increased, and aggressive tax planning and harmful tax competition will be reduced. The Council Directive (EU) 2015/2376 introduces specific and detailed rules on how to perform the exchange of information. Member States will be required to report to the European Commission (EC) an annual assessment of the effectiveness of the automatic exchange of information, as well as the practical results achieved…

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