State-Owned Companies Required to Pay 60% of Profit for 2019 into State Budget

ZAGREB, July 30, 2020 – The government on Thursday required state-owned companies to pay 60 percent of their after-tax profits for 2019 into the state budget based on the state share in their equity.

The decision applies to 15 companies, including marina chain operator ACI, power provider HEP, Croatian Lottery, the Hrvatske Sume forest management company, the INA oil company and oil pipeline operator Janaf.

The arms dealing agency Agencija Alan will have to pay 100% of profit into the budget which will be used for the modernisation and activities of the Croatian armed forces. Under the law on games of chance, Croatian Lottery is also required to pay all its profit from 2019 to the state budget.

 AKD, an IT company specialising in the manufacturing of ID cards, passports and driving licenses, will have to pay 60% of its profit into the state budget which will be used to improve the material status of police officers.

 

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