Croatia Initiates Procedure to Conclude Double Taxation Convention with USA

Total Croatia News

Pixabay
Double taxation convention
Double taxation convention

ZAGREB, Sept 30, 2020 – The Andrej Plenkovic government on Wednesday launched procedures to conclude the double taxation convention between Croatia and the USA for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.

Finance Minister Zdravko Maric told the press before the government’s meeting that the conclusion of the Convention would lead to many benefits in the taxation of all kinds of income and to the improvement of conditions for boosting bilateral trade.

“This is a great signal for investors. We are tackling the matter that has been present for more than two and a half decades,” the Croatian minister said.

In October, the country’s Tax Administration will open preliminary talks on holding negotiations on the document.

The convention will be beneficial to all industrial sectors, notably the IT sector.

Companies’ income will be taxed in their countries of residence, the draft convention reads.

It will enable Croatian air and shipping companies that transport goods between the two countries to pay profit tax in Croatia only.

Croatian builders operating in the USA for less than 12 months will not pay taxes in the USA.

The convention regulates the taxation of income from real property, income, and salaries of athletes, artists, and so on.

For the latest travel info, bookmark our main travel info article, which is updated daily

Read the Croatian Travel Update in your language – now available in 24 languages

Join the Total Croatia Travel INFO Viber community.

 

Subscribe to our newsletter

the fields marked with * are required
Email: *
First name:
Last name:
Gender: Male Female
Country:
Birthday:
Please don't insert text in the box below!

Leave a Comment