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Accounting in Croatia

Updated on Tuesday 19th February 2019

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NameCroatia joined the European Union in 2013 and its economy managed to recover from the financial crisis that affected the continent. This led to an influx of foreign investments in the local market and many international companies which established branches in Croatia. There are over 15,000 foreign companies operating in Croatia, especially in banking, telecom, and tourism sector.
The Croatian government has committed to increase foreign investments in the country and has taken measures to reduce taxes and promote employment incentives. Taking into consideration the great number of foreign companies establishing branches and subsidiaries in Croatia, it is highly recommendable to be updated with the accounting rules in order to run correctly a business in this country. The Commercial Code imposes certain accounting standards to Croatian companies. They also have to submit annual balance sheets and other accounting documentation with the Trade Register. Our company formation agents in Croatia can give you complete information about the accounting procedures in this country.


Accounting services available in Croatia


Our representatives in Croatia provide a large range of accounting services among which:
 
 
  • •    Maintaining accounts for a Croatian company;
  • •    Payroll administration;
  • •    Filling of accounts with the Tax Authorities in Croatia;
  • •    VAT registration and VAT filings in Croatia;
  • •    Reviewing financial accounts;
  • •    Tax minimization solutions.

Our accountants in Croatia deliver personalized services in compliance with your company's needs and the legal provisions of the Company Act.


Bookkeeping services in Croatia


Accounting and bookkeeping are important parts of the daily management of a Croatian company. The services of an accounting firm are required because the International Financial Report Standards (IFRS) are mandatory for large companies and those listed on the local stock exchange. All other Croatian companies have to report to the Croatian Committee for Financial Reporting Standards, the main accounting regulation body in the country. The accounting reports submitted with this institution must contain:
 
  • - a balance sheet,
  • - a cash-flow report,
  • - a profit and loss account,
  • - a review of the changes involving the authorized capital,
  • - comments and annexes.
 
Other important financial documents that Croatian companies must handle are payrolls and human resources management. Outsourcing companies are usually hired for managing payrolls and accounting reports for Croatian companies. Appointing independent auditors to monitor and verify their financial records is another obligation for Croatian companies. Our experts in company formation in Croatia can provide a wide range of audit and accounting services for each type of company.
 

Personalized accounting services for your company in Croatia

 
If you think of hiring the services of an accounting firm in Croatia instead of creating such a department, it is good to know that additional services can be provided, such as:
 
  • specific financial reports about foreign bank credits with the help of the National Bank in Croatia;
  • assistance at the time an audit is performed in the company;
  • support in the case of payments in different currencies;
  • preparation of quarterly financial reports in compliance with the applicable laws.
 
We remind that our team of accountants in Croatia have a wide experience in this field and they work in respect with the Croatian Financial Reporting Standards, the Accounting Act and the international laws.
 

What types of financial reports must be filed in Croatia?

 
An accounting firm in Croatia handles a series of reports like the balance sheet, the cash flow report, the profit and loss account, plus the annual financial reports as needed in every company. All the reports reveal significant information about the financial status of the firm, the economic outcomes and a complete image about the ways the company is managed. All the financial reports are imposed for all legal entities with establishments in Croatia, domestic or foreign.
 

Bookkeeping documents – What you need to know

 
The internal bookkeeping documents like payment slips, traveling orders, outgoing invoices, payment orders, and payroll are the type documents created in the firm. There are also external bookkeeping documents like supplier invoices, entry notifications or other statements which need to be registered in the company. Bookkeeping is extremely important for a company, and an accounting firm is definitely required for small, medium and large companies in Croatia.
 

What is the accounting process for a company in Croatia?

 
All the business activities are recorded with the help of bookkeeping, taking into account varied items like payroll accounts, material expenditures, trade receivables, sales contracts, inventory process, trial balance, financial reports, journals keeping the business activities entries, a general ledger that records the business performance and any financial status change.
 

What is the purpose of the accounting services in Croatia?

 
With the help of the accounting systems, all the financial transactions are recorded, and then used for varied accounting and financial reports in the firm. Moreover, certain financial reports are solicited by the tax authorities and other financial institutions in Croatia. Also, the registration of employees and payroll services are part of the necessary accounting services for a firm. It is important to properly manage the accounting documents of a firm, and consultants in the field are at your disposal as soon as you register a company.
 

Why choose our accounting services in Croatia?

 
It is extremely important to have the accounting matters in mind at the time you decide for a company in Croatia as a domestic or international entrepreneur. This is a significant part of the overall business activities for which complete attention is needed, especially as a taxpayer in this country. An accounting firm will manage all the financial records in the firm in a professional manner and in compliance with the business needs for which complete solutions are provided. Our team can help you maintain a good business direction by offering professional advice in financial documents management. Moreover, bookkeeping services are of high importance for generating a series of accounting documents. The similar thing is available for VAT returns and annual financial statements which are needed in the company and for which our team will act in the best interests of the clients. No matter the type of company you own in Croatia (limited liability company, joint stock, joint venture or partnerships), it is best to solicit complete accounting services from our team of experts and think of the ways in which you can direct your investments. Also, some tax minimization methods may be excellent options for your company in Croatia, in order for you to avoid extra taxes and to develop your business in an efficient and smart manner. Having experience as an accounting firm in Croatia will weigh much in front of entrepreneurs who are looking for professionals in the firm and for persons who can properly and correctly handle all the accounting matters in your company. Please feel free to get in touch with our accounting firm in Croatia and address your inquiries in matters of accounting and many more.

Please get in touch with us for personalized offers and prices.
 

Meet us in Zagreb

Call us now at +385 95 9981 628 to set up an appointment with our consultants in Zagreb, Croatia. Alternatively you can incorporate your company without traveling to Croatia.

As a Law Firm Ivan Župan client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Croatia.

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Testimonials

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The team from CompanyFormationCroatia.com is very qualified and benefits from extensive expertise in this area. I would definitely recommend them to any entrepreneur decided to start his own business here.

Mihai Cuc, Partner of
Enescu&Cuc; Law Firm
www.romanianlawoffice.com

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