18:14 / 17.11.2022.

Author: Branko Lozančić

Companies with more than 300 million in revenue will be taxed at 33% on profits of more than 20%

Finance Minister Marko Primorac

Finance Minister Marko Primorac

Foto: HTV / HRT

Finance Minister Marko Primorac presented a draft bill on additional profit tax, which will be paid by companies with revenues in 2022 exceeding HRK 300 million, at a rate of 33%, but only on profits exceeding 20% compared to the four-year average.

“The tax base will be determined in such a way as to calculate the average of the profit that entrepreneurs made in the four-year period before 2022, that is, in 2018, 2019, 2020 and 2021, and 20% will be added to the average of that four-year profit. Everything that is above that will be taxed with additional profit tax at the rate of 33%,” said Minister Marko Primorac at a press conference after today’s Government session.

The draft law will be submitted for public consultation during the day.

Primorac pointed out that the tax is intended to redistribute the profits of taxpayers and that its goal is not to punish entrepreneurs or take away someone's earned income. However, he said that in these difficult circumstances for citizens and entrepreneurs, in which solidarity should come to the fore, and where everyone has to bear the burden of the crisis, it is justified and fair to introduce such a tax, which will tax the largest taxpayers who, despite the difficult circumstances, achieved significant levels of profit.

“The draft law also foresees certain deductions, so if an entrepreneur made income and profit by selling tangible or intangible assets, that part will not be taxed,” said Primorac.

Source: HRT

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