Croatia-U.S. Double Taxation Agreement Could Be Ratified by Year-End

The double taxation agreement between Croatia and the United States could be ratified by the end of this year, U.S. Ambassador to Croatia Nicole McGraw said in Zagreb on Thursday, adding that she sees a bright future for relations between the two countries.

The agreement was signed in December 2022 but has yet to be ratified by the U.S. Senate. Croatia remains the only EU member state without a ratified double taxation agreement with the United States.

“We are working to finally resolve the issue of double taxation. The agreement is currently back before the Senate, and we hope a vote will be scheduled so it can be ratified, hopefully before the end of the year,” McGraw said.

Leadership Summit

The U.S. Embassy in Zagreb is hosting a two-day leadership summit at the Catholic University of Croatia, bringing together American business leaders, Croatian entrepreneurs and innovators to exchange ideas and experiences. The event is part of the Freedom 250 program marking the 250th anniversary of U.S. independence.

“There is no better place to celebrate the 250th anniversary of American independence than Croatia, given that the Republic of Dubrovnik was among the first to recognize the newly established United States,” McGraw said.

“They recognized the importance of trade with this new country. And now, two and a half centuries later, we are here, turning those dreams into reality,” she added.

Held under the theme “Making the Impossible Possible,” the summit focuses on overcoming obstacles, delivering tangible results and strengthening the U.S.-Croatia partnership in innovation and economic development.

Capital and Connections

Asked what Croatian entrepreneurs need to build truly global companies, McGraw pointed to access to capital, saying the United States is an important partner in that area.

She also highlighted an upcoming event at which American businesswomen will hear pitches from six Croatian startups and select a winner to receive mentoring.

“Building direct connections between people is what will empower the next generation of entrepreneurs,” McGraw said.

McGraw said the two countries, despite being on opposite sides of the Atlantic, are experiencing a “golden age” in their relationship that should be nurtured.

“We are seeing growing trade volumes and more business opportunities than ever before. There is also great potential in areas such as technology and energy,” she said.

In tourism, McGraw said there was still significant potential for the development of golf courses that could attract more visitors from around the world and encourage them to explore Croatia and its diverse regions.

Challenges Are Part of the Plan

Joe De Sena, an American entrepreneur who often highlights his journey from cleaning swimming pools to working on Wall Street, said that in the age of artificial intelligence, knowledge is widely available, but character and perseverance are what set people apart.

“You have to commit to an idea and draw excitement from it. And even when that excitement fades and people begin to doubt you, you have to be willing to wait for the delayed reward,” he said, arguing that the reward is ultimately greater and more lasting after periods of adversity.

“Embrace challenges rather than hoping they won’t come,” he told the Croatian audience.

American pilot Jessica Cox, the world’s first licensed armless pilot, also delivered a talk entitled “Obstacle as Opportunity.” Speaking about entrepreneurship, she said the question is not whether something can be achieved, but how to achieve it.

Born without arms, Cox told the audience that “we can all live without what we have now, no matter how unimaginable that may seem.”

As a child, Cox learned to put on her shoes without using her arms. She uses the phrase “thinking outside the shoe” to describe her approach to life, explaining that she first had to learn to tie her shoelaces before figuring out how to put her foot into the shoe.

Today, the pilot, athlete and motivational speaker is proud of what she has accomplished and says she never allowed her disability to make her feel less capable.

“Americans are proud as a people, which is something they have in common with Croatians,” McGraw said.

“Both nations are proud of their country and identity, and we look forward to strengthening the ties between our people.”

“We will work on all of these areas and make sure that by the time I leave, our relationship is stronger than ever,” the U.S. ambassador to Croatia said.