Croatia Announce Reduction to Standard VAT Rate
Croatian Finance Minister, Zdravko Maric, has confirmed as of 1st January 2020 Croatia will reduce their standard VAT rate from 25% to 24%.
In another significant move, the hospitality sector will enjoy a reduction from 25% to 13%. Proven successful in other EU member states, the reduction in VAT is aimed at boosting the tourism industry in Croatia, with a key focus on easing ongoing pressures on the food and drink sector related to hospitality and tourism.
The reduction is expected to reduce the tax burden by approximately €500 million.
Speak to VATGlobal directly for more information on how this will impact your business activities.