Croatia Gazettes Law Amending Income Tax Act

The Croatian Official Gazette Dec. 24 published Law No. 2505, amending the Income Tax Act. The law includes measures: 1) aligning the allocation of income tax on rental and lease income from real estate with the income tax on other specified property rentals; 2) increasing the basic personal deduction to 600 euros (US$624) from 560 euros (US$583); 3) increasing the monthly tax base to 5,000 euros (US$5,202) from 4,200 euros (US$4,369) and the annual tax base to 60,000 euros (US$62,359) from 50,400 euros (US$52,380); 4) providing a five year tax exemption on income from self-employment, for resident individuals who have ...