Business Consulting
Poslovno savjetovanje podrazumijeva razvoj strategije i optimizaciju poslovanja čiji je rezultat poboljšani učinak i efikasnost poduzeća. UHY poslovni savjetnici su specijalisti za financije, a svoje iskustvo temelje u dugogodišnjem uspješnom radu i rezultatima malih i srednjih poduzeća.
12+
Business Consultants
46+
Employed professionals
300+
Clients asking for our advice per yeaer
8900+
UHY experts in 100 countries around the world
- Establishment and registration of companies and foreign subsidiaries
- Valuation of companies
- Business diagnostics
- Business idea checks (financial and tax checks and consulting)
- Financial restructuring
- Pre-Feasibility Design, Feasibility Study, CBA Analysis
- Development of plans for the overall development of LSG
- JLS Asset Management Strategy
Establishment and registration of companies and foreign subsidiaries
The procedure for establishing a company or a subsidiary in Croatia is precisely the same for foreign citizens, as well as for citizens residing in Croatia, with the fact that foreign citizens, in most cases, request the services of local experts to avoid linguistic misunderstandings and administration traps.
Procedure for opening a company in Croatia for foreign citizens:
- Collect legal documents for the establishment of a company from the Commercial Court and the State Institute of Statistics
- Check if the selected company name is free (https://sudreg.pravosudje.hr/)
- Specify the address where the new company will be registered
- Preparation of documentation by the Public notary
- Payment of the initial capital (minimum amount for a simple limited liability company is HRK 10,00 and for a limited liability company is HRK 20.000,00)
- Select a bank and open a business account
- Choose an accountant to run the business books of the company
- Request a company’s OIB
- Apply for VAT number, VAT ID number and EORI number for the company
- If a foreign citizen wants to be employed in their company, a work permit is required for foreign citizens (MUP).
Valuation of companies
Want to find out how much your business is worth? UHY experts prepared valuation of companies to interested parties because they are important for:
- investors – due to the recapitalization of the company
- to a company seller – when selling a stake in a company or paying off one of its partners
- in the inheritance of enterprises – in the division of assets
- to the owner – because he is interested in the value of the business he has created.
Valuation of an enterprise represents the range of values of a particular enterprise. The base of any valuation should be proper due diligence, credible documents, interviews, and test plans- all of which our expert UHY team can offer you.
There are three basic methods for business valuation:
- discounted cash flow method (“DCF method”), dynamic- because it is based on future cash flows
- the Multiples method, where similar companies are compared
- static Asset-Based Approach method, the present value of the asset is taken into account.
Valuing a company (defining a fair price), is the most complex service that requires specific knowledge and the use of particular methods. UHY experts are experienced in valuing your business, they understand your business, and will choose a combination of the best ways for calculating your company value.
Business diagnostics
Business diagnostics involves reviewing historical financial statements, company documentation, and discussions with employees to identify potential business difficulties and propose restructuring measures.
Diagnostics can also be an overview of the profitability of a particular product/service within the company, individual sales markets, profit centers, employees, and similar.
Business idea checks (financial and tax checks and consulting)
Why do only some ideas become suitable investments, and most end up as a complete failure?
Before embarking on an entrepreneurial venture, good advice is to make sure your idea can also become an excellent business opportunity.
What discerns an idea from an excellent business opportunity?
An excellent business opportunity should meet the following parameters:
- a market that is big enough
- strong growth
- a large profit margin
- strong and positive cash flow
- continuous income, small assets, working capital
- great profit potential
- attractive rates of return for investors.
Financial restructuring
Financial restructuring is carried out in case of financial difficulties of the company, but also to increase the solvency of the company or avoid higher tax levies.
When difficulties arise, the most important thing is to act quickly to avoid the worst-case scenario – bankruptcy of the company.
What does that mean? Reduce costs and increase net profitability.
The process of financial restructuring can be summarized in these few steps:
- business valuation, or analysis of all financial statements, to understand what are the fundamental causes of business liquidity
- cost-cutting, in terms of employee layoffs
- the elimination of less important external services, optimization of other costs, the settlement of customers and suppliers, but also the sale of unnecessary short-term inventories as well as non-operating assets.
- The last step is to restructure the balance sheet, ie, optimize costs and look for new sources to refinance the business.
Posljednji korak je ostavljen za restrukturiranje bilance, odnosno optimizaciju troškova i traženje novih izvora za refinanciranje poslovanja.
Pre-Feasibility Design, Feasibility Study, CBA Analysis
For Croatia to make the most of the available financial support from EU funds, complex bidding documents need to be prepared, ie, each major project needs to prove its justification through a compulsory feasibility study and a cost-benefit analysis – CBA.
How is the cost-effectiveness of an EU-funded project defined?
The primary task of EU projects is to bring benefits to the community, so those are mainly projects such as building hospitals, roads, schools, landfills. This group also includes larger private enterprise projects that can bring long-term benefits to the broader community.
Creating a feasibility study with cost-benefit analysis is a complex task, performed by external consultants with relevant expertise and references for project applicants.
Development of plans for the overall development of LSG
The Total Development Program (PUR) is a primary strategic document of municipalities and cities, drafted for planning, implementing, and controlling the execution of development projects.
It is also a basic document in applying for EU funds and attracting foreign investors, as it addresses all strategic plans of the public, civil and private sectors, aligned with the strategic guidelines for the development of the county and the state.
Consultants, representatives of the local government, the private sector, and non-governmental organizations are involved in the preparation of the documents. Their common task is to analyze the current situation, define projects with a focus on priorities, set goals, and list all available sources of funding.
UHY experts have years of experience in developing a dozen Projects for the overall development of specific municipalities and cities in the Republic of Croatia.
JLS Asset Management Strategy
Ulaskom u Europsku uniju (EU), hrvatske općine i gradovi imaju mogućnost povlačenja bespovratnih sredstava iz EU, a temelj za apliciranje na natječaje su strategije razvoja i slični strateški planovi razvoja jedinica lokalne samouprave (JLS).
Strateški planovi razvoja općina i gradova su ključni dokumenti, koji prikazuju smjer razvoja određenog područja, u smislu dugoročnog i održivog upravljanja imovinom, ali i rješavanja gorućih pitanja, kao što su natalitet, nezaposlenost, infrastrukturna pitanja itd.
Ciljevi i prioriteti postavljeni u strategiji razvoja trebaju biti usklađeni s programskim ciljevima smjernica EU postavljenim za programsko razdoblje 2014-2020.
UHY stručnjaci sudjelovali su u izradi desetak strateških dokumenata za hrvatske općine, koje su izradom jedinstvenog strateškog dokumenta definirali svoj budući opstanak i razvoj, te postavili temelje za buduća ulaganja.
Priprema projekta za natječaje za EU natječaje za poduzetnike
U cilju smanjenja značajnih gospodarskih i socijalnih razlika svojih članica, ali i povećanja konkurentnosti europskog gospodarstva, EU je, u okviru provođenja kohezijske politike (tzv.politike solidarnosti), osigurala sredstva za manje razvijene članice, među kojima je i Hrvatska.
Operativni program Konkurentnost i kohezija 2014.- 2020. je temeljni programski dokument kojim je Hrvatskoj osigurano 6,8 milijardi eura za rast i razvoj radnih mjesta kroz ulaganja u infrastrukturu te razvoj poduzetništva i istraživačkih djelatnosti.
UHY stručnjaci s više od 40 uspješno pripremljenih projekata mogu pomoći poduzetnicima kod:
razrade poduzetničke ideje
prikupljanja i sortiranja natječajne dokumentacije
strukturne i jezične prilagodbe dokumentacije za EU fondove.
Everything a successful business needs
More than 400 domestic and foreign entrepreneurs entrusted us with their business books, which saved them time and money. Behind our signature are knowledge, continuous education and results. Do you always want to know the true state of your finances?
We monitor changes in tax laws and regulations every day, and based on our advice, entrepreneurs make faster and more professional business decisions and enter into investments. Ask for tax advice that will reduce your tax costs.
UHY experts drew up more than 150 projects that got almost one billion kuna of funds approved.
UHY experts participated in the implementation of more than 60 projects with a high success rate of 97.3%.
More than 4,300 participants attended lectures on accounting, auditing, business and tax consulting, and EU funds. We teach using examples from Croatian practice. Check which educations lead to business success.
Tax consulting
Tax Consulting allows the client to manage tax risks and costs, which is one of the key prerequisites for the survival and performance of the company’s business.
To make it easier for customers to navigate a big number of tax regulations, UHY tax experts continuously monitor changes, amendments, as well as interpretations of a number of tax laws and regulations that relate to the business of the client. You can use our extensive knowledge to reduce tax liabilities in legal terms and to make tax savings in regular business and investment.
If you do business around the world, our UHY network of tax experts will allow you to focus on business and market conquest, and leave tax issues to us.
3
Certified Tax Consultants employed
308+
UHY offices in 100 countries around the world
8200
UHY tax/accounting experts in 100 countries around the world
Tax consulting
Are you paying too much taxes? The answer to this question can be provided by UHY tax experts who will analyze your company’s tax costs and advise you on how to maximise tax savings, reduce tax liability within the legal frameworks, and plan future tax liabilities.
UHY Tax Consultants are of significant assistance to entrepreneurs when navigating through numerous local and international tax regulations.
The most common areas of Tax Consulting:
- Value Added Tax
- Corporate Income Tax
- Personal Income Tax
- Other regulations related to tax issues
You can engage a tax consultant on a one-time basis for tax queries, interpretation of tax law provisions, tax administration supervision, preparation of tax reports, etc.
The tax consultants are obligated to keep everything the client had entrusted to them about his business and what he learned from the business documentation as a business secret.
Tax planning
You are planning a new entrepreneurial investment, but you cannot estimate tax obligations, or how much expenses and taxes you should put into your business plan?
Croatia is a country with a high tax burden, and the interpretations of tax laws can often be contradictory, which can create difficulties for entrepreneurs, but also jeopardise the entire investment.
In the process of development of companies and investments, entrepreneurs often have the following questions:
- How much tax should I expect at the investment stage?
- What are the tax rates in individual countries and how are they calculated?
- What are the restrictions on dividend payments and profit shares?
- Is withholding tax paid on dividend payments and profit share?
- What is the regulation on transfer pricing?
- Are there tax incentives for your investment?
UHY Tax Consultants will introduce you to tax exemptions, but also how to solve potential problems you may encounter in the investment process, whether you invest in Croatia or anywhere in the world. Our global UHY tax experts are always at your disposal.
Tax due diligence
Before making a strategic decision to purchase or sell shares, investors must know the real situation of the company, which is why they order the service of due diligence of financial statements, focusing on the tax aspect of the business.
During the process of due diligence, tax liabilities of the company, i.e. income tax, personal income tax, withholding tax, VAT, transfer prices…-everything that is crucial for investors to assess the sustainability of the planned investment, is deeply analysed.
Client representation in tax procedures
The biggest stress for the average Croatian businessman is probably the realization that the ” tax officers are coming for inspection “, especially because of the conviction that tax collectors will always find some kind of a violation that means new costs. The tax administration can sometimes have far-reaching consequences for the entire company, depending on the size and importance of the eventual infringement.
One of the causes of violations is the lack of knowledge of tax laws by the client and the widespread interpretation of the tax administration, which is the reason why many employers receive sanctions and fines.
After the Tax administration presents all the shortcomings in the audit log, the taxpayer has the right to object. The objection can be independently drawn up in prescribed form and accompanied by convincing documentation.
If a licensed tax advisor participates in the drafting of the complaint and appeal, you have a much greater chance that the appeal will be successful, or that the penalties imposed or additional taxes will be reduced.
Our Tax Consultants have great experience and success in writing complaints and objections on tax reports and rulings.
Entrepreneurs who want to be ready for tax control can request “preventive supervision” before the tax administration inspection.
What does this service entail?
In this case, our tax experts prepare the company for inspection by checking the documentation and asking questions to be asked by the tax administration in case of an inspection. After establishing what the situation is, they provide solutions to correct the incorrect tax calculations.
Everything a successful business needs
More than 400 domestic and foreign entrepreneurs entrusted us with their business books, which saved them time and money. Behind our signature are knowledge, continuous education and results. Do you always want to know the true state of your finances?
We monitor changes in tax laws and regulations every day, and based on our advice, entrepreneurs make faster and more professional business decisions and enter into investments. Ask for tax advice that will reduce your tax costs.
UHY experts drew up more than 150 projects that got almost one billion kuna of funds approved.
UHY experts participated in the implementation of more than 60 projects with a high success rate of 97.3%.
More than 4,300 participants attended lectures on accounting, auditing, business and tax consulting, and EU funds. We teach using examples from Croatian practice. Check which educations lead to business success.
Implementation of EU projects
Implementation of EU projects is the most important part of the entire process because all activities and procedures from the project, after signing the contract, should be aligned with the prescribed directives and laws. UHY experts participated in the implementation of more than 60 EU projects with 97,3 % success.
12
EU funds experts
62
Implemented EU projects
97
Percent success rate
377350000
Total value of projects in kuna (jn millions)
Consulting support in the implementation of EU projects
Participants in tenders believe the deal is done when they sign the grant agreement, but the truth is, the real project story is just beginning at that point. Why is it just beginning? The implementation of the project is the biggest job, because you need to justify the allocated funds.
The implementation of EU projects is our core business that we have been dealing with since the period of EU pre-accession funds.
Our client list includes cities and municipalities, institutions, small and medium-sized enterprises, large entrepreneurs, civil society organizations and family farms, but our biggest reference is 97,3 % success rate of the approval of the funds during implementation phase. We have provided our clients with the following services for project implementation:
- Safe conduct through planning and organising project activities
- Financial flow monitoring
- Archiving of documentation
- Preparation of the report using all tools from the industry in order to minimise the risks that may compromise the project
- Advisory support (assistance in official correspondence with the enforcement authorities responsible for monitoring the project)
Public procurement consulting
First time in public procurement? This is an extremely complex process of purchasing goods and services, with a high risk of reimbursement, as the EU wants to be sure that the money is spent in an efficient and transparent manner. You can reduce this risk through the engagement of professional external contributors, who can help you with:
- Preparation of the procurement plan for acquisition jobs, equipment and services for the project
- Analysis of the estimated acquisition value and amending the budget
- Verification of the administrative compliance of the technical specifications/job descriptions
- Drafting of tender documents
- Explanation of the conditions of implementation and acquisition and forming the Evaluation Committee
- Consultation of the Evaluation Committee, the public opening of tenders and the drafting of a report from the Evaluation Committee
- Monitoring and consultation related to the implementation of the procurement contract
Everything a successful business needs
More than 400 domestic and foreign entrepreneurs entrusted us with their business books, which saved them time and money. Behind our signature are knowledge, continuous education and results. Do you always want to know the true state of your finances?
We monitor changes in tax laws and regulations every day, and based on our advice, entrepreneurs make faster and more professional business decisions and enter into investments. Ask for tax advice that will reduce your tax costs.
UHY consultants participate in the creation of business plans and investment studies, based on which entrepreneurs manage their investments more efficiently and profitably. Find out how to do business more efficiently.
UHY experts drew up more than 150 projects that got almost one billion kuna of funds approved.
More than 4,300 participants attended lectures on accounting, auditing, business and tax consulting, and EU funds. We teach using examples from Croatian practice. Check which educations lead to business success.
Drawing up EU projects
Grants from EU funds are equally tempting to public users, as well as to entrepreneurs, but drafting a project itself is a complex and demanding process that implies analytical consulting, drafting of a project proposal with a business plan and applying for funding.
UHY experts drew up more than 150 projects that got almost one billion kuna of funds approved.
12
EU project consultants
97
Success rate of drawing up EU projects
154+
Total number of EU funded projects
925
Million kunas of totally approved EU funds
- Drawing up projects for tenders from the rural development program
- Drawing up projects for tenders from the European Social Fund
- Drawing up projects for EU tenders for entrepreneurs
- Drawing up projects for EU tenders for public users
Drawing up projects for tenders from the rural development program
Almost half of the total population in Croatia lives in municipalities and villages with less than 10,000 inhabitants. The Rural development programme RH 2014-2020 can advance living and working conditions for this population.
The total value of this programme is 2.4 billion euros, but it is important to know that the preparation process is demanding and implies knowledge of terminology, as well as the ability to form a project idea that will be positively assessed and approved for funding.
Drawing up the project for the Rural development programme tenders includes:
- The process of developing an idea
- Preparation of supporting documentation
- Preparation of the project proposal and the application itself
- Support in preparation of Applications for Aid
UHY experts for EU funds have experience in preparation and implementation of more than 40 projects from rural development.
Drawing up projects for tenders from the European Social Fund
Cities, municipalities and the civil sector have the possibility to finance employment, learning and social inclusion in their field through tenders form the European Social Fund until 2020.
The Operational Programme Efficient Human Resources has ensured a total of 1.5 billion euros that are intended solely for:
- Employment and labour mobility
- Social Inclusion
- Education and lifelong learning
- Good governance
During the preparation of the project, individual approach is extremely important as each project idea should be elaborated thoroughly from the original idea to a quality and sustainable project proposal that will be successfully judged by the evaluators.
Our portfolio includes more than 25 drawn up and implemented projects that have been funded by the European Social Fund.
Drawing up projects for EU tenders for entrepreneurs
In order to reduce the significant economic and social divergences of its members, but also to increase the competitiveness of the European economy, the EU, as part of the implementation of cohesion policy (so-called solidarity policy), ensured funding for less developed members, including Croatia.
Operational Programme Competitiveness and Cohesion 2014 – 2020 is a fundamental programming document providing 6.8 billion euros to Croatia for growth and development of jobs through infrastructure investments and the development of entrepreneurship and research activities.
UHY experts with more than 40 successfully prepared projects can help entrepreneurs with:
- Developing entrepreneurial ideas
- Collection and sorting of tender documents
- Structural and linguistic adjustments of the documentation for EU funds
Drawing up projects for EU tenders for public users
There are two basic Operational Programmes for the implementation of the so-called Solidarity policy in the EU in Croatia: Efficient Human Resources 2014-2020 and Competitiveness and Cohesion 2014-2020.
The first programme is intended for “soft” projects, those that improve people’s skills, provide better social inclusion and improve and connect the public administration system to the needs of citizens.
The second programme is, to the fullest extent, intended to stimulate infrastructure investments, which we also call “hard” projects.
Public users can apply and receive grants from both programmes.
UHY experts with more than 35 project proposals for public users can help cities, municipalities, public institutions and museums with:
- Status analysis
- Elaboration of project ideas and adjustments to the tendering conditions
- Preparation and sorting of tender documents
- Feasibility study and cost benefit analysis for infrastructural projects
Everything a successful business needs
More than 400 domestic and foreign entrepreneurs entrusted us with their business books, which saved them time and money. Behind our signature are knowledge, continuous education and results. Do you always want to know the true state of your finances?
We monitor changes in tax laws and regulations every day, and based on our advice, entrepreneurs make faster and more professional business decisions and enter into investments. Ask for tax advice that will reduce your tax costs.
UHY consultants participate in the creation of business plans and investment studies, based on which entrepreneurs manage their investments more efficiently and profitably. Find out how to do business more efficiently.
UHY experts participated in the implementation of more than 60 projects with a high success rate of 97.3%.
More than 4,300 participants attended lectures on accounting, auditing, business and tax consulting, and EU funds. We teach using examples from Croatian practice. Check which educations lead to business success.
Auditing
If you want to get an independent and objective opinion on the fair presentation of the financial statements of a company, institution or association, the audit of financial statements is a service for you.
Our approach to the audit of the financial statement is tailored to the needs of our clients. In addition to fulfilling the legal obligations, it provides a number of opportunities to improve and develop your business and reduce significant risks.
Our audit team consists of six experienced Certified Auditors, registered in the Register of Statutory Auditors of the Ministry of Finance of the Republic of Croatia and a total of sixteen junior auditors and audit assistants.
22
experts in the Audit department of UHY in Croatia
1800+
Successful audits carried out
5000+
Employees with audited clients
6+
billions HRK are Total revenue of audited clients
- Audit of the financial statements
- Audit reviews and agreed-upon procedures
- Audit of capital increase or decrease
- Audits of the establishment, merger, acquisition or division
- Audit of EU Projects
- Due dilligence
Audit of the financial statements
Audit of the financial statements is the process of examining and evaluating financial statements and data, and methods used in the preparation of financial statements, on the basis of which an independent and objective opinion is given on the truthfulness or fair presentation of the status of assets, liabilities, capital and business results.
All audit engagements are conducted in accordance with the Audit Act, Accounting Act and application of International Auditing Standards (MRevS), and the Code of Ethics of for Professional Accountants.
What do entrepreneurs gain with auditing?
A well – established audit of the financial statements, by an internationally recognised network such as UHY, gives your company credibility towards all the users of audit reports that are thus convinced of your scrupulously and accountable business.
Audit reviews and agreed-upon procedures
Audit review or so-called “small audit” is prescribed by law for Non-profit organizations that earn between 3 and 10 million Croatian kuna in the year preceding the audit review. Entrepreneurs with a smaller volume of business that do not require a high level of audit assurance on the financial statements may decide to perform the audit review voluntarily.
How is audit review different from audit of the financial statements?
By completing the Audit of the financial statements, the Certified Auditor expresses an opinion on the financial statements, while the audit review expresses the conclusion whether, during the exercise of the audit procedures, something has molded the auditor’s attention and has become the cause for the financial statements not to be drafted in accordance with the applicable financial reporting framework.
Agreed-upon procedures
The agreed-upon procedures are voluntary auditing engagements in which the entrepreneur decides whether to hire auditors and which areas of financial reporting and accounting operations will be examined. The agreed-upon procedures may include an overview of the overall gross balance, the review of the tax calculation, salary calculation,depreciation calculation, or any other agreed-upon procedure. In contrast to the Financial statements auditing and audit review, the auditor does not express an opinion or belief, but reports on the established factual situation and the derogation from the requirements of the standard and/or the law.
Audit of capital increase or decrease
Revizije povećanja i smanjenja kapitala su posebne revizije s izražavanjem uvjerenja, a koje su propisane odredbama Zakona o trgovačkim društvima.
Revizija povećanja temeljnog kapitala trgovačkog društva provodi se kada se temeljni kapital povećava ulozima u stvarima ili ulozima u pravima, kao i kod povećanja temeljnog kapitala iz sredstava društva, kao što su rezerve ili zadržana dobit. Revizija smanjenja temeljnog kapitala trgovačkog društva provodi se kada se temeljni kapital smanjuje, nominalno ili efektivno.
Cilj revizije povećanja ili smanjenja temeljnog kapitala jest izražavanje revizorova uvjerenja kako su sve poduzete radnje u skladu s odredbama Zakona o trgovačkim društvima.
Audits of the establishment, merger, acquisition or division
Audits of the establishment, merger, acquisition or division take place in case of status changes of companies, under the provisions of the Companies Act, or at the request of the members of the company and the request of the Commercial Court. The objective of the audit of status changes is that the auditor expresses confidence that all actions are in accordance with the provisions of the Companies Act, namely that none of the Investors, pursuant to legal actions carried out, is not damaged by the corresponding share of the share capital.
Since this is a demanding process that creates the added value of the newly created company/companies, it is advised to contact experts with experience in conducting audits of establishment, merger, acquisition or division even before you begin this process.
Audit of EU Projects
Audit of the EU projects is usually the engagement of agreed-upon procedures, but the scope of the audit procedures is prescribed by the Grant Financing Agreements.
The auditor checks that all costs, declared through the final report of the project, are dedicated to the EU project, whether there is credible accounting documentation, whether the accounting and analytical records are harmonised with the report of the project, i.e. whether all other conditions under the grant financing agreement are met.
A poorly or unprofessionally audited EU project can result in the recovery of the funds already received and the automatic classification of your company/institution/association to the blacklist of the beneficiaries of the funds. If you discover any non-compliance with EU regulations on time, you increase your chance to complete the project.
What can we offer:
- Audit of the EU project, aligned with European Union rules
- Compliance with International Auditing Standards (MRevS) (ISA’s)
- Expert team of Auditors with experience
- References
Due dilligence
Due diligence is a deep forensic examination of the business books and reporting on the factual situation, especially in the context of the correctness and accuracy of the financial records, the potential existence of “hidden skeletons in the closet” and reporting to potential investors about the findings.
It is mostly used in cases where an entrepreneur buys or sells a company, and it differs whether it is a financial, tax or legal due diligence.
If you are selling the company, we can create:
- Assessment of the value of a company that reveals the strengths and weaknesses of the company
- Plan to increase the value of the business.
If you are planning an acquisition, we can create:
- Create business plans for the preparation for sale
- Valuation of goodwill and intangible assets
- Tax/financial and legal due diligence.
Priprema projekta za natječaje za EU natječaje za poduzetnike
U cilju smanjenja značajnih gospodarskih i socijalnih razlika svojih članica, ali i povećanja konkurentnosti europskog gospodarstva, EU je, u okviru provođenja kohezijske politike (tzv.politike solidarnosti), osigurala sredstva za manje razvijene članice, među kojima je i Hrvatska.
Operativni program Konkurentnost i kohezija 2014.- 2020. je temeljni programski dokument kojim je Hrvatskoj osigurano 6,8 milijardi eura za rast i razvoj radnih mjesta kroz ulaganja u infrastrukturu te razvoj poduzetništva i istraživačkih djelatnosti.
UHY stručnjaci s više od 40 uspješno pripremljenih projekata mogu pomoći poduzetnicima kod:
razrade poduzetničke ideje
prikupljanja i sortiranja natječajne dokumentacije
strukturne i jezične prilagodbe dokumentacije za EU fondove.
Everything a successful business needs
More than 400 domestic and foreign entrepreneurs entrusted us with their business books, which saved them time and money. Behind our signature are knowledge, continuous education and results. Do you always want to know the true state of your finances?
We monitor changes in tax laws and regulations every day, and based on our advice, entrepreneurs make faster and more professional business decisions and enter into investments. Ask for tax advice that will reduce your tax costs.
UHY consultants participate in the creation of business plans and investment studies, based on which entrepreneurs manage their investments more efficiently and profitably. Find out how to do business more efficiently.
UHY experts drew up more than 150 projects that got almost one billion kuna of funds approved.
More than 4,300 participants attended lectures on accounting, auditing, business and tax consulting, and EU funds. We teach using examples from Croatian practice. Check which educations lead to business success.
Accounting
Are you looking for accounting that is more than just recording accounts, payroll and compiling VAT returns? Are you expecting specific advice from your accountant on what to look out for when making certain business decisions, or how to save money? Are you doing business with foreign countries, and you are not sure if all your paperwork is right?
UHY in Croatia has offices in Zagreb and Split, employing 46 professionals. Through UHY International, we are globally networked with 8,221 independent accountants and financial experts from 308 offices in 100 countries in the world.
3
Certified Tax Consultants
20
Professionals in auditing and accounting
46+
Employed professionals in Accounting – including 6 Certified Auditors, 4 Tax Consultants and 5 business consultants
8221+
Independent accountants around the world
- Bookkeeping/Accounting
- Accounting Consulting
- Payroll Service
- Preparation of annual financial statements
- Management Reports
- Preparation of tax reports
- VAT Tax Refund service
- Registering foreign companies for VAT purposes and reporting to the Tax administration
- Cloud accounting
Bookkeeping/Accounting
Bookkeeping services, by definition, involve accounting for entrepreneurs (and small business owners), in accordance with all legal requirements, and preparation and disclosure of the statutory reports to the Tax administration office, or submission of financial statements to FINA.
In practice, this means that your accountant collects and records all incoming and outgoing invoices, cash register reports, carries out registrations and cancellations of employees at HZMO, calculates salaries and other benefits, and prepares the financial statements for the Taxation office and FINA.
What UHY accounting services include:
- Bookkeeping and other tasks in accordance with Income Tax Law and Corporate Tax Law (accounts receivables and accounts payable balances, cash accounting, manufacturing, cash registers, travel orders…)
- Personnel administration and payroll (registration/ deregistration of employees, salary calculations, royalty calculations, student contracts, tax cards…)
- Reports and control (financial, statements, annual report, tax registrations of employees, reports to HZZO, HZMO, HNB, financial analysis on demand…)
A good accountant can save time and money, but also help the entrepreneur to get the maximum financial benefit from the business in accordance with the law.
Accounting Consulting
Accounting Consulting is a service whereby the client receives continuous monitoring of the correct application of the accounting regulations, General ledger entries of the accounting transactions, completeness and accuracy of financial statements – all with the goal of increasing the security of accounting records and reducing the risks in the event of an Tax Supervision.
A good accountant can save time and money, but also help the entrepreneur to get the maximum financial benefit from the business in accordance with the law.
What UHY Accounting Consulting includes:
- Consulting on request
- Continuous consulting throughout the financial year
- Individual workshops and seminars
Payroll Service
Outsourcing payroll services saves time and money to small and medium companies.
How? No payments to an internal payroll officer, no investments for updating or buying software or worrying about changes in tax legislation or possible penalties due to tax non-compliance.
What UHY Payroll Services include:
- Salary calculations and payment order preparations
- Calculation of compulsory contributions, taxes and surtaxes on and from salaries
- Processing of travel orders for travel within Croatia and abroad
- Preparation of supporting documents relating to payroll (JOPPD,IP)
- Preparation of sick leave reimbursement requests for HZZO
- Calculation of monthly, quarterly or annual bonuses
- Calculation of tax and surtax on annual basis
- Preparation of non-taxable payments (Christmas and Easter bonus, regression payments, severance payments)
- Preparation of Copyright contract or Work contract calculations
- We guarantee confidentiality and data security
Preparation of annual financial statements
FINANCIAL STATEMENTS
Upon completion of each business year, entrepreneurs are obliged to prepare and publicly disclose the required annual financial statements. Preparation and conducting of financial statements is often demanding work that internal employees of the company cannot perform due to personnel, expertise and time issues.
In this case, directors or Management board members seek the services of external experts who will prepare reliable and credible financial statements in accordance with legal regulations and set deadlines.
What Financial Statements you can request from the UHY experts:
- Balance sheet
- Profit and loss account
- Notes to the Financial Statements
- Statement of Changes of Equity
- Cash flow statement
In addition to the financial statements, UHY experts will compile additional documentation for the purpose of public disclosure ( Decision on financial statements , Allocation of Profit and Loss), i.e. GFI-POD for statistical purposes, as well as the declaration Application of Income Tax for delivery to the Tax administration office.
We draw up all financial statements in accordance with the provisions of the law and applicable Financial Reporting Standards (CFRSI/IFRS).
Management Reports
Every management report is different, i.e. Directors/Board Members decide which items they want to see in the report whether it comes to investments, expenses, salaries, debt or else.
However, when preparing management reports, UHY experts use the following rules:
- Focus is on the big picture and the key message of the management report
- We use the terms that are understandable to clients and provide key indicators of the company’s success:
- Income, EBITDA, margins, inventory turnover, accounts receivable
- We prepare reports that are easy to present, without redundant graphs and advanced tables
- Data in our reports has a purpose and is not a goal in itself
- Each report has comparative data with the aim to show the realization, plan and previous period with marked areas that have failed or exceeded the plan and realisation.
Preparation of tax reports
Companies with in house accounting may require the external preparation of the annual reports for the Tax administration.
Entrepreneurs have deadline to submit by April 30 of the current year the following reports to the Tax Authorities:
- Corporate Income Tax Declaration Application (PD form)
- Profit and Loss account (RDG)
- Previous year Balance sheet Balance sheet
In addition to Corporate Income Tax Declaration we also submit:
- Report on transactions with related parties (PD-IPO)
- Calculation of the use of deductions and exemptions
- Statement on the usage of overpaid tax per tax report
- Review of loss brought forward per year Review of the tax loss carried forward
- Proof of tax paid abroad for those tax users who paid Income tax abroad
- A certified copy of the tax declaration submitted to the foreign tax authorities for the business unit
- An overview of all fees paid with information on the name of the foreign recipient, the date and amount of the payout, the tax paid, and the applied withholding tax rate
Apart from these reports, Tax administration asks the entrepreneurs for the final calculation of membership fees to the tourist boards, monument levies and final calculation for the use of the generally useful functions of the forests that is delivered to the address of Hrvatske šume.
VAT Tax Refund service
VAT Tax Refund is an electronic system for VAT refund of tax administration for all taxpayers in CROATIA wishing to apply for a VAT refund from another country that is a member of the European Union.
The request for a VAT refund through the electronic system may be submitted by:
- Applicant (tay payer) or their proxy.
- How will a taxpayer exercise their right to reclaim VAT from the European Union?
If you have paid VAT in another EU country, and you think you are entitled to a refund, please contact us, and bring us original or scanned receipts invoices that contain the statutory data. UHY will perform the entire VAT refund procedure, which includes registering, scanning and sending invoices, and filling in the required data. Upon successful processing by the tax administration of DDČ Tax Authorities of other EU member Country, you will receive a VAT refund directly to your account.
Registering foreign companies for VAT purposes and reporting to the Tax administration
By entering Croatia into the EU, all companies are required to apply the rules of the Member State in which they have their head office or permanent establishment when invoicing and paying VAT.
In other words, companies operating in Croatia that have their head office in other European Union countries are obliged to ask the Croatian tax authority for tax VAT-ID ID number and to pay VAT in Croatia.
UHY can help – we will apply for registration for VAT purposes and identification and allocation of the OIB (Personal Identification Number), but also keep legal tax records and submit a monthly VAT form and any other statutory forms.
What documentation is required to submit an application for the allocation of VAT ID number:
- Application for registration for the purposes of value added tax (P-VAT form)
- Request to determine and assign a personal identification number (PIN)
In addition to these requirements it is necessary to provide:
- Proof of registration of a person (act of incorporation or excerpt from the competent register)
- Confirmation of the tax administration of the state in which the person is registered as a taxpayer
- Proof or declaration of intent on business in Croatia
- Certified Power of Attorney (if they operate through a tax representative)
Cloud accounting
We meet working in a cloud on a daily basis: tax receipts, internet banking, mobile apps, e-mail… Today’s lifestyle seeks a faster, simpler and more accessible way of doing business.
To keep track of current business trends in our region, but also on the basis of the rich experience of the UHY network, we have enabled our clients with the most modern and secure cloud accounting.
Cloud Accounting allows you to deliver all the accounts electronically, from the comfort of your office or business premises, using your computer or mobile phone. Also, all business data is up-to-date and available with a single mouse click or one touch of your phone’s screen.
Why Cloud Accounting?
- No installation and upgrades.
- The basic accounting program and database are installed on the server. The user initially downloads the application to his or her mobile phone or computer. This application is updated automatically with each user’s entry (login). Therefore, forget about manual upgrades and installations because everything is being taken care of by the program provider.
- Access from any device at any time.
- Access to the program and data is enabled online from anywhere and at any time. The entrepreneur and their accountant can access the same data and documents, which is much clearer and faster.
- No extra purchases and hidden costs.
- Internet programs are not purchased – instead monthly fee is paid for using them. All upgrades, maintenance, update of billing data and customer support are included.
How secure is the data?
We use the latest technologies for data security, and we use encryption methods to transmit data over the Internet (from server to user), so that data is inoperable for malicious persons who could intercept data.
Priprema projekta za natječaje za EU natječaje za poduzetnike
U cilju smanjenja značajnih gospodarskih i socijalnih razlika svojih članica, ali i povećanja konkurentnosti europskog gospodarstva, EU je, u okviru provođenja kohezijske politike (tzv.politike solidarnosti), osigurala sredstva za manje razvijene članice, među kojima je i Hrvatska.
Operativni program Konkurentnost i kohezija 2014.- 2020. je temeljni programski dokument kojim je Hrvatskoj osigurano 6,8 milijardi eura za rast i razvoj radnih mjesta kroz ulaganja u infrastrukturu te razvoj poduzetništva i istraživačkih djelatnosti.
UHY stručnjaci s više od 40 uspješno pripremljenih projekata mogu pomoći poduzetnicima kod:
razrade poduzetničke ideje
prikupljanja i sortiranja natječajne dokumentacije
strukturne i jezične prilagodbe dokumentacije za EU fondove.
Everything a successful business needs
We monitor changes in tax laws and regulations every day, and based on our advice, entrepreneurs make faster and more professional business decisions and enter into investments. Ask for tax advice that will reduce your tax costs.
UHY consultants participate in the creation of business plans and investment studies, based on which entrepreneurs manage their investments more efficiently and profitably. Find out how to do business more efficiently.
UHY experts drew up more than 150 projects that got almost one billion kuna of funds approved.
UHY experts participated in the implementation of more than 60 projects with a high success rate of 97.3%.
More than 4,300 participants attended lectures on accounting, auditing, business and tax consulting, and EU funds. We teach using examples from Croatian practice. Check which educations lead to business success.