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Post by crojoe on Jan 13, 2016 14:43:22 GMT 1
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Post by Ribaric on Jan 13, 2016 18:43:50 GMT 1
I've read it three times now, not much the wiser TBH.
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Post by Carol on Jan 14, 2016 18:19:30 GMT 1
This is my (rather hazy) take on it. If you are :-
a UK resident with a Croatian company AND
you get an income via a dividend payment from that company
THEN
You'll be taxed at 5% in Croatia and the rest of the tax will be paid to the UK
However, if your Croatian doo owns a company and pays most of its income away in dividends, then Croatia is going to hold onto he first 15% and the Uk can have the rest.
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Post by velebit on Jan 14, 2016 22:53:22 GMT 1
Is this new tax/disclosure standard operational as of now,or next tax year or September2017( result of a quick google!). Not received any formal notification from HMRC..is there a link anywhere which provides said information? Are standard Croatian current accounts,which may bear interest ...in my case minimal kunas through Splitskabanka..affected by this and does this have to be declared? Will Croatian banks issue annual tax certificates detailing interest paid for this purpose as is the case in the UK. Any light which anyone can shed on this would be appreciated?
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Post by Carol on Jan 15, 2016 16:10:43 GMT 1
I thnk this answers some of your questions Velebit:- In the UK, the 2015 treaty will take effect in respect of income tax and capital gains for any year of assessment beginning on or after April 6, 2016; and in respect of corporation tax, for any financial year beginning on or after April 1, 2016. In respect of withholding taxes, the new treaty became effective for amounts paid or credited on or after January 1, 2016. - See more at: www.tax-news.com/news/UK_Tax_Treaties_With_Croatia_Bulgaria_In_Force____70149.html#sthash.DlnMNthI.dpuf
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Post by Carol on Jan 15, 2016 21:00:18 GMT 1
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Post by Ribaric on Jan 16, 2016 10:52:06 GMT 1
Thanks for this Carol. Trouble is, the more I read, the more confused I get. I've decided to sit and wait and see what happens. Pathetic I know but .... :-(
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Post by Carol on Jan 17, 2016 13:26:29 GMT 1
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Post by Ribaric on Jan 17, 2016 21:47:14 GMT 1
Is isn't very clear about UK pensions paid to residents of Croatia. Unless you can decypher it?
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Post by Carol on Jan 18, 2016 10:37:47 GMT 1
Without reading it, I'd have thought it would mean UK keeps 5% tax and Croatia gets the rest. So, let's say Cro tax is 59%. Then You pay 59% in total, but Cro only gets 54% and UK gets 5%.
You need a tax adviser.
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Post by crojoe on Jan 18, 2016 16:32:41 GMT 1
Without reading it, I'd have thought it would mean UK keeps 5% tax and Croatia gets the rest. So, let's say Cro tax is 59%. Then You pay 59% in total, but Cro only gets 54% and UK gets 5%. You need a tax adviser. In short only accept cash payments! LOL!
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Post by Ribaric on Feb 26, 2016 10:22:36 GMT 1
An update on CroJoe's post. The income tax agreement between the UK and Croatia, as far as it concerns UK pensioners living here in HR, seems to be that HR residents must pay the Croatian rate of tax but the UK gets the first 12%, HR gets the rest. The reverse is also true but I doubt any HR pensioners are living in the UK, they'd have starved by now. No word about those with "temporary residence" visas.
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