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UPPER HOUSE ENDORSES CHANGES TO VAT LAW & FINANCING OF PARTIES

ZAGREB, Dec 14 (Hina) - The Croatian Sabor's House of Counties on +Monday endorsed a bill on changes and amendments to the Law on Value +Added Tax (VAT).+ The proposed changes envisage the prolongation of the accounting +period from the present 15 to 30 days, and the increase of the census +for becoming subject to the VAT system from the current US$8,000 to +US$12,000 annual income.+ The Upper House also endorsed an amendment motioned by Niko Bulic of +the ruling Croatian Democratic Union that accommodation in tourist +facilities be exempt from VAT.+ The Upper House further endorsed changes to the Law on Political +Parties. + According to this bill, the parties would receive US$3.2 million +from next year's state budget instead of this year's US$565,000. + Also envisaged is a new method of distributing funds for political +parties, whereby 20 percent would be equally distributed to all +par
ZAGREB, Dec 14 (Hina) - The Croatian Sabor's House of Counties on Monday endorsed a bill on changes and amendments to the Law on Value Added Tax (VAT). The proposed changes envisage the prolongation of the accounting period from the present 15 to 30 days, and the increase of the census for becoming subject to the VAT system from the current US$8,000 to US$12,000 annual income. The Upper House also endorsed an amendment motioned by Niko Bulic of the ruling Croatian Democratic Union that accommodation in tourist facilities be exempt from VAT. The Upper House further endorsed changes to the Law on Political Parties. According to this bill, the parties would receive US$3.2 million from next year's state budget instead of this year's US$565,000. Also envisaged is a new method of distributing funds for political parties, whereby 20 percent would be equally distributed to all parties, and 80 percent according to representation in both houses of the parliament. During the debate, representatives pointed to the necessity of legislative regulation in the financing of parties on a local level, and to the necessity of distinguishing parties which did not enter parliament on their list, but on that of other parties. Also requested was a precise definition of who is considered a parliamentary party. Miroslav Rozic of the Croatian Party of Rights noted that the Serb Independent Democratic Party has a representative who was not elected but appointed by the President of the Republic. (hina) ha jn

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