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Finmin says Croatia's effective income tax rate among lowest in Europe

Autor: ;mses;
ZAGREB, March 14 (Hina) - A senior official of the ruling CroatianDemocratic Union (HDZ) and Finance Minister Ivan Suker has said thatCroatia's tax system is good and that the effective income tax rate of8.21 percent is among the lowest in Europe.
ZAGREB, March 14 (Hina) - A senior official of the ruling Croatian Democratic Union (HDZ) and Finance Minister Ivan Suker has said that Croatia's tax system is good and that the effective income tax rate of 8.21 percent is among the lowest in Europe.

According to a study conducted by the Public Finance Institute, ten percent of tax payers with the highest incomes pay a tax rate of 66 percent on income which proves that the country has a progressive tax system, Suker told a news conference held by his party in Zagreb on Tuesday.

All macroeconomic trends in the first quarter of this year show that Croatia is experiencing a steady economic growth.

For instance, industrial output in the first two months was 5.1 percent higher than in the same period of 2004.

From the start of this year to 13 March, budgetary revenues rose by 14 percent as against the comparable period of 2004, the minister said.

The collection of excise duties rose by 10 percent in the first quarter as against the same period last year, he added.

Responding to criticisms from the strongest opposition party, the Social Democrats, the minister said that a financial statement had been issued on his ministry's web site with transparent data on all revenues, expenditure and other costs of the incumbent government.

(Hina) ms

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