CROATIA’S 2008 TAX FREEDOM DAY

June 13, 2008, Zagreb

Adriatic Institute announces CROATIA’S 2008 TAX FREEDOM DAY

Croatia’s Tax Freedom Day – Dan Porezne Slobode calculated by The Adriatic Institute falls on June 13, 2008, a day later when compared to last year’s findings. On Friday, June 13, 2008, Croatia’s workers stopped working for the Minister of Finance and began to work for themselves. Nacional – Croatia’s independent economic and political weekly featured Croatia’s Tax Freedom Day through a major article. Croatian taxpayers worked 164 days for the government this year. Croatia’s government expenditures reach 45% of GDP.

Croatia’s heavy tax burden includes a value added tax (VAT) of 22% which is the highest in eastern Europe. Only two countries within the EU have a higher VAT than Croatia: Denmark and Sweden both have a VAT of 25%.

Natasha Srdoc, president of the Adriatic Institute called for lower tax rates – and the introduction of the flat tax of 15% for personal and corporate income including VAT. The 15% flat tax for Croatia is based on a recent flat tax simulation model prepared by Natasha Srdoc.

Tax Freedom Day was covered by independent broadcasting and print media in Zagreb including the independent Radio 101, Radio Rijeka, Kapital Biz TV, Sutra 24 and a live interview from Silicon Valley with Natasha Srdoc on NOVA TV’s evening program hosted by TV anchor – Mirjana Hrga. Featured articles appeared in Nacional, Banka, Business HR, Lider Press, Privredni Vjesnik, Sutra and other media.

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