Croatia Localization

 

 

Croatia Localization

Overview

The Croatia Localization SuiteApp has localized features for business needs that are specific to Croatia. These features will help your company adapt to business practices and comply with business regulations or requirements.

The Croatia Localization SuiteApp includes the following features:

  • VAT Reporting

  • ECB Exchange Rate Integration

  • Sales Invoice PDF Templates

  • Financial Reporting

 

VAT Reporting

The VAT reporting features allow you to view and generate the reports directly from NetSuite. The files can be exported in XML format that follows the structure defined by Croatia’s tax administration office.

This includes:

  • VAT Return (PDV)

  • Books of Received Invoices (U-RA)

  • EC Sales List (ZP)

  • EC Purchase List (PDV-S)

 

VAT Return (PDV)

In Croatia, the VAT return (PDV) is mandatory for businesses registered for VAT, including those exceeding the HRK 300,000 threshold in a rolling 12-month period. This return includes input VAT (on purchases) and output VAT (on sales) and is filed monthly or quarterly, depending on business size.

Generate VAT Return (PDV) report in XML format directly from NetSuite, following the official structure set by the tax authority. Users can generate the report on demand, with data sourced directly from NetSuite records. Updates align with the latest regulatory requirements.

 

Books of Received Invoices (U-RA)

The U-RA report is used by businesses to systematically record all invoices received from suppliers. It serves as a comprehensive record of purchases and expenses for accounting and tax purposes. The report typically includes details of received invoices, such as the invoice number, date of receipt, supplier's information (including VAT identification number), description of goods or services, quantities, unit prices, and total amounts.

Croatian businesses are required to maintain accurate and up-to-date U-RA reports as part of their tax compliance obligations. These reports help ensure transparency and accuracy in financial reporting and tax filings. While the U-RA report itself may not be submitted to tax authorities, it serves as a crucial source of information for preparing VAT returns and other tax-related reports.

Generate Books of Received Invoices (U-RA) report in XML format directly from NetSuite, following the official structure set by the tax authority. Users can generate the report on demand, with data sourced directly from NetSuite records. Updates align with the latest regulatory requirements.

 

EC Sales List (ZP)

Croatian businesses engaged in transactions with other EU member states are required to maintain and submit the PDV-S EC Purchase List as part of their VAT compliance obligations. It ensures transparency and accuracy in reporting cross-border transactions. The PDV-S EC Purchase List is submitted electronically to the Croatian Tax Administration (Porezna Uprava). It serves as a crucial document for VAT reporting and compliance, allowing tax authorities to monitor and verify cross-border transactions.

Generate EC Sales List (ZP) report in XML format directly from NetSuite, following the official structure set by the tax authority. Users can generate the report on demand, with data sourced directly from NetSuite records. Updates align with the latest regulatory requirements.

 

EC Purchase List (PDV-S)

The EC Sales List (ECSL) is a report used within the European Union (EU) to record and report intra-community sales of goods and services. Businesses registered for VAT in an EU member state are required to submit the EC Sales List if they make supplies to VAT-registered customers in other EU member states. The ECSL typically includes details of sales transactions, such as the customer's VAT number, the value of goods or services supplied, and the country code of the customer.

Generate EC Purchase List (PDV-S) report in XML format directly from NetSuite, following the official structure set by the tax authority. Users can generate the report on demand, with data sourced directly from NetSuite records. Updates align with the latest regulatory requirements.

 

✅ Ensure compliance – Generate reports that align with the latest tax authority requirements.
✅ Reduce risk of errors – Data is sourced directly from NetSuite, minimizing manual adjustments.
✅ Save time – Automate report generation instead of manually compiling data.
✅ Improve accuracy – Users can review the report in NetSuite before submission.
✅ Full audit trail – Keep track of changes for compliance and internal controls.

 

Currency Exchange Rate Integration with the European Central Bank

From 1 January 2023, the euro will become the official currency of the Republic of Croatia and then the current currency of the kuna will cease to exist. This means that in all documents (including invoices) and all legal instruments issued, drawn up, and issued after the day of the euro introduction, the amounts must be stated in euros.

This feature automatically retrieves exchange rates for foreign currencies against Euro from the European Central Bank based on a defined schedule. The system then updates the currency exchange rate list in NetSuite, ensuring that the latest rates are applied without manual intervention.

The feature includes:

  • Automated retrieval and update of exchange rates.

  • Configurable scheduling to define when rates are fetched.

  • Option to fetch exchange rates before the effective date to allow pre-validation.

✅ Ensure compliance – Uses official rates from the European Central Bank to meet regulatory requirements.
✅ Reduce risk of errors – Automates exchange rate updates, eliminating manual data entry mistakes.
✅ Save time and effort – Removes the need for manual retrieval and entry of foreign exchange rates.
✅ Improve financial accuracy – Ensures transactions and financial statements use the correct exchange rates.

 

Sales Invoice PDF Templates

Businesses in Croatia must ensure that invoices and credit memos include all legally required details, such as VAT breakdowns, invoice numbering, and other mandatory fields. NetSuite’s standard templates do not always meet these local compliance requirements, requiring customization.

The SuiteApp provides pre-configured HTML/PDF layouts for invoices and credit memos, ensuring they meet Croatian VAT compliance standards. The feature includes:

  • Predefined invoice and credit memo templates that display all required fields.

  • VAT-detailed summary for clear tax reporting.

  • Language selection based on the customer's preferred language (English or Croatia).

  • Standardized format to streamline invoicing and credit memo generation.

✅ Ensure compliance – Meets local tax authority requirements for invoice and credit memo formatting.
✅ Faster implementation – Ready-to-use templates reduce the need for extensive customization.
✅ Professional and standardized documents – Improves document clarity for customers and tax authorities.
✅ Multilingual support – Generates invoices and credit memos in English or Croatia based on customer preference.
✅ Automated VAT summary – Ensures accurate VAT breakdowns and easier reconciliation.

Localized Balance Sheet Report

Most companies are required to compile and present annual financial statements following the Croatian Financial Reporting Standards or the International Financial Reporting Standards. Companies in Croatia must prepare a Balance Sheet that complies with local accounting regulations. This is based on the rule of the structure and content of annual financial reports. The accounts mapping is based on the unified chart of accounts.

The Balance Sheet Report feature allows users to generate a Balance Sheet in multiple formats:

  • Excel

  • PDF

  • CSV

  • Word

✅ Time Savings – Automates Income Statement preparation, reducing manual work.
✅ Minimizes Errors – Reduces the risk of miscalculations.
✅ Flexible Output – Provides various export options (Excel, PDF, CSV, Word).
✅ Regulatory Compliance – Ensures adherence to local accounting standards.

Localized Income Statement Report

Most companies are required to compile and present annual financial statements following the Croatian Financial Reporting Standards or the International Financial Reporting Standards. Companies in Croatia must prepare a Income Statement that complies with local accounting regulations. This is based on the rule of the structure and content of annual financial reports. The accounts mapping is based on the unified chart of accounts.

The Income Statement Report feature allows users to generate a Income Statement in multiple formats:

  • Excel

  • PDF

  • CSV

  • Word

✅ Time Savings – Automates Income Statement preparation, reducing manual work.
✅ Minimizes Errors – Reduces the risk of miscalculations.
✅ Flexible Output – Provides various export options (Excel, PDF, CSV, Word).
✅ Regulatory Compliance – Ensures adherence to local accounting standards.

Supported Features:

  • NetSuite OneWorld

  • Legacy Tax

Unsupported Features:

  • SuiteTax

  • Non-OneWorld Accounts

 

© 2023 Staria. All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher.

 

© 2024 Staria. All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the publisher.