If You Have Property Sitting Idle In Croatia – Sell it, Advises Minister

Croatia’s Minister of Finance Slavko Linic has come out and advised anyone with property sitting idle, that they should get rid of it before the new Property Tax Law comes into effect on 1 April 2013.

“On property that is not used for any purpose, citizens, business owners, the state and local councils will have to pay the full amount of tax on the value of the property. A message for owners of these properties – Free up the property you do not know what to do with, otherwise it will become an extra burden to you, said Linic, adding that insolvency problems arising from large credit debt occurred because entrepreneurs invested money in real estate, rather than the technology, equipment or human resources.

Linic also announced that parliament would debate the new proposed Property Tax Law in the next few months, with all interested parties having a chance to present suggestions. After the debate is over, Croatia will introduce the new tax, which will be based for the first time, on the value of property on 1 April 2013