Minister Cappelli: The sojourn tax is not a tax, nor a parafiscal levy

first_imgAfter the entire tourist industry, from the hosts in the family accommodation and hoteliers, loudly rebelled against raising the sojourn tax, the Ministry of Tourism and the Croatian Tourist Board also reacted.MINT and CNTB: Tourist tax funds important revenue of the CNTB for the promotion of CroatiaThe funds collected by the sojourn tax are an important income of the Croatian Tourist Board aimed, among other things, at financing promotional activities, and the proposal of new changes in the sojourn tax is being worked on by the Croatian Ministry of Tourism, as a result of coordination and agreement with all stakeholders. changing market challenges with the main goal – strengthening the competitive position of our country on the world tourist map, point out the MINT.The Minister of Tourism of the Republic of Croatia, Gari Cappelli, points out that the sojourn tax is not a tax or parafiscal levy and the funds are not transferred to the state treasury, but to revenues that are returned directly to destinations through redistribution, cities, counties, CNTB and the Red Cross. “The sojourn tax is stated on a separate invoice and can in no way be part of the price of our accommodation offer. The amounts have not changed since 2005, when it was calculated at the level of 35 days of occupancy and the average price of 100 kuna in private accommodation. When you look at how many millions of people have searched our country these days thanks to the strong promotion for the historic success of our footballers at the World Cup, it is invaluable. I am sure that all our dear guests would be happy to contribute to the beauty, infrastructure, offer and promotion of destinations in the Republic of Croatia that they have chosen as their vacation spot.”, commented the Minister of Tourism of the Republic of Croatia and the President of the Croatian Tourist Board Gari Cappelli. Director of the Croatian Tourist Board Kristjan Staničić points out that the funds collected by the sojourn tax significantly improve the functioning of the entire system and enable the implementation of key legal tasks such as promotion, development of tourist offer, encouraging events in the destination and strengthening competencies and professionalization of employees. “We know that the sojourn tax is the most significant income of the tourist board system, and it is the amount paid by the guest and which, for example, through the model of joint advertising, event support, offer improvement and more is largely returned to the system. The competition does not stand still. More money from the sojourn tax means more money to promote the country. This would really help us to continue to follow in the promotional and marketing sense, but also to impose trends in order to strengthen the recognition of Croatia as a tourist destination on the international market.”, concluded the director of the CNTB, Kristjan Staničić.NEW REGULATION ON THE AMOUNT OF RESIDENCE TAXThe new Decree on the amount of sojourn tax, which should enter into force on January 1, 2019, determines the amount of sojourn tax paid by persons who spend the night in a catering facility from the group Camps, the lump sum of sojourn tax paid by citizens providing catering services in household and peasant household, the amount of the lump sum of the sojourn tax paid by the owner of the holiday home or apartment for himself and members of the immediate family (“weekenders”) and the lump sum of the sojourn tax paid by the owners or users of the vessel for themselves and for all persons vessel (sailors). The decree proposes to increase the amount of the sojourn tax for persons who use the overnight service in accommodation facilities where the sojourn tax is paid per night (except campsites) by 25% more compared to 2018. Therefore, the amount of this tax in a tourist place of class A in the main summer part of the season in hotels and similar accommodation would increase from 8 to 10 kuna. The regulation also proposes to increase the amount of the sojourn tax for persons providing catering services for accommodation in the household and on the family farm by 15% – it has not changed since 2005.These changes will apply only to A class and apply only in the heart of the tourist year, point out the MINT, adding that the amount of sojourn tax is not determined by location but by seasonal periods and the class of the tourist place. The amount of the sojourn tax does not change, ie it remains at the same level as in 2018 for people who spend the night in a catering facility from the group Camps (types of camps and camping rest areas), and for the owner of a holiday home and apartment and members of his immediate family who pay the sojourn tax in an annual lump sum. For household camps, the amount of the sojourn tax prescribed for private renters applies.RELATED NEWS:CROATIAN TOURIST INDUSTRY AGAINST RAISING RESIDENCE TAX BEFORE RESTRUCTURING THE TOURIST BOARD SYSTEMANNOUNCEMENT OF INCREASE IN RESIDENCE TAX AND TAX CAUSED AN AVAILABLE OF DISSATISFACTIONlast_img read more

Dutch regulator to increase scrutiny of sustainable strategies

first_imgWith regard to risks from an energy transition, a DNB survey found that 12.4% of Dutch pension funds’ balance sheets were exposed to carbon-intensive sectors facing increased transition risks. On a positive note, the regulator found that Dutch pension funds and other financial institutions appeared to have only limited exposures to countries deemed most vulnerable to climate change.It came up with this assessment after applying a “vulnerability index”.Green finance warningsDNB also cautioned that growth of the market for green finance could lead to a “green bubble”, where investments were overvalued and asset prices had to be adjusted.It also said that financial institutions should be aware of the risk of reputational damage due to greenwashing of products such as green bonds.There appeared to be a need for more “unambiguous standards” for green investments, the regulator said. Supervisors should not relax rules to promote sustainable finance, it added.“We have noticed that some parties are calling for such action at national and international fora, often arguing that capital requirements imposed on sustainable finance should be lowered,” it said.However, in DNB’s view capital requirements should not be lowered to realise social objectives, as their purpose was to absorb unexpected losses and must therefore adequately reflect properly quantified risks.Also, pricing negative externalities and fiscal incentives were more effective and efficient options for achieving climate goals, it said.DNB’s report is available here. Pension funds needed to broaden their approach to assessing energy transition implications as they, and insurers, often seemed to limit their considerations to their actively-managed equity portfolios, said DNB.“[A] more holistic approach regarding their total balance sheet is in most cases lacking,” it said.Real estate risksThe regulator also warned that a new sustainability requirement for Dutch buildings could pose risks for pension funds.Due to be effective from January 2023, the requirement means all office buildings must have at least a “level C” energy label, or else they must be taken out of use.It found that pension funds and insurers were less exposed to commercial real estate with lower range energy labels than banks were, but said that “as the owners of these buildings, pension funds and insurers are directly responsible for investing in sustainability measures”.Dutch pension funds have invested 9% in commercial real estate and their mortgage portfolios continue to grow, DNB said.The regulator added the investment impact depended on a number of factors and that it did not have a comprehensive overview of the label distribution of all investments and loans related to office buildings.Focusing on the physical impacts of climate change, DNB said that banks, insurers and pension funds needed to take into account the risk of flood damage impairing investments.The risk could be realised if flooding necessitated substantial public spending and shrank tax revenues, thereby triggering credit downgrades and affecting sovereign bonds held by pension funds, insurers and banks.#*#*Show Fullscreen*#*# Dutch pension funds should expect to be quizzed by their supervisor about their approach to climate-related risks, according to a report published by De Nederlandsche Bank (DNB) yesterday.The financial regulator said it intended to embed climate-related risks more firmly in its supervision with the aim of ensuring sustainable financial stability.It will incorporate climate-related risks in its assessment frameworks and address them in its interviews with supervised institutions, it said. These include pension funds and insurers.DNB is currently working on a stress test for risks arising from the transition to a lower-carbon economy. It is approaching this from macroeconomic and macro-prudential perspectives.last_img read more

Special award ceremony for principals to be held this morning.

first_img Sharing is caring! Share Tweet EducationLocalNewsPrimarySecondary Special award ceremony for principals to be held this morning. by: – April 20, 2011 Sharecenter_img Chief Education Officer, Mr. Steve Hyacinth. Photo credit: GIS NewsDominica’s excellent Primary and Secondary School principals are to be recognized during a ceremony at the Arawak House of Culture this morning.Chief Education Officer Mr. Steve Hyacinth says fourteen prinicpals will receive awards.“We have decided to recognize a few of our excellent principals. Principals who at the helm of our schools have demonstrated strong leadership and I would dare say transformational leadership and who have shown us that they have the ability to inspire change, and to make an enormous difference in the school direction. The event at the Arawak House of Culture will honor ten Primary School Prinicpals and four Secondary School Principals of excellence.”The ceremony will begin from 10:00am this morning.Dominica Vibes News 39 Views no discussions Sharelast_img read more