Analysis of the impact of tax policy on attraction and realization of investments in Croatia's tourism

Fiskalna politika je temelj svake suvremene države, a porezna politika, kao dio ukupne fiskalne politike, jest od velikog značaja u svakom gospodarstvu. Porezni sustavi razlikuju se od zemlje do zemlje, a ono što im je svima zajedničko jest njihova kompleksnost. U Republici Hrvatskoj porezni sustav je doista kompleksan, prisutne su relativno visoke porezne stope, a svjedoci smo i čestih promjena poreznih zakona. Turizam je vrlo važan za hrvatsko gospodarstvo, perspektivan je te pokazuje puno potencijala za ostvarivanje sve boljih i pozitivnijih rezultata iz sezone u sezonu. Međutim, turizam je opterećen mnogim porezima koji su kočnica stranim, ali i domaćim investitorima koji su, zbog neiskorišenih prirodnih, povijesnih i kulturnih ljepota, spremni ulagati u Hrvatsku i još je više i bolje predstaviti na međunarodnom tržištu kao poželjnu turističku zemlju. Prvi dio rada započinje upravo definiranjem pojmova porezni sustavi i porezi, kao i prikazom poreznog sustava te aktualnim poreznim stopama u Republici Hrvatskoj. Daje se uvid u utjecaj turizma na ukupno gospodarstvo Hrvatske te primjena poreznog sustava u toj deriviranoj gospodarskoj strukturi. Nadalje, prikazuju se pozitivni i negativni elementi porezne politike u realizaciji investicija u turizmu, kako sveukupno, tako i u pojedinim segmentima turizma te utjecaj fiskalizacije na suzbijanje sive ekonomije u turizmu te njezini dosadašnji rezultati. Nakon toga, prikazuju se primjeri iz prakse, realni primjeri kako porezna politika utječe na pojedini projekt ili investiciju, ali i na realizaciju istih. Porezna politika jedan je od ključnih elemenata u privlačenju i realizaciji investicija stoga je važno da ona odgovara investitorima, poslovnim subjektima, ali i da donosi izdašne javne prihode.Fiscal policy is the foundation of every modern state, and tax policy, as part of the overall fiscal policy is of great importance for every economy. Tax systems vary from country to country, but what they all have in common is their complexity. In Croatia, the tax system is indeed complex, there are relatively high tax rates, and we have witnessed the frequent changes in tax laws. Tourism is very important economic activity for Croatia, promising and showing a lot of potential for achieving better and more positive results from season to season. However, tourism is burdened with taxes that discourage foreign and domestic investors. Due to the abundance of unused natural, historical and cultural beauty these investors are prepared to invest in Croatia and further present it in positive light on the international market as a desirable tourist reciving country. The first part of this thess begins with defining the concepts of the tax system and taxes, as well as the presentation of the tax system and current tax rates in Croatia. It gives an insight into the impact of tourism on the Croatian economy and the application of the tax system in the derived economic structure. Furthermore, it shows some positive and negative elements of the tax policy in the realization of investment in tourism, both overall, and in certain segments of tourism. Moreover, it analyses the impact of fiscalization on reuction of the gray economy in tourism and its results achieved so far. After that, by using some practical examples it is evident how tax policy affects the individual project or investment, but also on their implementation. Tax policy is one of the key elements in attracting and realization of investment, so it is important that it suits investors, businesses, and also to raise public revenues