NFCA press release regarding US-Croatia double taxation

This press release from the National Federation of Croatian Americans may be of interest to our US readers:


 

“US Congressman David Joyce (R-OH) and the National Federation of Croatian Americans (NFCA) Request a Response from the US Department of the Treasury on the Establishment of a Double Taxation Treaty with the Republic of Croatia” 

July 14, 2014For Immediate Release from Washington:

US Representative David Joyce of Ohio, a Co-Chair of the Congressional Croatian Caucus, sent a letter to US Secretary of the Treasury Jacob Lew on June 10 requesting the Department respond to an earlier letter from NFCA President Paul Tonsetic-Kunder concerning a bilateral treaty with the Republic of Croatia on the matter of double taxation.  Congressman Joyce’s letter is attached to this press release.

The US has established nearly 70 treaties with other allies around the world on double taxation.  It is time for Americans, in particular supportive Croatian Americans, not to be taxed twice on income and other assets derived from investments, trade, and real estate transactions in Croatia.  President Tonsetic-Kunder commented on this significant economic issue for both countries:  “As Americans trade and travel to Croatia, and as American residency rates increase with Croatia, the issue of double taxation becomes a major barrier to expanded economic activity between our two countries.  We at the National Federation of Croatian Americans are concerned that our constituency will continue to be severely impacted without an efficient establishment of such a bilateral treaty.  The NFCA will do all possible to assist the achievement of this important international goal.”

Congressman Joyce expressed to Secretary Lew in his letter:  “I have become acutely aware of the economic benefits to both countries of improving bilateral economies of scale between Croatia and the US.  As the Secretary well knows, Croatia is a new member of both NATO and the EU, and has become an important ally of the US in South Central Europe.  This relatively new nation-state has achieved significant economic growth since the end of the difficult ‘homeland wars’ in the Balkans during the 1990s.”

It is anticipated an efficient response to the Congressman’s inquiry will provide needed information and related data for appropriate US federal agency response and a ready push for treaty development.  As Mr. Tonsetic-Kunder remarked:  “As proud Americans of Croatian descent, we want to avoid barriers that would prohibit free exchange between our two countries while fully respecting the regulations regarding international transfers of goods and services.”

The NFCA is the national umbrella organization established in 1993 for Croatian Americans, related professional associations, and the many fraternal lodges that collectively represent approximately 130,000 members. For individual membership and chapter information, recent newsletters, opportunities to donate to the NFCA, and for other Croatian American news please visit our web site:  www.nfcacf.org.  You may also contact NFCA Public Affairs Director Joe Foley in Washington regarding this press release via info@foleycoinc.com.

 

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