Croatia: no transactions in the first eight months of the year

It is more than interesting that in Croatia there was no completed transaction in the retail sector in the first eight months of 2011. Statistics forecast a contraction, followed by stagnation in the retail sector in 2011. The size of the market will not go beyond the HRK 47 billion level by 2013. Our view is that the number of transactions might grow moderately in 2011. Recommendations for the retail sector: 20-percent corporate tax, 10-percent VAT on certain periodicals and magazines.