Z. Marić responded to Valamar’s announcement: Enough with the blackmail, there are no fiscal uncertainties

Finance Minister Zdravko Marić stated on Thursday that enough is enough with the blackmail and that he sees no fiscal uncertainties, responding to a journalist’s question about Valamar’s recent announcement to withdraw from investments due to uncertain fiscal policy.

The tourism company Valamar Riviera announced on Tuesday that it is postponing investments in the Pinia accommodation facilities in Poreč and projects planned for 2018 due to uncertain fiscal policy for investors in tourism.

>>>Valamar postponed investments also due to uncertain application of the real estate and tourist land laws

– I will ask one question: What fiscal uncertainties? This Government has managed to consolidate public finances and for the first time we have reduced public debt, we have reduced the tax burden by more than 2 billion kuna, especially in corporate tax and income tax, and we have also maintained the reduced rate on organized accommodation. Therefore, I do not see what fiscal uncertainty they are talking about. Enough with the blackmail and constant pressure on the Government, Marić responded to a journalist’s question before the Government session.

As he explained, if someone talks about fiscal uncertainties, they must precisely define what that means.

– If we have talked to them about the property tax, I do not see where such an announcement comes from now. They send such a message and now we have to explain to the public and investors about fiscal uncertainties in Croatia. What are those fiscal uncertainties?, Marić asked.

He emphasized that both he and the Minister of Tourism have been discussing with hotel representatives for a long time, and in response to a journalist’s remark that the property tax is questionable, Marić reiterated that the final judgment on the property tax will be known in the coming weeks.

– However, I do not see what is new in the property tax compared to their primary decision. In June, when they were making (the investment plan, editor’s note), the law was also in force, as it is today, there are no news; Marić stated.

>>>Valamar Riviera withdrew from investing in the Valamar Pinia Family Suites project in Poreč

In June, Valamar’s CEO Željko Kukurin announced that the company would invest 873 million kuna this year in more than 300 projects, and that by 2020, investments would reach 2 billion kuna.

On Tuesday, however, the company announced that it is postponing the investment in Valamar Pinia Family Suites planned for 2018 “due to uncertain fiscal policy for investors in tourism and challenges in preparing the necessary technical documentation.” It also stated that the final decision on investments for 2018 will be made at the end of November this year.