By looking at the latest announcement from the Tax Administration of the Republic of Croatia, being tracked for Covid-19 pandemic purposes, in the period from 24 Feb till 8 Nov 2020 the value of taxable invoices decreased by 17.18% YoY.
A higher frequency data is compiled by Croatian Tax Administration, a department of the Ministry of Finance, who stated that the value of taxable invoices dropped by 17.18% YoY (or HRK 25.43bn) in the period from 24 February till 8 November. Meanwhile total taxable invoices in the mentioned period amounted to HRK 122.57bn.
Drop in taxable invoices in wholesale and retail trade in the same period was only at 8.88% (or HRK 8.43bn) while drop in accommodation and food services was at 53.9% (or HRK 10.95bn).
The value of taxable invoices in the 1st week of November 2020, continued to drop in single digits (like the week prior). To be specific in the 1st week of November taxable invoices decreased by 8.32% YoY to HRK 3.03bn. Drop in taxable invoices in the wholesale and retail trade was relatively low at -3.67% YoY, while drop in accommodation and food services was at -29.51% YoY.
If we were to compare it on a WoW basis, the value of invoices has increased by 2.12% or HRK 62.94m.