As of January 1, 2023, Croatia has officially adopted the euro as its sole legal tender, becoming the 20th member of the euro area. The kuna, which has been the national currency of Croatia since 1994, is no longer used as a legal tender.
The dual display started on September 5, 2022, and will last until December 31, 2023, covering a period of four months before and after the introduction of the euro.
However, from January 1st, 2024, prices on receipts, invoices, and in both online and physical stores will only display prices of goods and services in euros. There will be no need to display the corresponding price in kuna or the conversion rate.
Reminder on the end of the dual display of prices in Kuna and Euro in Croatia
Public
Croatia
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
1229
Content accuracy validation date:
24.11.2023
Content accuracy validation time:
11:53h
The transition to the euro marks the end of a year-long process that began on July 12, 2022, when the Council of the European Union approved Croatia's accession to the euro area and determined the fixed conversion rate of 7.53450 kuna per euro. Since then, Croatia has implemented various measures to ensure a smooth and successful changeover, such as minting and distributing euro coins, frontloading and sub-frontloading euro banknotes and coins to banks and retailers, issuing euro starter kits to the public and businesses, and launching a comprehensive communication campaign to inform and educate citizens and stakeholders about the benefits and challenges of the euro.
One of the key measures that Croatia has adopted to protect consumers and prevent price abuses during the changeover was the mandatory dual display of prices in both kuna and euro. The dual display started on September 5, 2022, and will last until December 31, 2023, covering a period of four months before and after the introduction of the euro. The dual display applied to all goods and services, as well as to wages, pensions, taxes, and other monetary statements of value. The exchange rate had to be shown in a clear and visible way when displaying prices, and any price increase tied to the changeover was forbidden.
In short, from January 1st, 2024, prices on receipts, invoices, and in both online and physical stores will only display prices of goods and services in euros. There will be no need to display the corresponding price in kuna or the conversion rate.
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