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Zagreb - Parliament on Friday adopted a law whereby as of 3 June physical entities are obliged to declare cash of €10,000 or more which they carry to and from the European Union.
Amendments to the Foreign Exchange Operations Act, which were made to ensure the implementation of an EU directive that enters into force on 3 June this year, introduce new checks for the transfer and obligation to declare cash of €10,000 or more that is being taken out of or into the EU.
The new regulation extends the definition of cash to cover not only banknotes, coins and bearer negotiable instruments but also commodities used as highly liquid stores of value such as gold. Cash sent by post, freight or courier shipment is also included in the scope of the regulation.
Customs officer and border police shall be authorised to conduct these checks.
The Customs Administration shall be authorised to temporarily withhold undeclared cash, or if there is any suspicion that it may be connected to criminal activities regardless of the amount.
Anyone forgetting to report the prescribed amount will be liable to a fine that cannot be more than 60% of the value of the undeclared cash.
Parliament amended the Law on Inspections in Education abolishing the possibility of anonymous complaints against teachers and any complaints in future will have to submitted notifying the name and surname of the petitioner, which will be kept confidential.
Amendments to the Law on Bio-Fuels for Transport and the Law on Promoting Clean Vehicles in Road Transport were also adopted with the aim of increasing the share of renewable energy sources in transport.
Sabor will sit again on 19 May, after the local elections on 16 May.