[1] On that date in 1995 the Croatian Army took the city of Knin during Operation Storm, which effectively brought an end to the Republic of Serbian Krajina proto-state.

[3] The main celebration is centered in Knin where there are festivities commemorating the event, beginning with a mass and laying of wreaths in honour of those who died in the war, and continuing with parades and concerts.

[5] A special military parade of the Armed Forces in honor of Victory Day was held on 4 August 2015 in Zagreb, celebrating the twentieth anniversary of Operation Storm.

[11] On the silver jubilee in 2020, the celebrations were attended for the first time ever by an ethnic Serb political representative, Deputy Prime Minister Boris Milošević, a move which was applauded across the political spectrum, with Prime Minister Andrej Plenković among others stating that it will "send a new message for Croatian society".

[13][12] Opposition to the move from the Deputy Prime Minister came from members of the political far-right such as the Homeland Movement and the Croatian Defence Forces, as well as from politicians from Serbia and entity Republika Srpska from Bosnia and Herzegovina.