Investments. Investment tax credit (most important)

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Investments. Investment tax credit (most important)

Lecture notes, cheat sheets

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INVESTMENT TAX CREDIT

To finance investment projects, enterprises can use an investment tax credit, which is a tax deferral. An investment tax credit can be granted on the profit (income) tax of the enterprise and on regional, local taxes. The investment tax credit is provided on the terms of urgency, repayment and payment. The term for granting an investment tax credit is from 1-5 years. Interest for using an investment tax credit is set at a rate of 50-75% of the refinancing rate of the Central Bank of the Russian Federation.

The tax credit is provided for the following purposes:

1) to carry out scientific, technical and development work or technical equipment of own production. In this case, an investment tax credit is provided in the amount of 30% of the cost of equipment used for present purposes;

2) for the implementation of promotional or innovative activities, the creation of new or modernization of applied technologies, the creation of new types of raw materials or materials;

3) for the organization to carry out a particularly important order for the socio-economic development of the region or to provide it with particularly important services to the population.

In the last two cases, the amount of the investment tax credit is determined by agreement between the taxpayer and the authorized body. An investment tax credit is provided based on an application from the borrower's enterprise and the necessary documentation confirming the need for the loan.

If a positive decision is made, an agreement on an investment tax credit is concluded between the authorized body and the taxpayer organization. Its form is established by the executive authority that makes the decision to allocate a loan.

The investment tax credit agreement provides for: the duration of the agreement; amount of credit; interest rate for using credit resources; the procedure for repaying the loan and accrued interest on the loan; conditions for ensuring repayment of the loan (collateral or guarantee agreement); liability of the parties; procedure for terminating the contract.

A copy of the concluded investment tax credit agreement shall be submitted by the taxpaying organization to the tax authority at the place of its registration within five days. A taxpaying organization can simultaneously receive several investment tax credits if the investment projects it implements meet the requirements. The presence of an investment tax credit cannot serve as a basis for refusing to receive a new one.

Author: Kuznetsova S.A.

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