At the moment there are hardly any organizations that would not use in their work borrowed funds for modernization of production, replenish working capital and raw materials.Loans are usually made out in banking institutions of all kinds.However, there is a truly unique form of loans, which helps to solve the problem of lack of funds.We are talking about the phenomenon of investment tax credits.They are run by the state.It is to understand what it is.
General characteristics
In accordance with the Tax Code, adopted in Russia, the investment tax credit - it is not a loan, but a kind of deferred payment.They do not provide the actual receipt of funds the company, but only the possibility of execution of the payment of taxes to the government in much smaller size.Credit conditions for the most part repeat the conditions under which the borrowings are issued by different credit institutions, namely banks and stock agencies.The agreement in this case is a public entity.
Like conventional bank loans, investment tax credits mean that there is a certain period of the loan, in this case it will be charged interest, they are often very small, and the dates of its repayment.In addition, the contract is determined by the material liability for non-payment and provides a guarantee that both parties will be fulfilled their obligations.
Features
Quite often tax debts observed not only in the large-sized companies, but also for individual companies, which also need support in resolving problems with the budgetary payments.However, investment tax credits - is something that is available only to legal entities.This feature is in principle kreditozaemschika property liability to the creditor.The organization may withdraw all of the mortgaged property, even without a court decision.And to deprive an ordinary citizen of his property is virtually impossible in a similar situation.The Civil Code of the Russian Federation clearly defined points for the protection of private property, especially if it is necessary for the permanent residence.
Goals lending
investment tax credit may be granted to the organization, for example, for the repayment of income tax.If you violate the terms of its payment by the state often imposed a variety of sanctions, penalties and fines.That is why in order to avoid having to pay substantial sums to the treasury funds, is required not to violate the terms of payment of taxes.Investment tax credits can be used in such a long list of objectives, which is taken care of state.Together with the tax on profits made lending to regional and local budget payments.
Action
Investment tax credits as well as other types of loans have their specific mechanism of action by which the organization as mentioned above, can reduce the payments for the previous period.A contractual relationship between the parties will be completed when the amount of unpaid taxes will be released on the same level with the loan amount.Such an agreement with the looks as allowing for the presence of state debt.The organization has no right to reduce the payments indefinitely.The government has set a limit of 50% of the total tax amount paid under normal conditions.Investment tax credits include the time frame for all other traditional loans.And here we are talking about most banking products.The investment tax credit is granted for a period of 1-5 years.Typically, this time is enough to solve the financial problems of the organization.
Features of
investment tax credit can be given to any organization, while there are cases when a company receives a certain period of loss must either pay less tax than expected.In this case, a so-called excess credit.Because of this situation very easy to get out - all the savings you want to transfer to the next period.
Despite the fact that an investment tax credit may be granted for a period of 1-5 years, all this time the tax authorities rather scrupulously controlled organization that issued it.It not only has to prepare a very solid rationale for such a reduction in the amounts of payments of taxes, but also to provide for the whole of the loan, a detailed report on the financial activities.In addition, the organization will constantly check tax, much more often than usual.It is quite natural, because the state is aimed at strict control of expenditure from the budget.
Subtleties of
investment tax credit is a good opportunity for the taxpayer within the prescribed period to reduce their tax payments to a certain extent, in the future to make payments in stages not only the loan but also the interest accrued on it.This type of loan is provided for income tax, as well as some local and regional.
investment tax credit may be granted for income tax organization.At the same time the organization has got it, have the right to reduce their tax payments during the term of the contract.The reduction will be made for the corresponding tax at each payment.Do this for as long as the money is not paid by the company due to such reductions, it is equal to the amount of the loan, which was granted under the contract.The document itself provides all the points relating to the specific order to reduce tax payments.
Several contracts
If a company has several contracts concluded for the respective loan period of validity at the time of the next payment has not expired, for each of them separately will be determined by the cumulative amount of the loan.Its increase thus produced in order, starting with the agreement, which was concluded first after reaching the amount of the document established outside the organization will be able to increase the accumulated amount for the next contract.
Despite the fact that an investment tax credit may be granted for income tax, the amount can not exceed half of the total tax.If the amount of savings on the loan exceeded the 50%, the difference between the amount received and the maximum allowable transferred to the next period of the formation of statements.In the event that for a particular reporting period, the organization has had losses resulting, then the excess accumulated amount transferred to the next period, but at the same time recognizes the accumulated credit amount in the first reporting period.
Who can?
In accordance with Article 67 of the Tax Code investment tax credit may be granted if the company meets certain requirements:
- The organization is engaged in research, development activities and technical re-equipment of its production, including aimed at creating jobs forpeople with disabilities, as well as to protect the environment from contamination with industrial wastes.In this situation, investment tax credits are available for an amount that is 30% of the cost of purchased equipment for all of these purposes.
- For organizations that are innovative or innovative activities, including those involved in the creation of new, or improvement of applied technologies, the creation of new kinds of materials or raw materials.In this case, investment tax credits may be provided on the amounts to be negotiated and the organization of the competent authority.
- For organizations that are engaged in the implementation of orders for socio-economic development of particular importance, as well as providing very important services to the civilian population.In this case, the loan amount will also be determined by the results of the parties' agreement.
contract item in the contract or loan agreement is required to contain the following items:
- order, respectively, which will reduce the tax payments;
- amount of the loan;
- an expiry date;
- an indication of the tax, which will be granted on a loan described;
- the amount of interest that will be earned on the amount of the loan;
- order of repayment;
- responsibility of the parties.
Related documents
Investment tax credits will not be granted if the issue is not secured on property or surety agreement.In this connection, it is required to apply to the contract documents on the property, which will serve as collateral.In addition, the contract must specify the provisions on the avoidance of his actions during the transfer into the possession or sale of the equipment or the rest of the property, if the acquisition was one of the items to be described by the organization of credit.
Conclusions In relation to local or regional tax authorities to set their own conditions for the provision of investment tax credit.This legislation allowed to set their own conditions for granting the loan and the reasons for this, and also allowed to change the terms of the loan.
