Currently, almost all types of businesses use various lending mechanisms to modernize production, purchase new lots of raw materials, and make up for the lack of working capital. For loans, most often they apply to banks or other credit and financial institutions. Among other credit products, one can single out a special type of lending - investment tax credit, controlled by the state.
The concept of an investment tax credit is detailed in article 66 of the Tax Code of the Russian Federation. The peculiarity of this loan is that it looks more like a deferred payment than a traditional cash loan. That is, the recipient of such a loan does not actually receive any money from the state. He just starts paying taxes at a much lower rate.
The terms of an investment tax credit agreement are very similar to those of a regular loan. Only in a specific case, a loan is taken not from a bank or fund, but from the state.
An investment tax credit can only be taken by a legal entity. The fact is that if the company suddenly ceased to fulfill its obligations under the loan, all of its mortgaged property can be seized even without any court decision. If an individual ceases to fulfill his loan obligations, it is almost impossible to deprive him of his only home.
In the Tax Code, the state has clearly indicated what types of taxes an investment loan can be provided: these are income tax, local and regional types of taxes.
The term of investment tax crediting is from 1 to 5 years. In some cases, it can be provided for up to 10 years. It is believed that this will be enough to solve all the problems of a legal entity.
After a legal entity has entered into an agreement with the state for a certain period of time, for a certain period of time, this person may underpay the corresponding type of tax for a strictly specified amount or a strictly specified percentage. And this continues until the amount of all unpaid taxes is equal to the amount of the investment loan.
If several investment tax credits are active between the state and the organization at the same time, the accumulated amount of tax "arrears" is calculated separately for each loan.
It is worth paying attention to the fact that an organization or an enterprise will not be able to reduce their tax payments indefinitely. And it does not depend on the number of tax credits entered into. The government simply limited the maximum amount of tax reductions to ½ of the normal payment. That is, a legal entity will not be able to more than halve its payments to the budget.
To get an investment tax credit from the state, you need to collect an impressive package of documents proving the need for such a loan. And even if the organization receives such a loan, during the entire period of the loan, it will have to submit detailed reports on all its financial activities. Moreover, tax services will check this organization much more often than usual. All this is necessary in order to control the spending of budgetary funds.
And it should also be borne in mind that if an investment tax credit is provided for income tax, the terms of the agreement will be determined by the state. If such a loan is provided for regional or local taxes, the terms of the loan will be dictated by the regional or local authorities, respectively.
