A special form of changing the deadline for fulfilling a tax obligation is an investment tax credit, which differs from a deferral, installment plan by specific grounds for granting, the deadline for transferring tax payments, the rules for accumulating and paying off tax debts and interest due for using the loan.

An investment tax credit can be granted for corporate income tax, regional (organizational property tax, gambling tax, transport tax) and local taxes (land tax) for a period of one to five years, in some cases up to 10 years.

An organization that has received an investment tax credit is entitled to reduce its payments on the relevant tax during the term of the investment tax credit agreement.

The reduction is made for each payment of the relevant tax, for which an investment tax credit is granted, for each reporting period until the amount not paid by the organization as a result of all such reductions (the accumulated credit amount) becomes equal to the credit amount provided for by the relevant agreement. The specific procedure for reducing tax payments is determined by the concluded agreement on investment tax credit.

For additional clarifications on the issue of obtaining an investment tax credit, please contact the relevant

The information below depends on your region ( 09 Karachay-Cherkess Republic)

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There is no practice of granting an investment tax credit on the territory of the Karachay-Cherkess Republic due to the lack of applications from taxpayers.

Let us explain that an investment tax credit is a kind of deferred tax payments, embodying one of the forms of changing the tax payment deadline.

An investment tax credit is not only one of the forms of changing the tax payment deadline, but at the same time one of the forms of budget lending. The essence of this loan is that for some time the amount of tax is reduced by the amount of investment. The decision on its provision is made before the deadline for the fulfillment of the tax obligation.

An investment tax credit can be granted for income tax, regional (property tax, gambling tax, transport tax) and local taxes (land tax) for a period of one to five years.

In fact, a taxpayer who has been granted an investment tax credit reduces tax payments within a certain period, and then gradually pays the loan amount and interest on it.

The reduction is made for each reporting period until the amount not paid by the institution as a result of all reductions (accumulated loan amount) becomes equal to the loan amount stipulated by the relevant agreement.

The bodies authorized to take decisions on changing the deadlines for paying corporate income tax at the tax rate established for crediting the said tax to the budgets of the constituent entities of the Russian Federation, and regional taxes in the form of an investment tax credit, are the bodies authorized to do so by the legislation of the constituent entities of the Russian Federation.

Decisions to change the terms of payment of local taxes in the form of an investment tax credit are made by the department of the Federal Tax Service of Russia for the constituent entity of the Russian Federation at the location (place of residence) of the person concerned in agreement with the relevant financial authorities of the constituent entities of the Russian Federation, municipalities.

In accordance with the Federal Law of March 30, 2012 N 19-FZ, amendments were made to Article 67 of the Tax Code of the Russian Federation on investment tax credit.

The change consists in the fact that now, not only in relation to regional taxes, but also in relation to corporate income tax in terms of the amount of tax to be credited to the budgets of the constituent entities of the Russian Federation, the laws of the constituent entities of the Russian Federation may establish other grounds and conditions for granting an investment tax credit, including the duration of the investment tax credit and interest rates on the amount.

It seems that empowering the constituent entities of the Russian Federation with the authority to establish additional grounds and conditions for granting an investment tax credit for the part of corporate profit tax credited to their budgets should expand the scope of this investment support tool and allow for a wider use of the investment tax credit along with other forms of support for investment activities. .

The procedure and conditions for granting an investment tax credit are established by Article 67 of the Tax Code of the Russian Federation.

The law of the subject of the Russian Federation and the regulatory legal acts adopted by the representative bodies of local self-government for regional and local taxes, respectively, may establish other grounds and conditions for granting an investment tax credit, including the validity period of the investment tax credit and interest rates on the loan amount.

An investment tax credit is provided on the basis of an application of an organization and is formalized by an agreement in the established form between the relevant authorized body and this organization. When concluding an agreement on an investment tax credit, the procedure for repaying the amount of this loan is determined within the period for which such a loan is granted in accordance with the agreement.

The termination of a deferral, installment plan or investment tax credit is established by Article 68 of the Tax Code of the Russian Federation.

The Karachay-Cherkess Republic has not yet issued regulatory legal acts that determine the procedure for granting an investment tax credit for regional taxes. Therefore, the taxpayers of Karachay-Cherkessia should be guided by the Federal Law of March 30, 2012 N 19-FZ, which amended Article 67 of the Tax Code of the Russian Federation on investment tax credit.

Materials of the workshop "The practice of commercial evaluation and examination of investment projects". Section "Granting an investment tax credit".

This material is an integral part of the methodological materials as part of the Alt-Invest-Prim software package.

The concept of an investment tax credit

An investment tax credit is such a change in the tax payment deadline, in which an organization, if there are grounds specified in the Tax Code, is given the opportunity to reduce its tax payments within a certain period and within certain limits, followed by a phased payment of the loan amount and accrued interest.

Loan conditions

An investment tax credit may be granted to an organization that is a taxpayer of the relevant tax, if at least one of the following grounds exists:

1. carrying out by this organization of research or development work or technical re-equipment of its own production, including those aimed at creating jobs for the disabled or protecting the environment from industrial waste pollution;
2. the implementation by this organization of implementation or innovation activities, including the creation of new or improvement of applied technologies, the creation of new types of raw materials or materials;
3. fulfillment by this organization of a particularly important order for the socio-economic development of the region or the provision by it of especially important services to the population.

The amount of the loan

Investment tax credit can be granted on corporate income (income) tax, as well as on regional and local taxes.

Investment tax credit is granted:

1. on the grounds specified in subparagraph 1) - in the amount of the loan, which is 30 percent of the cost of the equipment acquired by the interested organization, used exclusively for the purposes listed in this subparagraph;
2. on the grounds specified in subparagraphs 2) and 3) - for the loan amounts determined by agreement between the authorized body and the organization concerned.

In each reporting period (regardless of the number of investment tax credit agreements), the amounts by which tax payments are reduced may not exceed 50 percent of the corresponding tax payments determined according to general rules without taking into account the existence of investment tax credit agreements. At the same time, the amount of credit accumulated during the tax period cannot exceed 50 percent of the amount of tax payable by the organization for this tax period. If the accumulated amount of the loan exceeds the limits by which the tax reduction established by this paragraph is allowed for such a reporting period, then the difference between this amount and the maximum allowable amount is transferred to the next reporting period.

An organization that has received an investment tax credit is entitled to reduce its payments on the relevant tax during the term of the investment tax credit agreement.

The reduction is made for each payment of the relevant tax, for which an investment tax credit is granted, for each reporting period until the amount not paid by the organization as a result of all such reductions (the accumulated credit amount) becomes equal to the credit amount provided for by the relevant agreement. The specific procedure for reducing tax payments is determined by the concluded agreement on investment tax credit.

If an organization has entered into more than one investment tax credit agreement that has not expired by the time of the next tax payment, the accumulated credit amount is determined separately for each of these agreements. At the same time, the increase in the accumulated loan amount is made first in relation to the first contract by the term, and when this accumulated loan amount reaches the amount provided for by the specified agreement, the organization may increase the accumulated loan amount under the next agreement.

If the organization had losses based on the results of individual reporting periods during the tax period or losses based on the results of the entire tax period, the excessively accumulated credit amount following the results of the tax period is transferred to the next tax period and is recognized as the accumulated credit amount in the first reporting period of the new tax period.

Terms and cost of the loan

An investment tax credit can be granted for a period of one to five years.

Interest on the loan amount is determined at a rate not less than one-half and not more than three-fourths of the refinancing rate of the Central Bank of the Russian Federation.

The law of the subject of the Russian Federation and the regulatory legal acts adopted by the representative bodies of local self-government for regional and local taxes, respectively, may establish other grounds and conditions for granting an investment tax credit, including the validity period of the investment tax credit and interest rates on the loan amount.

Making a decision on granting an investment tax credit

The decision to grant an investment tax credit for the profit (income) tax of an organization in the part that goes to the budget of a constituent entity of the Russian Federation is made by the financial authority of the constituent entity of the Russian Federation.

An investment tax credit is provided on the basis of an application of an organization and is formalized by an agreement in the established form between the relevant authorized body and this organization.

An agreement on an investment tax credit should provide for the procedure for reducing tax payments, the amount of the loan (indicating the tax for which the organization was granted an investment tax credit), the term of the agreement, interest accrued on the loan amount, the procedure for repaying the loan amount and accrued interest, documents on property, which is the subject of a pledge, or a guarantee, the responsibility of the parties.

The form of the investment tax credit agreement is established by the executive authority that makes the decision to grant the investment tax credit.

Basic documents required to consider the issue of granting a loan:

1. taxpayer's statement;
2. Business - investment project plan;
3. Data on the expected timing and sources of repayment of the investment tax credit;
4. Calculation of the tax for which it is possible to provide an investment tax credit, certified by the tax inspectorate;
5. Balance sheet with an attached Profit and Loss Statement for the previous reporting period and based on the results of the year preceding the receipt of the investment tax credit;
6. Documents on property that is the subject of pledge or surety;
7. Certificate from the tax inspectorate on the absence of debts on current payments to the city budget;
8. Copies of the constituent documents of the taxpayer, certified by a notary, or by the body that registered the organization (Charter, memorandum of association, certificate of registration, protocol on the appointment of a director);
9. Calculation of budget efficiency in the implementation of an investment project.

Legal regulation of the issue

Tax Code of the Russian Federation, Chapter 9, Articles 62, 64, 65, 66, 67

Calculation of the effectiveness of providing an investment tax credit

It is logical to assess the feasibility of providing an investment tax credit based on consideration of the increase in tax revenues associated with the implementation of the project.

In terms of budget:

• expenses are the amounts of revenues not received by the budget (the amount of benefits provided);
• Income is additional income from all taxes that arose as a result of the project, as well as the amount of interest paid by the borrower.

year 2001

The Rostov mobile operator Dontelecom announces that the Governor of the Rostov Region has signed the Decree “On the provision of an investment tax credit to JSC Dontelecom” in the amount of 17.1 million rubles.
This resolution operates within the framework of the implementation of the concept for the development of communications in the Rostov region, and aims to develop cellular communications of the GSM-900 standard in the northern and eastern regions of the region.

The Rostovelectrosvyaz company announced that the Ministry of Finance of the Rostov region has provided it with a tax investment credit.
Under the terms of the agreement signed by the company and the ministry, the Rostov operator has reduced the amount of payment for income tax for 9 months, which falls on the share of the regional budget. According to calculations, the loan amount will be 17 million rubles (profit for 2001 - 210 million rubles). Rostovelectrosvyaz should use these funds only for the implementation of the project for the reconstruction and development of rural telephone communications in the Rostov region. Namely, villages and farms of the Donetsk region.

Practical example

The bakery of the developing region plans to implement a project to modernize and expand production, which will optimize the structure of production (sales) in the direction of increasing high-quality and bakery products, increase the range of products offered, and ensure high quality products.

The current technical condition of the enterprise does not allow satisfying the demand of the population of the region for a wide range of high quality products.

According to experts, the demand for bakery products exceeds the capacity and assortment capabilities of the existing bakery. An increase in demand from schools for bakery products is expected, a large amount of construction work is underway in the district - there are many visitors, there is a need for a variety of supplies of rye-wheat bread, in the summer, bakery products are sold on open stalls. There are applications for the supply of bakery products from the enterprises of the region, nearby settlements.

The project involves:

• partial replacement of existing bakery equipment with modern, high-performance equipment;
• organization of production of confectionery products on the basis of a new workshop.

Investment costs are supposed to be financed partly at the expense of own funds from the current activities of the enterprise, partly at the expense of a borrowed loan in the amount of 7,400 thousand rubles. worth 24% per annum in rubles. The validity period of the loan agreement set by the bank is 2 years from the start of the project. The bank's requirement is to repay the loan in equal installments within 6 months with quarterly interest payments.

To ensure the financial viability of the project (repayment of the loan in the established volumes and terms), the company applies for an investment tax credit for income tax for a period of 1.5 years.

Initial data:

Investment costs (includes the development of a technical project for the construction of a workshop, the construction of an object, the acquisition and commissioning of equipment, the acquisition of an additional fleet of vehicles for the delivery of finished products to consumers, the formation of working capital.	RUB 9,600 thousand (including VAT), 8,000 thousand rubles. excluding VAT
Duration of the investment phase	6 months
Actual amount of taxable income	2800 thousand rubles in year
Investment tax credit for income tax (no more than 2800 * 14.5% * 50% = 203 thousand rubles)	168 thousand rubles
Investment loan term	12 months
Investment loan interest rate	0.5*RF refinancing rate0.5*21%=10.5%

Preparation of information for assessing the budgetary efficiency of the project: additional tax revenues to the budget in connection with the implementation of the project

Additional tax revenues to the budget	Change in tax base
Road user tax	Change in Revenue	RUB 1,634 thousand/quarter
income tax	Change in Profit (take into account the decrease in taxable profit when taking out a loan)	361 thousand rubles/quarter
Payroll accruals	Changing Labor Costs	115 thousand rubles/quarter
Property tax	Change in the amount of stocks of raw materials and materials, work in progress, finished products in stock Residual value of acquired fixed assets	On average, 288 thousand rubles. The book value of the acquired assets is 8,000 thousand rubles, the depreciation rate is 7%
value added tax	Additional VAT to the budget for current activities = VAT on additional revenue - VAT on additional costs (take into account the refund of VAT paid on fixed assets)	82 thousand rubles/quarter VAT paid on permanent assets RUB 1,600 thousand

Another form of financing the activities of entrepreneurial firms is an investment "tax credit. In accordance with Article 66 of the Tax Code of the Russian Federation, an investment tax credit is such a change in the tax payment period in which
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the organization, if there are appropriate grounds, is given the opportunity, within a certain period and within certain limits, to reduce its tax payments, followed by a phased payment of the loan amount and accrued interest. This loan can be granted to an entrepreneurial firm for income tax, as well as for regional and local taxes for a period of 1 to 5 years.
An investment tax credit may be granted to a taxpaying firm in the following cases:

• when this company conducts research or development work or technical re-equipment of its own production, including those aimed at creating jobs for the disabled or protecting the environment from industrial waste pollution;
• in the implementation by this company of implementation or innovation activities (including the creation of new or improvement of applied technologies, the creation of new types of raw materials or materials);
• if this company fulfills a particularly important order for the socio-economic development of the region or provides especially important services to the population.

An investment tax credit is provided on the basis of an application from an entrepreneurial firm and is formalized by an agreement in the established form between the firm and the financial authority of a constituent entity of the Russian Federation. The decision to grant an investment commercial loan is made within 1 month from the date of receipt of the application. At the same time, an entrepreneurial firm has the right to conclude several investment tax credit agreements at the same time.
An agreement on an investment tax credit must contain the following information: the amount of the loan (indicating the tax for which this loan is granted); term of the agreement, accrued interest on the loan amount; the procedure for repayment of the loan amount and accrued interest; documents on the property that is the subject of pledge, or a surety; the responsibility of the parties.
In addition, this agreement must contain provisions in accordance with which, during the term of its validity, the sale or transfer to possession, use or disposal of equipment or other property to other persons, the acquisition of which by the company was a condition for the provision of an investment tax credit, is not allowed, or the agreement must the conditions for such implementation to be determined. A copy of the agreement must be provided by the business firm to the tax authority at the place of its registration within 5 days from the date of conclusion of the agreement.
A company that has received an investment tax credit has the right to reduce its tax payments during the term of the investment tax credit agreement. In this case, the reduction is made for each payment for each reporting period until the amount not paid by the company as a result of all such reductions (the accumulated loan amount) becomes equal to the loan amount specified in the relevant agreement.
In the event that a company has entered into more than one investment tax credit agreement, the validity of which has not expired by the time of the next tax payment, the accumulated credit amount is determined separately for each of these agreements. At the same time, the increase in the accumulated loan amount is made first in relation to the first contract in terms of the term of the conclusion, and when this accumulated loan amount reaches the amount provided for by the specified agreement, the company can increase the accumulated loan amount under the next agreement.
Regardless of the number of investment tax credit agreements, in each reporting period, the amounts by which tax payments are reduced cannot exceed 50% of the corresponding tax payments, determined without taking into account the existence of these agreements. At the same time, the amount of credit accumulated during the tax period cannot exceed 50% of the amount of tax payable by the company for this tax period.
In the case of R&D carried out by an entrepreneurial firm, an investment tax credit is granted in the amount of 30% of the value of the equipment purchased by the firm, which is used exclusively for R&D or technical re-equipment. In other cases, an investment tax credit is granted for amounts determined by agreement of the parties when concluding an investment tax credit agreement.
Interest on the loan amount is set at a rate not less than "/2" and not exceeding 3/4 of the refinancing rate of the Central Bank of the Russian Federation.

At the moment, there are almost no organizations that would not use in their activities for production modernization, replenishment of working capital or raw materials. Loans are usually issued in banking institutions of various kinds. However, there is a truly unique type of lending that can solve the problem of lack of funds. Here we are talking about such a phenomenon as investment tax credits. They are under the control of the state. You have to figure out what it is.

general characteristics

In accordance with the Tax Code adopted in the Russian Federation, an investment tax credit is not a loan, but a kind of deferred payment. It does not provide for the actual receipt of funds by the organization, but only the registration of the possibility of paying taxes to the state in a noticeably smaller amount. for the most part, they repeat the conditions under which loans are issued by various credit institutions, namely banks and fund organizations. The agreement is concluded with the state structure.

Like regular bank loans, investment tax credits have a fixed period of validity, interest, often very low interest, and maturity dates. In addition, the contract defines property liability for non-payment, and also provides for a guarantee that both parties will fulfill their obligations.

Peculiarities

Quite often, tax debts are noted not only in large companies, but also in individual enterprises, which also need support in resolving problems with budget payments. However, investment is something that is available only to legal entities. This feature consists in the principles of property liability of the borrower to the creditor. All pledged property can be withdrawn from the organization even without a corresponding court decision. And to deprive an ordinary citizen of his housing is almost impossible in a similar situation. The Civil Code of the Russian Federation clearly spells out the points for the protection of private property, especially if it is necessary for permanent residence.

Purpose of lending

An investment tax credit can be granted to an organization, for example, to pay off income tax. In case of violation of the terms of its payment by the state, various sanctions, penalties, and fines are often imposed. That is why, in order to avoid the need to pay significant amounts of funds to the treasury, it is required not to violate the deadlines for paying taxes. Investment tax credits can be used for a not so extensive list of purposes, which the state has taken care of. Together with income tax, regional and local budgetary payments are credited.

Action

Investment tax credits, like others, have their own specific mechanism of action, with the help of which an organization, as mentioned above, can reduce payments for the past period. And the contractual relationship between the parties will be completed when the amount of underpaid tax reaches the same level as the loan amount. Such an agreement from the outside looks like permission from the state to have debts. The organization does not have the right to reduce payments indefinitely. The government has set a limit of 50% of the total tax payable under normal circumstances. Investment tax credits have a time frame that is traditional for all other loans. And here we are talking about most banking products. The investment tax credit is granted for a period of 1-5 years. Usually this time is enough to solve the financial problems of the organization.

Features of work

An investment tax credit can be granted to any organization, and there are cases when such a company receives losses in a certain period or has to pay less taxes than expected. In this case, there is a so-called surplus of credit resources. It is very easy to get out of this situation - all the savings must be transferred to the next period.

Despite the fact that an investment tax credit can be granted for a period of 1-5 years, all this time the tax authorities control the organization that issued it quite scrupulously. It must not only prepare a very solid justification for the need for such a reduction in tax payments, but also provide throughout the life of the loan detailed reports on the financial activities carried out. In addition, the organization will be constantly checked by the tax authorities, much more often than usual. This is quite natural, since the state is aimed at the strictest control over the spending of funds from the budget.

Process details

An investment tax credit is a good opportunity for a taxpayer to reduce their tax payments within certain limits within a specified period in order to make payments in stages not only of the loan itself, but also of the interest accrued on it in the future. This type of loan is available for income tax purposes as well as some local and regional loans.

An investment tax credit can be granted on corporate income tax. At the same time, the organization that received it has the right to reduce its tax payments during the validity of the contract. The reduction will be made for the corresponding tax on each payment. This is done until the funds not paid by the company due to such reductions are equal to the amount of the loan that was granted under the relevant agreement. The document itself provides for all the points regarding the specific procedure for reducing tax payments.

Several treaties

If the company has several concluded agreements for the provision of the corresponding loan, the validity of which has not expired at the time of the next payment, the accumulated loan amount will be determined separately for each of them. In this case, its increase is carried out in order, starting with the contract that was concluded first, after the amount on this document reaches the established limits, the organization will have the opportunity to increase the accumulated amount under the next contract.

While an investment tax credit may be granted on income tax, its amount cannot exceed half of the total amount of tax. If the amount of savings on the loan exceeded these 50%, then the difference between the amount received and the maximum allowable is transferred to the next reporting period. In the event that an individual organization had losses based on the results of its activities, then the excess accumulated amount is transferred to the next period, but at the same time it is recognized as an accumulated loan amount in the first reporting period.

To whom is it provided?

In accordance with article 67 of the Tax Code of the Russian Federation, an investment tax credit can be granted if the company meets certain requirements:

The organization is engaged in research, development work or technical re-equipment of its production, including those aimed at creating jobs for people with disabilities, as well as protecting the environment from industrial waste pollution. In such a situation, investment tax credits are granted in an amount that is 30% of the value of the purchased equipment intended for all specified purposes.

For organizations that conduct innovative or promotional activities, including those involved in the creation of new or improvement of applied technologies, the creation of new types of materials or raw materials. In this case, investment tax credits can be provided for amounts that will be negotiated by the organization and the authorized body.

For organizations that are engaged in the implementation of orders for socio-economic development of particular importance, as well as providing especially important services to the civilian population. In this case, the amount of the loan will also be determined by the results of the agreement of the parties.

Contract clause

The contract or agreement on the provision of a loan must contain the following items:

The order in accordance with which tax payments will be reduced;

Credit amount;

Validity;

An indication of the tax for which the described credit will be granted;

The amount of interest that will be charged on the loan amount;

Repayment procedure;

Responsibility of the parties.

Related Documents

Investment tax credits will not be granted unless a pledge on property or a guarantee agreement is issued. In this regard, it is required to attach to the contract documents about the property that will serve as the subject of collateral. In addition, the agreement must specify provisions to prevent, during its validity, the transfer of possession or sale of equipment or other property if its acquisition has become one of the points for providing the organization with the described loan.

conclusions

In relation to local or regional tax authorities, their own conditions for the provision of an investment tax credit are established. At the same time, the legislation is allowed to establish its own conditions for granting a loan and the grounds for this, as well as to change the allowable terms for the loan.

In accordance with Art. 68 of the Tax Code of the Russian Federation, the effect of innovative tax crediting (INC) is terminated upon the expiration of the relevant decision or agreement, by agreement of the parties or by a court decision.

This loan terminates early if the taxpayer pays the entire due amount of tax and duty, as well as the corresponding interest before the expiration of the established period.

If, during the term of the ITC agreement, the organization that concluded it violates the terms of the contract for the sale or transfer to possession, use or disposal of equipment or other property, the acquisition of which was the basis for granting the ITC, this organization, within 30 days from the date of termination of the ITC agreement is obliged to pay all previously unpaid tax amounts in accordance with the agreement, as well as the corresponding penalties and interest on unpaid tax amounts accrued for each day of the ITC agreement, based on the refinancing rate of the Central Bank of the Russian Federation that was in force for the period from the conclusion to the termination of the specified agreement.

Recall that in accordance with paragraph 1 of Art. 67 of the Tax Code of the Russian Federation, an ITC can be provided to an organization that is a taxpayer of the relevant tax.

INK, on ​​the basis of Art. 66 of the Tax Code of the Russian Federation, is such a change in the tax payment deadline, in which the organization, if there are grounds, is given the opportunity to reduce its tax payments within a certain period and within certain limits, followed by a phased payment of the loan amount and accrued interest.

On such grounds, according to Art. 67 of the Tax Code of the Russian Federation are:

• carrying out by this organization of research or development work or technical re-equipment of its own production, including those aimed at creating jobs for the disabled or protecting the environment from industrial waste pollution;
• the implementation by this organization of implementation or innovation activities, including the creation of new or improvement of applied technologies, the creation of new types of raw materials or materials;
• the fulfillment by this organization of a particularly important order for the socio-economic development of the region or the provision by it of especially important services to the population.

This loan can be granted both for corporate income tax, and for regional and local taxes, for a period of one to five years. An organization that has received this credit is entitled to reduce its payments on the relevant tax during the term of the investment tax credit agreement.

In the article by Antipina O. V. it is written that the reduction of tax payments for which the ITC is provided for each reporting period until the amount not paid by the organization as a result of all such reductions (the accumulated loan amount) becomes equal to the loan amount provided for in the relevant agreement. At the same time, it must be remembered that the specific procedure for reducing tax payments is determined by the concluded agreement on ITC.

In each reporting period, the amounts by which tax payments are reduced cannot exceed 50% of the corresponding tax payments, determined according to general rules, without taking into account the existence of ITC agreements. At the same time, the amount of credit accumulated during the tax period cannot exceed 50% of the amount of tax payable by the organization for this tax period.

ITC is provided on the basis of an application of an organization and is drawn up by an agreement of the established form between the relevant authorized body and this organization, which provides for the procedure for reducing tax payments; the amount of the loan (indicating the tax for which the ITC was granted to the organization); contract time; interest accrued on the loan amount; the procedure for repayment of the loan amount and accrued interest; documents about the property that is the subject of pledge.

The absence of tax debts and initiated criminal cases does not at all bring you closer to the “cherished loan”, because the only factor that visibly confirms your differences from other respectable borrowers is a business plan. Not only the very possibility of obtaining a loan, but also the future of your company for the entire term of the loan depends on the thoroughness, depth and realism of the preparation of this document. All future financial and economic activities of the borrower are further compared and evaluated (including by tax authorities) based on the parameters set and approved in the business plan.

Therefore, you should entrust the preparation of a business plan to experienced professionals. It should be especially taken into account that almost all administrations (regional and local) have a list of accredited consulting companies specially authorized to develop business plans. Such companies take into account all the "specifics of local requirements" for the document and for a "certain fee", often legal, they will help you agree on the main parameters of the business plan with the relevant committee, which practically guarantees an investment loan.

The established practice of accredited consulting companies does not exclude "market competition" at all. However, business plans prepared by non-accredited companies, naturally for a fee, are subject to mandatory “examination” by accredited consultants. Such requirements are established by internal orders of regional and local administrations interested in the availability of "specially authorized and professional" specialists in business planning.

Along with the requirements for the procedure for developing a business plan, the requirements for its content should also be taken into account.

Nechaev A.S. in his article refers to the content, requirements and form of the business plan established by the Decree of the Government of the Russian Federation of November 22, 1997 No. 1470 “On approval of the procedure for providing state guarantees on a competitive basis at the expense of the Development Budget of the Russian Federation and the Regulations on evaluating the effectiveness of investment projects when placed on a competitive basis of centralized investment resources of the Development Budget of the Russian Federation” .

In accordance with the specified Decree of the Government of the Russian Federation, the structure of the business plan is as follows:

1. Introductory part (summary of the project), describing the general characteristics, name, goals and evidence of its profitability;
2. Analysis of the state of affairs in the industry, a general description of the need for manufactured products and the volume of its production in the region (country, world - depending on the planned area of ​​product promotion). The significance of this production for the economic and social development of the region;
3. Production plan with a program for the production and sale of products;
4. A marketing plan that takes into account: the organization of sales and the qualitative characteristics of the sales network; justification of the volume of investments associated with the sale of products; calculation of sales and distribution costs;
5. The organizational plan consists of general information about the applicant, its legal status, the amount of the authorized capital;
6. The financial plan, which is the key section where the cost items for the project are detailed and the economic efficiency of the project is determined.

Along with the mandatory requirements established by federal law, the constituent entities of the Russian Federation and municipalities have the right to make additional requirements for a business plan that provides for an investment tax credit. As a rule, such requirements are issued in the form of a method of recommendations (for example, Decree of the Government of the Leningrad Region dated March 30, 1998 No. 11 “On approval of the methodology for calculating the payback period and the actual payback period of investments for the implementation of a preferential tax regime”).

Obtaining an investment tax credit

The procedure and conditions for submission, as well as the grounds and procedure for terminating the ITC are regulated by Articles 66, 67, 68 of the Tax Code of the Russian Federation, as well as other regulatory documents. The main "investment" points are shown in Table. one.

Table 1. The procedure and conditions for providing ITC

Criterion	Terms	Regulatory norm
Purpose of the loan	Stimulation of innovation and research activities in the Russian Federation
Recipient	Any legal entity	paragraph 1 of Art. 66 Tax Code of the Russian Federation
What taxes are issued	- for income tax; - for regional and local taxes
Credit term	From 1 to 5 years
Reasons for issuing a loan (at least one reason is enough)	1) carrying out research and development work by the firm; 2) implementation of implementation or innovation activities; 3) promoting the development of the region or providing the population with especially important services
Credit benefits	Possibility to reduce the relevant tax payments during the term of the investment tax credit agreement	paragraph 2 of Art. 66 Tax Code of the Russian Federation
Payment reduction procedure	The reduction is made for each payment of the relevant tax for which the investment tax credit is granted for each reporting period until the amount not paid by the company as a result of the reductions (accumulated loan amount) becomes equal to the amount of the loan under the agreement.	paragraph 2 of Art. 66 Tax Code of the Russian Federation
Restrictions	1. In each reporting period, the amounts by which tax payments are reduced may not exceed 50 percent of the corresponding tax payments determined in accordance with general rules, without taking into account the existence of investment tax credit agreements. 2. The amount of credit accumulated during the tax period cannot exceed 50 percent of the amount of tax that is payable by the company for this tax period	paragraph 3 of Art. 66 Tax Code of the Russian Federation
Interest	They are determined by agreement of the parties, but the amount of interest cannot be lower than 1/2 and higher than 3/4 of the refinancing rate of the Bank of Russia.	paragraph 6 of Art. 67 Tax Code of the Russian Federation
"Punishment" for violation of the terms of the contract	The company is obliged to pay penalties and interest on unpaid tax amounts accrued for each calendar day of the agreement (based on the refinancing rate of the Bank of Russia, which was in effect for the period from the conclusion to the termination of the specified agreement).	paragraph 8 of Art. 68 Tax Code of the Russian Federation

Grounds for obtaining a loan

Articles 66 and 67 of the Tax Code of the Russian Federation are devoted to the issues of obtaining and using ITC. It states that only an organization can receive an ITC for a period of 1 to 5 years. A loan can be granted under the tax on profit (income) of organizations, as well as under regional and local taxes. Reasons for obtaining a loan may be the following:

• carrying out by the organization of research or development work (R&D) or technical re-equipment of its own production, including those aimed at creating jobs for the disabled or protecting the environment from pollution by industrial waste;
• implementation by the organization of implementation or innovation activities, including the creation of new or improvement of applied technologies, the creation of new types of raw materials or materials;
• fulfillment by the organization of a particularly important order for the socio-economic development of the region or the provision by it of especially important services to the population.

Interest calculation.

The contract for the provision of ITC should provide for the procedure for returning the loan and interest for using it, and:

• a period is set during which the loan and interest on it will be returned;
• it is determined whether these will be monthly or quarterly payments;
• the repayment schedule is approved (before signing the contract for the provision of ITC, it is agreed with the Ministry of Finance of the Russian Federation, and, if necessary, can be clarified after the full accumulation of the loan amount).

Interest on the provided ITC is accrued until the full repayment of the loan amount and is repaid simultaneously with the repayment of the loan. In accordance with Art. 67 of the Tax Code of the Russian Federation, it is not allowed to set interest on the loan amount at a rate less than one-half and more than three-fourths of the refinancing rate of the Central Bank of the Russian Federation. Based on the instruction of the Bank of Russia No. 2369-U dated 25.12.2009 “On the size of the refinancing rate of the Bank of Russia” 8.75% per annum.

At the same time, the Letter of the Ministry of Taxation of the Russian Federation “On the Procedure for Calculating Interest on the Use of Budgetary Funds” can be taken as the basis for calculating interest for the use of budget funds when granting deferrals, installments for the payment of taxes and other obligatory payments.

The interest rate for ITC is set depending on numerous factors, which are based on:

• sources of repayment of this loan;
• pledge;
• liquidity of property or other means of the taxpayer;
• business plan;
• profitability;
• the need for the production of this type of product; the founders of this organization and their share of ownership.

The interest rate on the amount of ITC for regional taxes is set from one ten thousandth to three-fourths of the refinancing rate of the Central Bank of the Russian Federation.

The main differences between ITC and other forms of changing the deadline for paying tax payments.

1. ITC, unlike a tax credit, is targeted and is provided to encourage the investment activity of the recipient of the loan. Therefore, obtaining an ITC is associated with the need to incur certain costs (for example, for R&D).
2. Unlike deferment, installment payment of tax, the amount of interest on the loan does not depend on the basis for granting the ITC.
3. ITC is provided for tax on profit (income) of the organization and for regional and local taxes. For other forms of changing the deadline for paying tax payments, specific types of taxes are not defined in the Tax Code of the Russian Federation.
4. Significant is the difference in the subject of the loan. ITC is provided exclusively to organizations.
5. The presence of special rules for the accumulation and repayment of tax debts and interest.
6. Unlike a tax credit agreement, an ITC agreement specifies special conditions that restrict the right of an interested person to dispose of equipment or other property, the acquisition of which was a condition for granting an ITC.

For an initial understanding of the essence of tax crediting, it is necessary to determine the terminology. The Tax Code of the Russian Federation distinguishes two independent forms of deferral or installment of tax payments: tax credit and ITC. A tax credit is a change in the deadline for paying tax, if there are grounds provided for in Article 64 of the Tax Code of the Russian Federation, for a period of one to six months, with a lump sum or staged payment by the taxpayer of the amount of the debt.

So, according to the Tax Code of the Russian Federation, a tax credit is a kind of deferral or installment plan (depending on the procedure for fulfilling the tax obligation provided for in the agreement), despite a number of differences (the period for which tax payment is postponed, the procedure for granting a loan is not only the decision of the authorized body, but also the loan agreement, the grounds for its provision, the amount of the interest rate), which allows us to talk about a somewhat hasty use of the concept of a tax credit in this case. This is supported, in particular, by studies of the tax credit category by lawyers and economists.

For the convenience of data perception, we will compare in the form of a table. 2.

Table 2. Comparison of tax credit and ITC

Criterion	tax credit	Investment loan
Conditions (cases) of provision	1) causing damage to the borrower as a result of a natural disaster, man-made disaster or other force majeure circumstances; 2) delays to the borrower in financing from the budget or payment of the state order executed by this person; 3) threats of bankruptcy of the borrower in the event of a lump-sum payment of tax to them.	1) carrying out by the borrower of research or development work, or technical re-equipment of its own production; 2) implementation by the borrower of implementation or innovation activities, including the creation of new or improvement of applied technologies, the creation of new types of raw materials and materials; 3) fulfillment by the borrower of a particularly important order for the socio-economic development of the region or the provision of especially important services to the population by the borrower
Loan terms	from 3 months to 1 year	from 1 year to 5 years
Loan amount	no more than the amount of damage or delay in financing	from 30% to 100% of the cost of works (property)
Loan interest rate	from 0% to 6.5% per annum	from 6.5% to 13% per annum
Types of taxes for which loans are made	federal, state, local taxes	income tax (in the part credited to the regional and local budgets), as well as on regional and local taxes
Possibility of early repayment of the loan (offset)	yes, interest-free offset against overpayment is possible (for example, for export VAT)	yes, no interest
Creditor Status	Federal, regional and local tax authorities	federal, regional and local tax services, with the participation of relevant committees of regional executive authorities of the constituent entities of the Russian Federation and / or municipalities
Borrower status	taxpayer	taxpayer
Guarantee	mostly yes	mostly no
General requirements for borrowers	absence: - initiated criminal case on taxes and fees; - administrative proceedings on taxes and fees; - reasons to believe that the loan is obtained for the purpose of tax evasion; - absence of debts on regional and local taxes; - availability of grounds for the right to receive a loan

ITC differs from a bank loan, and even more so from a deferment (installment plan) for the payment of tax payments - they have different grounds for obtaining and goals pursued by the creditor.

The purpose of a bank loan is to make a profit by the bank. At the same time, there can be any reasons for obtaining a loan, it is enough for the bank to be sure that the borrower is able to provide appropriate security and pay the accrued interest.

The purpose of granting a deferment (installment plan) for the payment of taxes and fees is to prevent the bankruptcy of the taxpayer. At the same time, the number of grounds for obtaining a deferment (installment plan) is limited.

INC pursues the goal of supporting the innovative development of the economy or the implementation by organizations of a number of important socio-economic tasks that do not have high financial profitability. At the same time, a change in the tax payment deadline gives the organization, if there are appropriate grounds, to reduce tax payments within a certain period and within certain limits, followed by a phased payment of the reduction amounts and interest accrued on them.

Other differences: the number of grounds for granting an ITC is limited compared to a bank loan, and the borrower is not financially insolvent, as is the case with the provision of a deferment (installment plan) (Table 3). Prokopieva A.V. writes that, in addition, when providing ITC, state bodies do not aim to obtain financial benefits, since the interest rate on this type of loan cannot exceed the refinancing rate of the Bank of Russia.

Table 3 Comparative characteristics of different lending methods

Characteristics	INC	Bank loan	Postponement (installment plan) for the payment of taxes and fees
Grounds for grants	Are established by the state	Depend only on the economic policy of the bank	Are established by the state
Security	Pledge, surety	Pledge, surety, guarantee	In some cases it is not necessary
Mandatory provision for the creditor	Not required	Not required	In some cases it is required
The purpose of the actions of the creditor	Innovative development of the economy	Receiving a profit	Prevention of bankruptcy of the taxpayer
Interest rate	Set by the state	Depends on the terms of the loan agreement	Established by the state (in some cases not charged)
Nature of funds provided	Taxpayer funds	Bank's own funds	Funds not provided
Decision-making bodies	State	Bank management	State

Contrary to popular misconception, INC is not a type of budget loan.

Firstly, the norms of the RF BC cannot be applied to tax legal relations due to the provisions of Art. 1 BC RF and Art. 2 of the Tax Code of the Russian Federation. The budget legislation regulates the relations on distribution and use of funds, while the tax legislation regulates the procedure for their accumulation.

Secondly, the INC does not correspond to that established in Art. 6 of the RF BC defines the concept of "budget credit" - a form of financing budget expenditures, which provides for the provision of funds to legal entities or other budgets on a returnable and reimbursable basis. That is, without providing the borrower with funds directly from the budget, a loan of the type in question is not formed.

Meanwhile, funds are considered budgetary (credited to the income of the corresponding budget) only from the moment the Bank of Russia or a credit institution performs an operation to credit (account) funds to the account of the body executing the budget, which follows from Art. 40 BC RF.

Bibliographic list

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