Provision of investment tax credits in accordance with federal law and the laws of the Republic of Buryatia

The investment tax credit is available for income tax organization, as well as regional and local taxes.
The investment tax credit is granted the organization is a taxpayer of the corresponding tax on the grounds permitted under federal law and the Law of the Republic of Buryatia "On some issues of tax regulations in the Republic of Buryatia, referred by the legislation of the Russian Federation on taxes and fees to the conduct of the Russian Federation."
Extract from the Law of the Republic of Buryatia "On some issues of tax regulations in the Republic of Buryatia, referred by the legislation of the Russian Federation on taxes and fees to the conduct of the Russian Federation":
"Chapter IV.3. The investment tax credit
Article 8.4
1. Investment tax credit in accordance with Articles 66 and 67 of the Tax Code of the Russian Federation is the change period for payment of the tax, in which the organization on the grounds specified in Article 67 of the Tax Code of the Russian Federation, the opportunity for a certain period of time and within a certain range reduce their tax payments with subsequent gradual payment of the loan amount and accrued interest.
2. The investment tax credit is available for income tax organization, as well as regional and local taxes.
3. An investment tax credit of the regional tax provided the organization is a taxpayer of the corresponding tax on the following grounds:
1) in the case of an investment agreement with the Government of the Republic of Buryatia, provides for the granting of the investment tax credit;
2) the implementation of a particularly important order for socio-economic development of the Republic of Buryatia or giving it a particularly important public services.
4. The list of orders for critical socio-economic development of the Republic of Buryatia and critical services to the public to use when deciding whether to grant an investment tax credit of the regional tax, determined by the Government of the Republic of Buryatia, in accordance with the priorities of socio-economic development of the Republic of Buryatia, Installed Programs socio-economic development of the Republic of Buryatia, and approved by the decree of the People's Khural of the Republic of Buryatia.
5. The investment tax credit is available on the loan amount, determined by agreement between the competent authority and the organizations concerned.
6. The rate of interest for the use of the investment tax credit is set:
1) on property tax - at a rate of one-half of the refinancing rate of the Central Bank of the Russian Federation;
2) for other regional taxes - amounting to three-quarters of the refinancing rate of the Central Bank of the Russian Federation.
7. The investment tax credit is granted for a period of one year to five years.
8. An investment tax credit is granted on the basis of statements of organization and executed contract between the prescribed form and the relevant competent authority of the organization.
9. Agreement on investment tax credit should include the order reduction of tax payments, the loan amount (indicating the tax on which the organization of investment tax credit), the term of the contract, accrued interest on the loan amount, the order of repayment of the loan amount and accrued interest of documents property that is the subject of a pledge or surety liable parties.
10. Agreement on investment tax credit must include provisions under which are not allowed in during its term sales or transfers of ownership, use or disposal of the equipment to other persons or other property, the acquisition of which the organization was a condition for the provision of investment tax credit, or determined by the terms of such sale (transfer).
11. The procedure, conditions and consequences of the termination of the investment tax credit established in accordance with Article 68 of the Tax Code of the Russian Federation. "
Providing investors with an investment tax credit is available for income tax organization, as well as regional and local taxes in accordance with the Procedure for the provision of state support to organizations implementing investment projects on the territory of the Republic of Buryatia, in the form of tax exemptions on property tax and establishing low tax rates be paid to the national budget as well as in the form of an investment tax credit of the regional tax, approved by the Government of the Republic of Buryatia, February 17, 2010 № 52.