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Taxation for parties to special investment contracts

19.05.2016
Taxation for parties to special investment contracts According to the draft law No.801288-6 “On amendments to part one and two of the Tax Code of the Russian Federation” (on decreasing the corporate profit tax for participants of regional investment projects) it is planned to introduce a new category of taxpayers: taxpayers - parties to special investment contracts (hereinafter - “taxpayers - PSIC”)

Taxpayers - PSIC are investors who are a party to a special investment contract entered into on behalf of the Russian Federation by a federal executive body determined by the Russian government in the field of industrial policy or another federal executive body authorized by the Russian government to enter into special investment contracts in the branches of industry according to the Federal Law “On industrial policy in the Russian Federation” of 31.12.2014 No. 488-ФЗ.

For the purposes of the Tax Code of Russia taxpayers - PSIC are taxpayers - participants of regional investment projects (paragraph 1, part 2, article 25.9 of the Tax Code of Russia as amended by the draft law) and obtain this status from the date the investment project is included into the list of investment projects provided by paragraph 3, part 1, article 6 of the Federal Law “On industrial policy in the Russian Federation” of 31.12.2014 No. 488-ФЗ. Since that day the organization is considered included into the register of participants of regional investment projects.

The rate of the corporate profit tax to be transferred to the federal budget is established at 0 % and applied provided that the income from sales of products resulting from execution of a regional investment project constitute at least 90 % of all income.

The aforementioned tax rate (0% to federal budget) applies during the period of application of the decreased corporate income tax rate to be transferred to the regional budgets.

The tax rate to be transferred to the regional budgets may be decreased to 0% by regional laws concerning taxpayers - PSIC starting from the tax period in which according to tax account the first profits from sales of products resulting from execution of a regional investment project were received, and until termination of the special investment contract, but no later than 2025 inclusively.

Taxpayers - PSIC calculate corporate income tax according to chapter 25 “Corporate income tax” of the Tax Code of Russia taking into account the special provisions of article 288.2 of the Tax Code of Russia, on condition of separate accounts for income (costs) resulting from execution of a special investment project and income (costs) resulting from other types of business activity.

Taxpayers - PSIC are entitled to apply a special index to the general depreciation rate, but no more than 2 in relation to depreciable capital assets included into depreciation groups one to seven (approved by the Decree of the Government of the Russian Federation “On classification of capital assets included into depreciation groups” of 01.01.2002 No. 1) and produced in compliance with the provisions of the special investment contract. The procedure of classification of depreciable capital assets as produced according to the terms of the special investment contract is determined by the Russian government.

According to paragraph 4.1, article 5 of the Tax Code of Russia (as amended by the draft law) the legislative provisions on tax and duties changing tax rates, tax exemptions, procedure of tax calculations, procedures and terms of tax payment for taxpayers - PSIC and aggravating the situation of these taxpayers in terms of relations connected with execution of the special investment contract do not apply before the earliest of the following dates:
- date of termination of the special investment contract;
- date of termination of tax rates, tax exemptions, procedure of tax calculations, procedures and terms of tax payment established on the date of the special investment contract.


5075f1914f50c8ab0f15ebc5895a6d28.jpgCONTACT

Erika Kindsvater

Attorney-at-Law, YUST Law Firm

Kindsvater@yust.ru


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