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Legal persons regardless the form of ownership can apply for the reception of the state guarantees provided that they meet the following obligatory conditions: - presence of practical work experience of the applicant of not less than three years since its state registration; - absence of delayed debts on means earlier given from the federal budget and the budget of St. Petersburg on the returnable basis, on payment of interests for using them, on charged and presented penal sanctions; - absence of debt on payment of taxes and tax collections into budgets of all levels and non-budget funds according to the results of the last accounting fiscal year and on the last accounting date with the applicant; - absence of delayed debts on loans and credits with the applicant; - absence of delayed creditor debts and losses according to the results of the last fiscal year and on the last accounting date prior to the date of submission of the documents for receiving a budgetary support in the form of the state guarantee with the applicant; - absence of delay or installments on payment of taxes and tax collections into budgets of all levels, non-budget funds, and also tax and budgetary credits with the applicant: - presence of the own means not less than 50 percent of the total amount of the investments required for realization of the investment project.

Agreements with banks for the right of a guarantor to undisputable and acceptance-free write-off of funds from the account of a guarantee recipient under the guarantee agreement. Submission of the report on project implementation on quarterly basis. Submission on quarterly basis of the balance sheet verified by the tax authorities, and other documents confirming that the credit is used properly. Providing of a guarantor with liquid security of the return of the amount paid to third parties under the terms of a contract.

Enterprises established or owned by St. Petersburg. Organizations with maximum proportion of own funds in total investments. Organizations with minimum term of state guarantee. Organizations with minimum pay-off period.

Tax Concessions to Investors within the Amount Entered into the Budget of St. Petersburg in Compliance with the Effective Laws14 Executive and legislature governmental bodies of St. Petersburg constantly work on improvement of the tax legislation of the city. The purpose of this form of the state support is to stimulate the development of investment activity on the territory of St. Petersburg. Tax concessions mean benefits granted to individual taxpayers group including tax exemption or reduction.

14

Tax concessions are listed in the Law of St. Petersburg No. 81-11 on 14.06.1995 “On Tax Concessions� (as amended on 08.05.2007). 41

Business.support.structure.in.St.Petersburg  

1. STATE AND MUNICIPAL AUTHORITIES IN ST. PETERSBURG In St. Petersburg the system of state authorities was formed which has statutory object...