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The investment tax credit can be given regarding the part of the sums paid into the budget of St. Petersburg by the tax on property of organizations. The investment tax credit on the tax on the property of organizations can be given to the organization at presence of at least one of the following bases: 1) realization by the organization during the period from 1 January 2002 to the last date of the accounting period previous to day of submission by the organization of the application for granting of the investment tax credit on the tax to the property of organizations of the investment project providing expenses directed on financing of investments in the basic means and non-material actives (including the volumes of modernization), used at production of goods (works, services) on the territory of St. Petersburg for the sum exceeding three millions roubles; 2) realization by the organization during the validity of the contract on granting the investment tax credit on the tax to the property of organizations of the investment project providing expenses on financing of investments in the basic means and non-material actives (including the volumes of modernization), used at production of goods (works, services) on the territory of St. Petersburg for the sum exceeding three millions roubles. The investment project is understood as a substantiation of economic feasibility, volume and terms of realization of the capital investments, including the required design and budget documentation developed according to the legislation of the Russian Federation and the standards approved according to the stated order (by norms and rules), and also the description of practical activities directed on realization of investments (the business plan). The specified bases for reception of the investment tax credit on the tax to the property of organizations should be documentary confirmed by the organization. The conditions of granting of the investment tax credit on the tax to the property of organizations are the following: 1. The investment tax credit on the tax to the property of organizations can be given both by one and by several investment projects at the observance of the following conditions: presence of the means stipulated in the budget of St. Petersburg for the purpose of granting of investment tax credits on the tax to the property of organizations; the sum of the investment tax credit actually saved up during one financial year cannot exceed the established budgetary appropriations according to the departmental structure of the expenses of the budget of St. Petersburg for the corresponding fiscal year; absence of bankrupting procedures concerning the organization; absence of debts with the organization under taxes and tax collections, fees and penal sanctions to the budgets of all levels (except for the case when the sum of the debts under taxes and tax collections to the budgets of all levels does not exceed or equals the sum of the value added tax due to compensation (offset, return) according to the current legislation of the Russian Federation about taxes and tax collections) on the first date of submission of the application for granting the investment tax credit on the tax to the property of organizations by the organization. 2. The substantiation (business plan, feasibility report) for reception of the investment tax credit on the tax to the property of organizations according to one of the bases stated by the Law of St. Petersburg ÂŤAbout the investment tax creditÂť cannot be used for reception of the investment tax credit on the tax to the property of organizations on other bases. 3. The investment tax credit on the tax to the property of organizations can be given for the term from one year up to ten years. 4. The rights of the organization arisen from the contract on granting of the investment tax credit on the tax to the property of organizations cannot be conceded to another person. 5. The term on which the investment tax credit on the tax to the property of organizations is given is estimated since the date of signing the contract about granting the investment tax credit on the tax to the property of organizations by the parties. The sums of the investment tax credit on the 47

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...