Amendments to the legislation prepared by the Omsk Ministry of Economy were adopted by the regional parliament.
Now, in order to receive an investment tax credit, an investor can provide accounting statements for 2 full years and the last available reporting period (previously it was required for 3 full years), a certificate of absence of restrictions on current accounts can be obtained a month or more before applying for state support.
"An investment tax credit is a form of government support for investors, which involves changing the deadline for paying property or income taxes, depending on the business' choice. Organizations can reduce payments on one of the taxes by half for the payback period of the investment project. In fact, an investment tax credit is an opportunity for organizations to direct financial resources to the implementation of a project. No funds are allocated from the budget as part of this support," explained the Minister of Economy of the Omsk region.Anna Negoduiko.
It should be recalled that for existing organizations that have received an investment tax credit, a reduced income tax rate of 13.5% and an exemption from property tax of 50% has been established. This mechanism allows enterprises to expand and modernize production facilities.
An investment tax credit can be granted to organizations that are implementing an investment project in the Omsk region with capital investments of at least 50 million rubles in the creation or acquisition of new industrial property. Omsk small and medium-sized businesses that implement an investment project in the region with capital investments of more than 10 million rubles in the creation of facilities in the field of electricity, gas, heat, water supply, and sanitation intended for the provision of public services can also apply for this support measure.
An investment tax credit is provided for the payback period stipulated by the investment project, but not more than ten years. The amount of the investment tax credit is subject to interest in the amount of 0.01% per annum.
The amount of the investment tax credit may not exceed the value of the created or acquired property used for the implementation of the investment project.
During the period of the measure, investors have used it to implement projects to expand production and bring new products and services to the market.
Entrepreneurs can get advice on obtaining an investment tax credit from the Omsk Ministry of Economy at the phone number: 37-40-57.