On Introducing Changes And Additions Into The Law Of The Russian Federation "about Tax On Profit Of Enterprises And Organizations"

Original Language Title: О внесении изменений и дополнений в Закон Российской Федерации "О налоге на прибыль предприятий и организаций"

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
Expired-the Federal law dated 06.08.2001 g. N 110-FZ (January 1, 2002 year), the Russian Federation, the FEDERAL LAW on amendments and additions to the law of the Russian Federation "about tax on profit of enterprises and organizations" adopted by the State Duma March 12, 1999 the year approved by the Federation Council March 17, 1999 year Article 1. To the law of the Russian Federation "about tax on profit of enterprises and organizations" (records of the Congress of people's deputies of the Russian Federation and the Supreme Soviet of the Russian Federation, 1992, no. 11, p. 525; N 34, art. 1976; 1993, N 4, art. 118; Collection of laws of the Russian Federation, 1994, no. 27, art. 2823; N 32, St. 3304; 1995, N 18, art. 1592; N 26, art. 2402, 2403; N 49, St. 4695; 1996, N 1, art. 4, art. 20; N 51, art. 5682; 1997, no. 3, art. 357; N 26, art. 2953; 1998, N 31, art. 3819, 3821, 3825; 1999, N 1, art. 1, N 2, art. 237; N 7, art. 879; A Russian newspaper, March 5, 1999, no. 43) the following amendments and supplements: 1. In article 2:1) in paragraph 4: in seventh paragraph: after the words "profits earned in connection with redemption (redemption)" add the words ", including innovation," after the words ", subject to reinvestment" as follows: "the funds received from their maturity (novation) to newly issued Government securities.";
supplemented by the following sentence: "not included in the taxable base money paid in redemption (repayment), including innovations, the owners of these securities as partial repossession by the State Enterprise it costs to purchase T-BILLS and OFZ.";
eighth paragraph to read: "when implementing the primary holders of Government securities obtained as a result of reinvestment, profit (loss) is defined as the difference between the cost of implementation and their fare given the costs associated with implementation. Under the fare of Government securities acquired through reinvestment (novation), recognizes the value equal to the actual cost of the investor to purchase T-BILLS and OFZ, redeemable as a result of foreclosure or novation, reduced the amount of money received in restructuring (novation). Paid the cost of one State securities received as a result of restructuring (novation), defined as paid the cost of all government securities, divided by their number. When calculating the primary owners of income on Government securities obtained as a result of reinvestment (innovations), with their repayment, including federal loan bonds with direction constant coupon yield (OFZ-PD) for arrears of taxes, fines and have elapsed in the federal budget, an additional price of maturity (nominal value of redeemable securities) excluded a portion of interest income, was due to be paid to OFZ, and the difference between the redemption price and the acquisition of t-bills included in nominal value of Government securities obtained as a result of restructuring (novation), falling on one security, resulting from the restructuring (novation). ";
2) item 6 supplement paragraphs read as follows: "gratis enterprises received funds from foreign investors for financing of capital investments of industrial purpose, provided their use within one year from the date of receipt. When misuse of funds received or in case of their non-use for one year from the date of receipt, they are taxed in the composition of sales income in the accounting period in which the effected misappropriation of these funds or out-of-date use for its intended purpose;
funds received by the Russian organization of shareholders (founders, participants) to repay the loss, formed according to the annual financial statements for the year 1998, and aimed at these goals. "
2. Article 5 shall be amended as follows: "article 5. The tax rate on profits of enterprises and organizations, the balance in the federal budget, is established at a rate of 11 per cent.
In the budgets of the constituent entities of the Russian Federation is credited with income tax of enterprises and organizations (including foreign legal persons) at the rates established by the legislative (representative) bodies of constituent entities of the Russian Federation, in the amount not exceeding 19 percent and for businesses to profit from brokering transactions, insurers, stock exchanges, brokerage firms, banks and other credit organizations-at the rate of not more than 27 per cent.
3. In article 6:1) in paragraph 1: new subparagraph be added to paragraph "d" as follows: "d) to scientific organizations, State accreditation, directly on the conduct and development of scientific-research and experimental-design works in the manner and according to the list, which shall be established by the Government of the Russian Federation";
subparagraphs "d"-"to" consider sub-items accordingly "e"-"l";
2 in paragraph 5): the first paragraph, after the words "accounting", add the words "(excluding losses on operations with securities)";
supplement paragraph paragraph read as follows:

"The primary securities market participants, who received the loss, when restructuring (novation) T-BILLS and OFZ, as well as when implementing government securities obtained as a result of restructuring (novation), may send to repay this loss in income from the sale of securities, both traded and non-traded on organized securities market.";
3) item 6 supplemented by a paragraph reading: "received from the newly created production (except for productions that were created within the framework of trade, procurement and sales and mediation organizations), for the period of its recoupment but not exceeding three years. The newly created manufacturing recognized production allocated in separate structural subdivision on the basis of new (purchased or constructed) production capacity, the cost of which exceeds 20 million. rubles, in the presence of a feasibility study, agreed with State executive authorities of the constituent entities of the Russian Federation. Does not recognize the newly created manufacturing production, organized on the basis of production capacity acquired as property complex;
4) paragraph 7 shall be amended as follows: "7. Tax incentives established by paragraphs 1 (except for items" d "," d "and" e ") and 5 of the present article, together must not reduce the actual amount of tax calculated excluding the tax benefits by more than 50 percent."
5) paragraph 9 shall be amended as follows: "9. The State authorities of the constituent entities of the Russian Federation may provide tax benefits solely in the manner and under the conditions provided for the first part of the tax code of the Russian Federation."
4. the second subparagraph of the paragraph "a" of article 9, paragraph 1: after the words "redemption (redemption)" add the words ", including innovation,";
the word "nominal value and book value of" were replaced by the words "price and redemption price of purchase";
After the words "subject to reinvestment received" be amended to read: "funds from their maturity (novation) to newly issued Government securities."
Article 2. This federal law shall enter into force on April 1, 1999 year.
The President of the Russian Federation and to entrust the Government of the Russian Federation to bring its normative acts in compliance with this federal law.
Russian President Boris Yeltsin in Moscow, the Kremlin March 31, 1999 N 62-FZ

Related Laws