Capital investments on subsidies – Newspaper Kommersant No. 206 (7407) dated 11/08/2022

The regions will again receive compensation from the federal center for the investment tax deductions provided to businesses for income tax. The government renewed this measure by allocating 5 billion rubles each for such subsidies in 2022–2024. We are talking about compensation for up to two-thirds of the budgetary losses of the subjects at the rate of 200 million rubles. for one company. With this money, the center stimulates both the introduction of the benefit itself in order to support capital investments, and the regional investment standard – in order to receive compensation, subjects must confirm its introduction by December 1.

The White House has decided to reactivate the mechanism for providing regions with subsidies to compensate for expenses in connection with the provision of investment tax deductions (INV) on income tax. Initially, this measure was designed only for 2021, but now, it follows from the adopted government decree, this temporary restriction has been lifted. As Prime Minister Mikhail Mishustin clarified on Monday at a meeting with his deputies, the regions will begin to receive subsidies again this year – it is expected that this will stimulate the introduction of INV and support the financial stability of the regions. Such a decision, we note, fits into the logic of the authorities’ actions to set up and expand tools to support investment activity against the backdrop of growing uncertainty and the unwillingness of businesses to take on long-term risks (see “Kommersant” dated November 7).

As Kommersant was told in the Ministry of Economy, in 2022-2024, 5 billion rubles are allocated in the budget for the provision of such subsidies. in year.

The INV mechanism was introduced in 2018 to stimulate investment in the regions and is calculated until the end of 2027 – companies can reduce the regional part of income tax by up to 90% of the volume of investments in business development (requirements for companies and the amount of the deduction may vary depending on the territory ). The regions were reluctant to introduce this benefit due to direct budgetary losses from it – in connection with this, partial compensation was introduced (see “Kommersant” dated July 15, 2021). As explained to Kommersant in the Ministry of Finance, in 2021, 19 regions received subsidies – in the amount of 855.3 million rubles. This, already follows from the data of the Ministry of Economy, contributed to some expansion of the geography of INV: if in 2021 60 regions adopted a law on such a benefit, now we are talking about 66.

The conditions for the payment of subsidies remain generally the same: the regions will be compensated for up to two-thirds of the costs in connection with the use of INV – up to 200 million rubles. for one company (it should not be related to gambling, mining, financial or insurance activities). At the same time, the subjects must implement the regional investment standard. He, recall, implies the formation of a unified investment environment through the adoption of investment declarations, the approval of sets of investment rules and investment cards, as well as the creation of development agencies that will support projects in the “one-stop shop” mode, and investment committees (platforms for pre-trial settlement of disputes). It is necessary to confirm the implementation of this set of measures by December 1. According to the Ministry of Economy, this will happen after the assessment of measures by business associations – it will take place before the end of November. Now, according to the agency, 45 regions are implementing the regional investment standard, in 2023 the list will be expanded to 85 territories, by the end of 2024 to 89.

Note that the INV mechanism may be reformed in the future.

As the head of the Ministry of Economy Maxim Reshetnikov previously reported, in 2022-2023 it will be used to introduce a regional investment standard, and from 2024 it is proposed to “significantly modernize and, perhaps, revise or reorient” the funds allocated for its stimulation. The Ministry of Economy has not yet disclosed the details and reasons for possible changes.

Evgenia Kryuchkova