The tax on property of organizations is established by chapter 30 of the Tax Code and laws of the Russian Federation subjects, and from the moment of introduction in action are obligatory to payment in the territory of the corresponding subject of the Russian Federation.
Establishing the tax, the legislative (representative) bodies of the subjects of the Russian Federation determine the tax rate in limits established by the present chapter, order and terms of tax payments, form of accounting under the tax. With the tax establishment, the laws of the subjects of the Russian Federation can also provide tax privileges and bases for their use by tax bearers.
The transport tax is established by chapter 28 of the Tax Code and laws of the Russian Federation subjects, and it is introduced into action according to the present Code by the laws of the subjects of the Russian Federation on the tax and is obligatory to payment in the territory of the corresponding subject of the Russian Federation.
The tax rates are established by the laws of the subjects of the Russian Federation respectively depending on engine’s capacity, draft of the jet engine or total capacity of a vehicle and its category in account on one horse power of vehicle’s engine capacity, one kg of power of draft of the jet engine, one register ton of vehicle or its unit.
The forms of the government assistance for the participants of the investment activity are established in compliance with the Krasnoyarsk Krai law by 30.09.2004 № 12-2278 “The state support of the investment activity”.
Tax benefits on regional taxes for the subjects of the investment activity are granted to the separate categories of taxpayers which are united by the activity category, sectoral, social or other factors, including projects of creating new manufactures executors which are not realized by this investor in the territory of the Krasnoyarsk Krai.
The state guarantees of the territory are given to the investors for maintenance of execution of their obligations before the third parties. The Board of the Krasnoyarsk Krai administration within the framework of the agreement on the state support of investment activity can take up the obligations (guarantees) to compensate possible damage to investors, caused by default of fulfilling conditions, stipulated by the contract.
The budget credits are given to the investors on returnable and compensated bases. Target character, conditions, order of granting and limits are established by the law of the Krai in the regional budget for the appropriate financial year and the Law of the Krasnoyarsk Krai “On the budget process in the Krasnoyarsk Krai”.
The investment tax credit is such a change of term of tax payment, with which the opportunity during the certain term and in the certain limits is given to legal persons to reduce the tax payments, subject to be transferred into the regional budget, with subsequent gradual payment of the sum of the credit and charged interests. The investment tax credit can be given at the level of regional taxes, and also under tax for organizations’ profit into the regional budget. The investment tax credit under the regional taxes can be given for the term from one year to seven years. The rate of interest for use the investment tax credit under regional taxes is established at a rate from 1/10 up to 1 from the rate of refinancing of the Bank of Russia. The investment tax credit under the regional taxes is given at a rate of not more than 50 percent of expenses on realization of the investment project.
The preferential rent for the use of property is established for legal persons, carrying out investment projects and renting state property of the Krasnoyarsk Krai, for the term of not more than five years, but not more than the term of compensation of the project, at a rate of 50 percent of the established size of a rent payment.
The subsides for compensation of a part of expenses on interest payment for using the credits received by the subjects of investment activity at the Russian credit organizations, and also on rent payment for property, got by the rent contracts for realization of the investment projects, represent partial compensation for the expenditures.
The order of registration of investment projects, estimation of efficiency of a capital investment, selection of the investment projects for compensation of expenses subsidies, expenditures of means of the regional budget are established by the Board of the Krasnoyarsk Krai administration Act dated from 23.03.05 № 91-p “On state support of investment activity”.
Source: http://www.krskstate.ru
Vocabulary list
tax climate – налоговый климат
budget levels – уровни бюджетных ассигнований
taxation – налогообложение
the Tax Code – налоговый кодекс
local taxes – местные налоги
federal taxes – федеральные налоги
tax payers – налогоплательщики
land tax – земельный налог
property tax – налог на собственность
local self-governing authorities – местные органы самоуправления
tax on profit – налог на прибыль
tax rate – ставка налогообложения
tax privileges,
tax benefits – налоговые льготы
tax bearers – налогоплательщики
regional taxes – краевые налоги
state guarantees – государственные гарантии
investment tax credit – налоговая льгота на инвестиции
compensation subsides – дотации на компенсацию
interest payment – выплата процентов
investment projects – инвестиционные проекты
expenditures – расходы, затраты, издержки
capital investment – вложение капитала, инвестиции
Task 2. Identify and underline the keywords and expressions in the above text.
Task 3. Give the English translation equivalents of the following Russian words and expression from the above text.
Типы налогов, распределение налогов, муниципальное образование, субъекты Российской федерации, транспортный налог, лошадиная сила, объем двигателя, реактивный двигатель, государственная поддержка, прибыль организаций, юридическое лицо, налоговая выплата, ставка рефинансирования, аренда государственной собственности, реализация инвестиционного проекта, частичная компенсация расходов.
Task 4. Give the Russian translation equivalents of the following expressions with the keyword “tax”.
Direct tax, indirect tax, progressive tax, redistributive tax, regressive tax, council tax, poll tax, inheritance tax, wealth tax, sales tax, consumption tax, value added tax, capital transfer tax, investment tax, company tax, corporation tax, road tax, carbon tax, energy tax, fuel tax, petrol tax, excise tax, import tax, to introduce a tax, to collect taxes, to levy taxes, to deduct taxes, to increase taxes, to cut taxes, to abolish taxes, to avoid taxes, taxman, tax law, tax measure, tax reform, tax revenue, tax break, tax advantage, tax allowance, tax exemption, tax fraud, tax consultant, tax inspector, tax loophole.
Task 5. Translate the following mini-texts into Russian, using the words and expressions from the above text and Tasks 2–4 or a dictionary if necessary.
1. Taxation in the United Kingdom may involve payments to a minimum of two different levels of government: the central government (Her Majesty's Revenue and Customs) and local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England and Wales, Council Tax and increasingly from fees and charges such as those from on-street parking.
2. Every state has a state guarantee for insurance companies. Most of the state’s programs guarantee annuities and the cash value of life insurance. For annuities most are guaranteed up to $300.000 but make sure your state is the same. The guarantee is not against the value dropping if you are invested in a variable annuity. The guarantees are to protect investors in case the insurance company goes out of business.
