Tax News Reporter - Week ended 24 September 1996
Moscow taxpayers can apply for a 'tax investment credit', under which a deferment may be granted for one or more taxes payable to the Moscow City budget. Interest may be charged but will not exceed the refinancing rate of the Central Bank (currently 0.27% per day) and can apparently be negotiated. Conditions to qualify for the credit are, inter alia,
[LB]
force majeure;
subsidies from the Moscow budget are not paid on time;
the money will be used for investment projects aimed at the "social-economic" development of the city. This includes re-equipping production facilities and the creation of employment.
[LE]
Laws of the City of Moscow of 1 July 1996 No. 23 and No. 21
For further information contact Bauke van der Meer on tel: +7 503 232 5511 fax: +7 503 232 5522 or e-mail directly: Click Contact Link or enter a text search 'Coopers & Lybrand' and 'Business Monitor'
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