Central Bank Debt

For debt obligations incurred prior to November 1, 2009, the marginal value per cent is taken as the refinancing rate of Central Bank, increased by half, at design of a bond equal to the ruble and fifteen per cent - on its debt in foreign currency. This order applies from January 1, po30 June 2010 as from 1 July 2010 to interest on such debt is used general order pursuant to paragraph 1.1, Article 269 of the Tax Code. Recall that the introduction of a special order of costs is seen as recognition of anti-crisis measure, and was first introduced in September 2008. As can be seen, the amendments are aimed at ensure that foreign loans, the s2011 make less attractive. 0.8 per cent of the Central Bank refinancing rate is approximately 6% per annum at the current level rates. Whereas in domestic credit to reduce Income tax will be almost 14% per annum. Cinematography organizations such organizations should take into account new provisions of paragraph 4.2 of Article 271i of paragraph 2.2 of article 273 of the Tax Code, which spread their effects on the relationship, arising from 1 January 2010 (paragraph 5 of Article.

10 of the Law ot27.07.2010 229FZ). The essence of the following. Funds received from Federal agencies Cinematography Fund of social and economic support for domestic film production, hire, display and promotion of national film, that are linked to budget allocations are accounted for as non-operating income in proportion to the conditions provided for receipt of these funds expenditures actually made by the source, but no more than three tax periods from the date of receipt of these funds.