Sunday, October 23, 2011

What accommodations will be repaid more quickly

Investment Treaty, under which Russia is elevated in most of the commercial property does not exist, ruled the Supreme Arbitration Court (IAC). As a result, sellers of real estate may face problems with the tax authorities, and consumers - prices Clarification of the nature of investment contracts in the order you would have done the plenum of July 11, which is binding on all courts of arbitration. In cases arising out of contracts related to investment activities in the area of ​​financing the construction or renovation of real property, the courts should adjudicate on the rules of Chapter 30 (sale), 37 (row), 55 (a partnership) and other Civil Code. By default, the EAC offers a contract to qualify as an investment for future sale and purchase of real estate. An investment contract is based on the law "On investment activity in the form of investments" between the buyer or real estate agent on the one hand and the developer - on the other. According to project manager "Trinfiko Property Management" Artem Tsogoeva on investdogovoram is not less than 50% of transactions in the segment of commercial real estate. According to Cushman & Wakefield, in 2010 deals with commercial real estate (offices, warehouses, hotels and commercial structures) signed a $ 3.99 billion, so the court's decision concerns transactions of $ 2 billion a year. The opinions of the respondents 'Vedomosti' lawyers on the impact of clarification of the court broke up. Some say now that market participants will be many problems. If there is a contract of sale or contract, then a pre-paid thereon to pay the VAT, which is not required under the contract of investment, says a leading lawyer "Pepelyaev groups" Xenia Litvinov. Another problem - the tax may refuse to accept an incoming developer to VAT prior to registration of property, adds partner "Tax Assistance" Sergey Shapovalov. The need to work with the VAT would cause problems to companies that raise funds for the builder, adds a partner GBLP Vitaly Mozharovsky: now they do not work with the VAT, but now they have to communicate with his recovery, which reduces time-consuming and cash flow (pay at first, and then be refunded). Mozharovsky not exclude problems with residential real estate (see www.vedomosti). Other lawyers say that no problems. In terms of tax implications do not change, I'm sure the head of Roman Bevzenko YOU: for this in the resolution of the reservation, that the qualifications of investment transactions as the sale, contract or partnership is carried out only in civil cases (while tax disputes related to public law .) "Our goal was to introduce investdogovory to normal civil legal framework, and not to change the tax regime, which, as I understand it, follows from the analysis of the economic substance of transactions", - he said. From the tax point of view, all these explanations are of no practical value, the lawyer agrees to "Yukov, Khrenov and Partners' Andrew Crystal and partner GBLP Eugene Timofeev. According to Timofeeva, there may be only a "spirited attack" on tax deductions for VAT. Claims to investdogovoru was not there before, said an employee of the tax authorities. But given the new position you can be to try to retrain contracts and recalculate tax liabilities, he says, adding that so far have not seen an explanation of the Federal Tax Service (FTS) in this regard. The representative of the Federal Tax Service could not comment on how the service responded to the explanation of YOU. In a quandary, and builders. From commercial and suburban real estate risks may be, the chairman of the board of directors of the holding "Miel" Grigory Kulikov, "But as long as a clear understanding of what and for what projects we do not have." According to Kulikov, for clarification you in any way necessary to change the order of processing transactions. "We will expand the practice of selling commercial real estate under the law on joint construction, where there is no VAT", - says Commercial Director MR Group Irina Dziuba: as well as look for other forms of processing transactions, such as through the deposit.

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