Nikityuk L.G. Application of the Investment Tax Credit for Developing the Innovation Sphere of Housing and Public Utilities

Abstract: The subject of the research is the investment tax credit (INC) to optimize the innovation processes in the housing and public utilities sector. The object of the research is the development of innovative activity of housing and public utilities in the Russian Federation. There are many problems that hinder the development of this sphere: the poor quality of housing and public utilities, deterioration of the material and technical base, low productivity, and others. So the reform of housing and public utlities is the key issue of the state socio-economic policy. The purpose of this work is to explore the possibility of using INC as the main financial instrument for solving investment and innovation problems of organizations in the housing sector. The author of the article discusses in detail the key parameters of the tax incentives for the development of innovation and investment in the housing sector. The author describes the scheme of assessment of investment tax credit for the realization of innovative activity by the housing and public utilities organizations, this scheme allowing to define the size of tax benefits taking into account possible threats of insolvency (bankruptcy) of the organizations in the sphere of housing and public utilities. As the result of the research the author comes to the conclusion that the rescheduling of the use of tax obligations in the form of deferred payment or installment plan helps to restore the financial situation in the sphere of utilities and creates the conditions to grant the INC for implemented innovations. Thus, the INC is targeted and contributes to the transformation of innovative processes that reach the current level of economic and social development and to achieve maximum efficiency of the housing sector.

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