Entrepreneurs have referred to venture capital financing

Recently, the news about the capital flight from Russia has remained on the pages of business publications. Investors, first of all foreign, in the period of macroeconomic instability, are in attempt to protect their finances and dispose of so called risky investments to the developing countries. Highly liquid capital, without any delay in the country, loses by that its investment component in the long-term.

It should seem in such conditions, there is no place for risky investments, which are connected with the development of information technologies and high-tech economy sector. However, the situation is not so unique, as it might appear at first sight.

Today in order to hold its business segment, for the development of a new business, companies begin to turn step by step to the practice of venture capital financing. This direction of financial investments is new enough in our country and the potential is very high here.

There are two directions of high risk investments developing today in Russia – corporate venture capital financing and activity of « business angels».
In the first case, organizations establish own venture funds, which they invest in advanced research and development, innovative projects (startups), in firms gained a reputation in the high-tech market. According to conservative estimates, the volume of such investments could reach 34 bln RUB in the Russian market in the nearest time.

The activity of business angels represents the investment of private funds in advanced development. This direction is absolutely new in domestic business environment, first of all because potential investors possessing necessary resources are conservative and don’t know at times where they could invest. At the same time, the government hasn’t lost its scientific potential and has a great amount of engineering talents, who cannot find its benefactors. It is required to increase the information awareness of the market and to explain the rules of the game on it. But it is possible now to talk about its rapid growth: according to the data of the National association of business angels (NABA), the average volume of investments made 928 000 USD in previous year - that is by 63% more than in 2012, and the average quantity of investments of business angels per transaction increased to 232 000 USD.

All companies will file VAT returns in electronic format

Since the 1st of January 2014 the amendments to the Article 174 of the Tax Code of the RF have entered into force, according to them all organizations will be obliged to file VAT returns in electronic format from now on. As a reminder, such requirements applied earlier only to companies with the staff number more than 100 employees. The final form of the tax return and the rules of its filling are approved by the Ministry of Finance. The return is filed not later than the 20th day of the month following the tax period. There is the penalty at the rate of 200 RUB prescribed for the violation of the established procedure.

According to members of legislative body, such innovation will let speed up the administration process of tax levies and will contribute to well-timed response by origin of disputable situations. Also the experts note that the amount of organizations submitting tax reporting in electronic format is increasing annually. Thus, if in 2005 the amount of enterprises submitted electronic reporting did not reached 7%, then there were already practically 72% of such enterprises in 2012. According to the forecasts, this index will come close to 80% by the year 2015.

According to the data of the head of the Federal Tax Service of the RF (FTS) Mikhail Mishustin, about 500 taxpayers from 22 regions of the country signed up for the service access in 2013. By that the site of the FTS was visiting by more than 50 mln people during the previous year, that is by 5 mln people higher than in the year 2012.

First results of innovations can be estimated even now. Upon the application of Mikhail Mishustin, for 10 months of the year 2013 the measures taken for the improvement of the tax administration process let increase the total sum of tax collection to consolidated budget by 221,5 bln RUB, that is by 2,4% more than in the same period of the year 2012. In its turn the federal budget was refilled by 112,4 bln RUB.

According to the data of the Statistical Register, 3,859 mln companies and little more than 4 mln individual enterprises were registered on the territory of the RF at year-end 2012. The Information Agency Credinform provides you an opportunity to get the detailed information on a company you are interested in from the daily updated data base GLOBAS-i®.