hello want to know what treatment of depreciation on leasing
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First you have to see what kind of leasing contract to be performed (with or without option to purchase), if not with option to buy the seat as the company makes is the intermediary who in most cases are the banks, but when it's with purchase option normally takes place
depreciation FAQ:
1) What tax benefits of leasing? Leasing allows the customer to take accelerated depreciation of goods, and financial expenses. However, imposing a minimum term of 24 months for property and contracts of 60 months for real estate. If you fail to comply with these minimum periods, you lose the right to take an accelerated depreciation.
(2) What kind of goods can be purchased by lease? can buy all sorts of fixed assets, whether movable or immovable. For example, offices, factories, machinery, equipment, office furniture, computers, vehicles, among others. It is not possible leasing of stock or perishable products. Legislation force is not clear as to the possibility of leasing of intangibles such as software licenses, trademarks and patents, among others.
(3) Do installments must be equal? No. The fees may or may not be equal. Normally, if the client's business is seasonal, establishing quotas to suit the cash flow sales. Also, the fees can have a frequency other than monthly, for example, quarterly or half yearly.
(4) "The call option is a fixed value or a percentage of the amount of goods? As in the case of periodic dues and the down payment, the purchase option is a value that is freely determined, as a result of negotiations between the contracting parties. Thus, it can be $ 1, 1% of the initial or any other amount agreed. However, it is common practice in the lease that the option is for an amount less than the expected realizable value of assets, so that the client is motivated to exercise.
(5) Who is the owner of the rented property? legal owner of the rented property is the leasing company during the term of the leasing contract. Once it ends and the client meets all the obligations therein, including payment of the purchase option for, transferred ownership of the goods to the customer, which may freely dispose of mismos.Por example, in the case of Leasing a vehicle, the ownership card will be payable to the lessor during the term of the contract. By successfully completing the contract, just proceed to make the sale and transfer appropriate vehicle.
(6) Who depreciates leasehold? The leasing company is the one who depreciates the leased property, despite not being the legal owner of them. Since has the benefit of accelerated depreciation that must meet the minimum contract term established in the existing legal framework. These show 24 months in the case of movable property and 60 months for the case of real estate. Failure to comply with these minimum terms, the law provides that the depreciation will not be accelerated and implemented in terms of the general scheme of income tax.
(7) How lease accounting records in the customer's balance tenant? The client records the asset and financial depreciation (within normal, not accelerated) on the asset and the account Payable in person, by appropriate subdivision between current and non corriente.Para tax purposes, the client takes the accelerated depreciation, which reduces your taxable income tax, putting off further payment. This creates an effect on deferred income tax must register the company.
(8) Are there minimum periods for the completion of leasing contracts? Yes, if the client wishes to avail the benefit of accelerated depreciation. In the case of buildings, the minimum period is 60 months, while in the case of other assets (personal property in general), the term minimum of 24 months.
(9) Are there advantages to working with leasing companies that have tax stability contracts? The legal framework provides that landlords stabilized until the end of the duration of these contracts (varies in each case), under the previous regime, which allowed tax deduction regular quota leasing as an expense fully deductible calculating the tax base to renta.Sin however, provides a limitation by introducing a new concept, which is the "average quota." This in practice substantially limits el beneficio marginal de la estabilidad tributaria, puesto que todo exceso sobre la cuota promedio en una deducción periódica se debe trasladar íntegramente al final del contrato. Dada la complejidad matemática asociada a la demostración de este tema, se sugiere contactarse con un Oficial de Negocios de América Leasing a fin de coordinar una reunión explicativa.
(10) ¿Existen montos mínimos para la realización de contratos? Legalmente, no existe ninguna limitación. Normalmente se establece un monto mínimo de US$10,000 en función de las economías de escala necesarias para solventar los gastos administrativos asociados a una operación de arrendamiento financiero.Sin But America eventually achieved Leasing contracts for smaller amounts, when the client asks for such an exceptional need.
(11) Do specific powers to require that the legal representatives of a company to sign leasing contracts? Definitely yes. Our legal department is available to assist clients in drafting the wording of the minutes and / or powers to regulate any deficiencies that might exist in the system powers your business.
(12) How long do a lease contract? Normally, in the case of movable property, one week delay from when the customer brings the complete until the payment is made. If it is used goods, or import contracts, the terms tend to be older, so it is recommended to consult with our officers is Negocios.Cuando property, the procedure is often longer due to the need perform appraisals, titration study, verification of farm payments, taxes and other obligations of the owner's expense inmueble.En general, our services are usually faster than those of competitors. Especially when it comes to repeat business.
(13) Which of the contracting parties you must pay taxes, taxes, levies and other charges affecting the leased assets? The tenant is responsible for these payments. However, it is usual practice that the lessor make these payments by the customer and then charge them. The collection can be immediately, via the issuance of a special assessment or may be financed by increasing regular payments.
(14) "The VAT is the tax credit installments for the customer? definitely the VAT levied on periodic assessments paid by the client and the duty on the purchase option (there are cases in which the purchase option is not taxed with VAT) is tax credit for the tenant. Typically, the amount of contributions is such that the client retrieves the sales tax on immediately or almost immediately.
(15) Can I cancel the contract before leasing? Are there prepayment penalties? The contract does not explicitly set the option to cancel early. However, it is possible through the signing of a bill for amendment. In this case, the market is usual practice to consider an additional amount saldo insoluto de la operación, que viene dado por el efecto tributario y en algunos casos por un lucro cesante, cuando este último es cuantioso.América Leasing tiene por política general (salvo cuando el contrato es de un monto significativo o cuando han transcurrido pocas cuotas desde la firma del mismo) no considerar lucro cesante y sólo cobrar al cliente, en adición al saldo insoluto de la operación, el importe del efecto tributario por cobro anticipado. Cada caso debe ser analizado en forma individual.
(16) ¿Las cuotas son fijas o pueden ser reajustadas por la empresa de arrendamiento financiero? Algunas empresas arrendadoras establecen cuotas variables (en función to Libor plus a premium for example). In the case of America Leasing, the dollar payment schedules are fixed fees. For schedules denominated in soles VAC, is made periodic adjustments to reflect constant purchasing value according to factors released by the Central Bank as mensual.Cabe noted that if the government changes the tax rates income, general sales tax - VAT - or any other tax, the contract entitles the lessor to move the adjustment either up or down. So far this has not happened.
(17) Can endorse the client's insurance policies for the leasing company? If possible, even if it means additional costs to control the leasing company, which must be charged to the customer. In addition, emphasis is placed on reviewing the policy and its terms and conditions, so make sure that at least meet the minimum standards set by America Leasing. No endorsements are accepted at least not comply with these conditions mínimas.En general, there is an economic advantage to the insurance contract directly with America Leasing, then negotiate the conditions on the basis of an annual insurance contract, which generates economies of scale in purchasing, which subsequently move clientes.Existe also the possibility of designing special insurance plans, which meet in a better way the needs and preferences. For this we have expertise in the field.
(18) Can you modify a lease agreement? If you can modify a contract. This implies the prior approval of a Committee of Leasing and collection of legal fees by drafting contracts. If required to extend the term of the transaction initially agreed, the client should be reclassified as a placement refinanced, which may cause some problems if it induces a greater perception reclassification risk and a worse risk category.
(19) Is it a leasing more expensive than a bank loan? can not say categorically that one or the other scheme is more beneficial for a particular client. Variables should be analyzed before we can determine what is best for you. Among the indicators are relevant to review the lease siguientes.Tipo of goods (movable or immovable). Rates and terms to which the customer can access the financial system. Ability to generate profits for the financial client for the duration of the possible operation of Leasing. Resilience of the tax credit by the customer, based on an analysis of taxable sales and purchases. Our Business Officers are trained to recommend the best option in each situation analyzed. Our commitment is to honesty and transparency with the client.
(20) Can do lease of property used? is possible. However, it is usual practice to consider a larger down payment and possibly additional safeguards when the secondary or resale value of the goods is low or there is little liquidity or demand for such products.
(21) What if the supplier of the goods does not meet any of the terms committed to the delivery, warranty, operation, performance of the same? According to the provisions of the lease contract, the customer is responsible for choosing the provider and the property. If the goods do not comply with the requirements and benefits offered by the supplier, the customer has the right to make claims thereunder. Leasing company all the powers delegated to the client in order to fulfill that purpose, but is not involved in the grievance process, as it normally does not know the client as well as the characteristics of the property or business in which they operate.
(22) How common is the request for additional assurances that asset to perform an operation of Leasing? Typically, transactions involve a down payment (although not in all cases) and are made in installments consistent with the length of the property, which implies that there is no need for additional safeguards. In the case of family businesses or companies closed, it is usually ordered joint and several guarantee of the principal shareholders. In the case of portable or transportable assets, as well as vehicles, it is usual for the appointment of a trustee legal.Sólo in major operations or serious risk usually apply additional safeguards but you can not generalize. Always analyze each case separately.
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pages of interest.
http://www.sunat.gob.pe/legislacion/oficios/2007/oficios/i0352007.htm
http://www.americaleasing.com/alsaweb/preguntas.htm
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