Russian Finance Ministry

It must be emphasized that the size of the redemption price in this case has great value. It may be called in a certain range from a positive value close to zero, to a value equal to the lessor's costs associated with the acquisition of the leased asset. In the latter case it is necessary to contracts (additional agreements) and the act of checking the calculations indicate that a credit purchase price previously accepted payments in the lease payments. The basis for such set-off provided by the provisions of Articles 625 and 624 CC RF. Article 625 requires the application of the Civil Code, kasyuschihsya lease agreements in respect of the financial lease agreement, while Article 624 establishes the right of parties to the lease (financial lease) upon redemption leased property to agree to offset the previously paid rent to the purchase price.

Point of view of the possibility of such set-off letter from the Russian Finance Ministry confirmed on July 7, 2006 03-04-15/131. In conclusion, we note that if redemption price is set at a rate greater than the cost of the lessor, relating to the acquisition and transfer of the lessee of the leased property, for example, if the redemption price is set equal to the sum of all lease payments, the lessee will not be able to take into account in the tax net of current lease payments because the fiscal authorities are considering paying the redemption price of the advance payments related to the acquisition depreciable assets that are not recognized as current expenses for tax purposes. In this case, the cost of the lease agreement can be recognized only depreciation in size determined by the initial value of the property, which is significantly lower than the entire amount of lease payments. We believe that the above are exhausted problems of taxation of leasing transactions associated with the use category purchase price.

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