Law
Representation and protection of Russian leasing companies interests
ULA collects opinions of Association members, expressed at discussions, meetings, sessions of working groups and so forth. They become a basis for forming a consolidated position, it is transferred further in bodies executive and legislature. It concerns questions of enhancement of the current legislation and standard adjustment of leasing activity.
At the moment, the Association has stated the following priority directions:
· Offers for the project of the Federal Law "About modification of the second part of the Russian Federation Civil code, the Federal Act "About financial lease (leasing)" and separate legal acts of the Russian Federation". The project is initiated by the Ministry of Economic development in August, 2009.
· Possible cancellation of accelerated depreciation coefficient for conclusion of leasing contracts, published by the Ministry of Finance of the Russian Federation in the document "The basic directions of tax policy in the Russian Federation for 2011 and for the planned period of 2012 and 2013"(approved by Government of Russian Federation at August 07, 2011.
The Ministry of Finance of Russian Federation is currently considering possibility to restrict using the accelerated amortization coefficient, for the property being a subject of contract of the finance lease (leasing), to the value “3 or less”. From the point of view of the Ministry of Finance of Russian Federation, the accelerated amortization mechanism, defined in the paragraph 259.3, item 2, sub-item 1, of the Russian Federation Tax code, should be used only for leasing transactions which conform to tasks of renewal of industry branch assets.
The United Leasing Association believes that the accelerated amortization mechanism should be kept as it is, as, in our opinion, taking into account the current level of Russian economic development, the accelerated amortization is an important condition for successful renewal of industry branch assets in Russian companies, which is necessary for raising industry efficiency and economics modernization. Our data say that the overall technical condition of fixed assets at Russian enterprises is currently low and don’t conform to world standards. We know some cases when enterprises in Russia still use equipment made in post-war years. In such conditions, the approach to the matter of accelerated depreciation should be very thorough and weighting, and the corresponding tax preferences should be granted not only to innovative, energy-saving and environmentally-safe equipment, but also to other types of equipment, that require modernization up to now. Relating to Russia, it would be considerably wide range of industry branches (agriculture, construction, timber procurement, transport, medicine, energy saving). Any other approach, to our opinion, would not allow Russian industry to become efficient.
· The problem of law enforcement practice. Growing negative judicial-arbitration practice concerning leasing companies, charges in unjust enrichment.