01/28/2019 The Independent Association of Banks of Ukraine (NABU) and the Ukrainian Union of Lessors (UUL) held a joint roundtable aimed at developing common approaches to accounting for leasing operations.
The event was attended by NABU member banks and leasing companies – UUL members.
Issues raised by the participants were: provision of financial leasing services in foreign currency (or pegged to the currency), taxation of VAT fees not included in the regular lease payment, accounting of leasing objects after their transfer to the lessee on off-balance sheet accounts , etc.
Maryna Masich, director of the Ukrainian Union of Lessors, thanked the NABU leadership for organizing the event and offered to make such cooperation and exchange of experience regular. As more banks provide leasing services to legal entities and individuals, therefore, there are common problems with lessors. She also suggested discussing the factors that pose significant risks to doing business in this area and finding ways to minimize them together.
Olena Kostochkina, Coordinator of the NABU Tax Committee, thanked all participants and colleagues in the leasing market who agreed to participate in the discussion of problematic issues and to share many years of experience in the field of currency transactions accounting.
During the two-hour meeting, there was a constructive dialogue between representatives of both markets, which resulted in a vision of a joint action plan.
