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Add a page about leasing in your country
We are keen to develop this web site as an internationally relevant resource on leasing, with special focus, of course, on Asian markets. We are in the process of adding insightful pages on leasing in Asian countries.
If you would like to have a page on your country added, please download this Questionnaire and fill up as much of it as you can, and send it across. If you wish to send the information and texts referred into it by snail mail, our contact addresses are here.
COUNTRY QUESTIONNAIRE
GENERAL:
1. Do you have leasing as well as hire-purchase in your country?
2. Are they carried by common companies or different companies? If different, why?
3. Is there a product-based distinction - for example, is that hire-purchase is mostly limited to vehicles and leasing is done mostly for plant and machinery? Why?
5. When was the first leasing company set up?
6. When was the first hire-purchase company set up?
7. How many leasing companies are there, approximately?
8. How many hire-purchase companies are there, approx?
9. Any registration/licensing required for leasing/ HP companies with the Govt?
MARKETS:
10. What are the pre-tax rates of return normally in leasing?
11. What are the post-tax rates of return normally in leasing?
12. What are the pre-tax rates of return in HP?
13. Generally what assets are leased?
14. Generally, what assets are given on HP?
15. What is a typical transaction size?
16. Who are the typical lessees?
FUNDING:
17. Are leasing companies allowed to borrow from public?
18. Is it common to borrow from banks?
19. What is the normal form of bank credit - term loan or running credit?
20. What is the average cost of bank borrowing?
21. What is the average cost of public borrowing, if any?
REGULATION:
22. Kindly send a copy Contracts Act, with commentary.
23. Do you have any specific legislation for leases? HP? If yes, please send a copy.
24. Are there any major caselaws relating to rights of a lessor or hire-vendor? Please send a copy.
25. Are there any case laws relating to liability of the lessor on assets given on lease?
26. Do you have any law relating to consumer credit, or restrictions on lending transactions? Does such law exclude/cover lease or hire-purchase transactions?
27. Please send a copy (bare law) of the Negotiable Instruments law in your country.
TAXATION (This section is very important - kindly answer all questions carefully):
28. Please send a copy of your Income-tax law.
29. What is the corporate tax rate?
30. Is there any specific provision in income-tax law/ clarification/ ruling that allows depreciation on a lease transaction? Please send a copy.
31. Is there any specific provision in income-tax law/ clarification/ ruling that defines taxability of income in case of a hire-purchase transaction? Please send a copy.
32. What is the tax depreciation allowance system - declining balances, straightline or any other system? How is depreciation allowed - based on each asset individually or several assets as a pool?
33. What are major depreciation rates?
34. Is depreciation allowable to lessor the same as to the user of the asset?
35. Any specific tax incentives for leasing?
36. Any specific tax disincentives for leasing?
37. Any other features of your tax system you would like to mention.
GOODS/SERVICES TAX:
38. Do you have a tax on sale of goods? Is it federal, or State-specific?
39. Is a lease regarded as a sale (a) at the time of lease; (b) at the time of ultimate sale of the goods?
40. If yes for above, what is the value of goods assessed?
41. Is a hire-purchase regarded as a sale (a) at the time of lease; (b) at the time of ultimate sale of the goods?
42. If yes for above, what is the value of goods assessed?
STAMP DUTIES, ETC
43. Any stamp duties on lease transactions?
44. Any other duty or tax on lease /hire-purchase transactions?
ACCOUNTING STANDARDS:
45. Do you have any specific accounting standards/ statement/ opinion for leases? If yes, please send a copy.
46. If not, does your country follow the International Accounting Standards?
47. Do you have any specific accounting standards/ statement/ opinion for hire-purchase? If yes, please enclose a copy.
48. Are your accounting body's standards mandatory/ recommendatory/optional?
49. Unless difficult, please send a compendium containing accounting standards published by your accounting body.
GENERAL :
50. Any other specific features of your market that you would like to discuss.