Product Details

by Derek A. Bloom
Fall 2002 issue

Amendments to Russian leasing law earlier this year have greatly improved the legal and tax environment for leasing. Those amendments have cleared up numerous inconsistencies between the former leasing law and other Russian laws that affect cross-border and domestic leasing within Russia. Customs clearance, the VAT tax, and currency law are only three of the affected areas. The legal and tax environment for leasing in Russia has been greatly improved as of February 2002 with the enactment of amendments to the Russian leasing law. These amendments have removed numerous inconsistencies between the former version of the leasing law and other Russian laws applicable to cross-border and domestic leasing in Russia. The requirement for a leasing company to be licensed to engage in cross-border leasing has also been removed.