Finance leases and the principle of substance-over-form in France
Type de matériel :
TexteLangue : français Détails de publication : 2018.
Sujet(s) : Ressources en ligne : Abrégé : This paper examines the accounting treatment of finance leases in France from a legal, fiscal, and economic angle. Although in article 212-5 of the National Accounting Code (PCG), finance leases are booked as rental contracts, legal, tax, and economic texts increasingly view them as in-substance purchases. This study aims to help improve and increase the cohesion of the French normative environment on this issue. This is relevant following the adoption of the EU Directive 34 and in relation to the principle of substance-over-form, as well as the imminent application of IFRS 16.
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This paper examines the accounting treatment of finance leases in France from a legal, fiscal, and economic angle. Although in article 212-5 of the National Accounting Code (PCG), finance leases are booked as rental contracts, legal, tax, and economic texts increasingly view them as in-substance purchases. This study aims to help improve and increase the cohesion of the French normative environment on this issue. This is relevant following the adoption of the EU Directive 34 and in relation to the principle of substance-over-form, as well as the imminent application of IFRS 16.
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