The Export-Import Bank of the US's (Ex-Im) cessation of new lending activities does not have an immediate impact on aircraft leasing companies given the broad market access they currently enjoy; however, a permanent loss of Ex-Im would eliminate a contingent funding source for these lessors
Keeler explained how the GLN works: "New lessors
register at www.
Ernst & Young is concerned about the conceptual basis for a lessee recognizing a liability for lease payments that do not represent an unconditional obligation and similarly for a lessor
recognizing a receivable for amounts other than those that the lessor
has an unconditional right to receive.
It is thought that the UK tax authorities do not seek to impose tax on non-resident lessors
who have no PE in the UK under the miscellaneous charge.
In addition, if a lessor
makes a qualified leasehold improvement, such improvement does not qualify as qualified leasehold improvement property to any subsequent owner of the improvement, unless acquired by reason of death or certain nonrecognition property transfers (e.
These statements include information about the lessor
and the lessee--name, address, employee identification number, location of "retail" space and the amount of the construction allowance.
You pay for excessive wear and tear as defined by the lessor
RENTAL AND OTHER PAYMENTS: A lease also will contain a provision that describes the rental and other payments you're required to pay the lessor
during the term of the lease.
If the lessor
wants to operate his lease (asset) to make profit, he will provide assets on hire to others for use under an agreement.
While the lessor
and lessee eventually agree on an economic deal, the tax consequences arising from certain structures can sometimes catch one or both of the parties by surprise.
On the other hand, a uniform federal disclosure scheme for lease-purchase agreements that provides key information to consumers without causing a substantial compliance burden to lessors
might prove beneficial, provided the various parties affected by such legislation can identify a genuine need for it.
Thus, the lessor
uses a combination of its own funds and borrowed money to purchase the asset (requiring large capital outlays) that is then leased to another party.