Federal Accounting Standard (FSBU) 25/2018 “Accounting for Leases” (hereinafter, “FAS (FSBU) 25/2018”) was approved by Order No. 208n of the Russian Ministry of Finance dated 16 October 2018. In 2022 FAS (FSBU) 25/2018 became mandatory for the financial statements of all extra-budgetary companies engaged in the transfer of assets for temporary use (if leased objects do not form part of exemptions under FAS (FSBU) 25/2018).
The Kept Overview analyses various lessor accounting requirements for lease items, depending on the type of the lease, the impact the adoption of the above standard may make, and includes recommendations.
Our experts will analyse the terms and conditions of lease transactions and formulate recommendations on developing the methodology to be used when generating lease payments, with such methodology taking into account possible risks and all respective accounting requirements.
In addition, we offer our clients a wide range of services related to preparing local files as required by Russian transfer pricing legislation and defence files (as may be necessary under Russian tax law).
We would be delighted to discuss these issues with you in more detail, share our practical experience, and answer any questions you may have.
