Financial leasing: legal framework
Journal Title: Економіка. Фінанси. Право - Year 2018, Vol 12, Issue
Abstract
The paper deals with the study of the legal framework for financial leasing in Ukraine. It is emphasised on the positive aspects and weaknesses of the legislation regulating financial leasing in order to substantiate the proposals on how to improve the legal framework for financial leasing in Ukraine. The inconsistency of the legislator in distinguishing between the scope of the Com-mercial Code of Ukraine and the Civil Code of Ukraine on the regulation of financial leasing, failure to take into account in the Law of Ukraine “About Financial Leasing” the legal provisions on financial services and state regulation of financial services markets are revealed. The purpose of the article is to substantiate the proposals on how to improve the legal framework for financial leasing in Ukraine. The fragmentary approach of the legislator to the regulation of leasing relations in the Civil Code of Ukraine is noted. It is argued that the main obstacle to the development of financial leasing in Ukraine is the obsolete legal framework for financial leasing, its non-compliance with the needs of modern law enforcement, as well as lack of system. The doctrinal approaches con-cerning directions of improvement of legal framework for financial leasing are analyzed. The provisions of the draft law on financial leasing have been investigated, and its main novelties have been noted. The provisions which may cause problems to law enforcement problems were identified. It was emphasized that the priority direction in the development of the legislation on financial leasing should be the introduction of state support programs for financial leasing, in particular, the provision of tax privileges on financial leasing transactions, tax incentives for financial leasing transactions by introducing increased depreciation for leased assets, etc. A comprehensive legislative update is suggested through consolidating the legal provisions on financial leasing in the Com-mercial Code of Ukraine.
Authors and Affiliations
Tetiana Mykhailivna Yamnenko, Alina Viktorivna Omelchuk
Keywords
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