Finansal kiralama (Leasing) ve vergisel boyutları
Güreş, Sacid Oktay
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SUMMARY If it's considered terminologically, leasing means renting (hiring) and it has born from American Law and become an improved method. In fact, since the words, rent and renting do not give the exact correspondence of the word leasing; in our country it's used "financial renting" or the original word "leasing". In 3226 Financial Renting Law, financial renting is given by the following definition, financial renting is a kind of renting method with the aim of supplying finance so that the rentier leaves the rights of the thing that was rented to the renter, so that the rent will get all kinds of benefit from it and for a certain time. In financial renting investor, by being immunity of all kinds of expenditures depending on buying that object, has all usage rights of that object. The fundamental point of financial renting relation is that the right of possession of an object and its economical benefit is shared between two different people. The people who produced the object of leasing contract and entered the operation in the beginning, has the chance of marketing his product, but the people using the object of leasing, without finishing cash and credit sources, from totally outside sources, can find the possibility of using production vehicles or non-transportables. And for the community of credit, it can have the possibility of getting profit of that production with the minimum risk. In financial leasing, adding 5th to old has been preferred to new investment. For the full payout lease, a symbolic amount is determined for exchange. Leasing is a method of supplying finance and investment. It's the renting of an object during its economical life. Financial leasing is a contract between financial renting firm and renter. Here a third firm is the producer and seller firm Renter selects the object, renting firm buys the object. Producer and seller firm gives the object to the renter. So financial leasing is realized. The traces of financial leasing is met in old investment ages and Aristotales pointed out that richness depends on using of that right, not on right of possession. In modern manner, first application of leasing is made in 1877 by Bell-Telephone Company and then is used by IBM and United Shoe Company since 1920. It's spread out to Europe after USA. Financial leasing is a rescue method especially used in financial crise days. It's used in USA in 1930 which is crise year. But in today's manner it's made in San Francisco in the second part of 20th century by United States Leasing Corporation, and spread out widely to Europe, Japan and west Europe in 1969. In Turkey it's a new concept, which is seen in 1985. In June of 1985, 3226 Financial Renting Law is prepared. Also in 28.9.1985 Government Newspaper some additional points are added to that Law. The notification which were made by article ministry, are additional points to fees Law which is for leasing firms. And also a special place is give to leasing firms in Investment Reinforcement of investment incentive which is yearly published. In Turkey according to the development of financial leasing, huge amount of increase has become in 1990, the number of firms increased to 20 and amount became 1 trillion 60 milliards TL., and number of contracts became 3300. In 1991 number of firms became 24, amount became 1 trillion 606 milliards TL. But if we consider inflation, it's seen that the amount of hasn't increased as much as inflation. Today number of firms became 45. If we summarize, Financial Leasing Law is organized by 3226 numbered Law in 7th month of 1985. In September of 1986 İktisat Leasing was established. In March of 1987 first operation was made. In 1991 1,5 trillion operation amount was reached. In 1992, 30 firms and 3,5 trillion TL. target is seen. Firstly minimum amount of possession was 1 milliard and then became 10 and 75 milliard. Because of the Unapporiatnes of the ratios of amortization, leasing of non-movable things are not made in Turkey. The ratio of financial leasing to other investments is 33% in USA, 46% in Finland, 18-20% in England, 18% in Japan, 8% in Germany and 1,5% in Turkey. In Developed Countries the ratio of possessions got by leasing to others is, in 1980's, 20% in USA, 9% in Germany, 10% in France, 12% in England but only 2% in Turkey. Today in Developed Countries that ration increased to 25-30%. In Turkey our aim is to increase the share of leasing to 10% from 3% in financial system. Financial leasing methods are separated to 2 parts: national and international renting. National renting is also separated to 2 parts: imported and non-imported; International also 2 parts: customs immunity and subject to customs. In practice, not important financial leasing types are Operating Lease, Financial Lease, Direct-Indirect lease, Net-Gross Lease. Also there are Sale and Lease Back, Leverage Lease. Open and Closed ended Lease, Tax Leasing, Percentange Lease and International Lease. In Turkey Financial Leasing is the most reliable kind, it has no risk since if the renter cannot pay, the possession is taken back by the financial leasing fir. And also in financial leasing, leasing can be shown as expenditure and reinforcement can be taken. But besides these, financial leasing has also some disadvantages such as, the investmenter firm can not have the object until the end of the term, moreover it doesn't have tax decrease, and also firms may have difficulty in forward paying. Generally, Financial Leasing is prepared by KOBİ's and some establishments whose credit limit is over. Financial Leasing firms can be established as Anonymous Firms. It need the permission of Secretary of Treasury. Minimum amount of possession must be 75 milliard TL (for foreign firms 2 million dollars). Treasury controls these firms. 3226 numbered Financial Leasing Laws 4th article defines Financial Leasing contract as; a contract in which the rights of a possession bought from a third person, is left to the renter. It includes transportable or non-transportable things. Patent is not the subject of that contract. Financial Leasing, since it's considered as a different method, it has given benefit to Private Law. According to 3226 numbered Financial Leasing Law 6th matter time and amount must be determined. Also it's pointed out that renter can show taxes of financial leasing as expenditure only when he pays them. And value addet tax must applied to leasing. In reinforcing operations, financial leasing decrease in available. Financial leasing firm pays 25% tax and also value addet tax. In leasing for car buying 23% and 40% value addet tax is taken, in other transportation vehicles 8% and for other properties 1% tax taken. As a result, financial leasing is a kind of finance means, which has been improved in Turkey in last years. Investment maker firms uses it as a flexible kind of money taking method. And it's considered as a contract organized by Law. Firms increases the value of the properties every year. So amortization amount also increases. But inflation in Turkey is very dangerous for finance firms. And also it's interesting that financial leasing firms are not accepted as finance establishment. Some firms uses (LIFO) last in first out method in stocks. It's accepted that financial leasing is a very useful and necessary method in finance. And it's developing in our country. So law matters and regulations are not enough for necessities. And also there are some handicaps which prevents financial leasing capacity to reach world standarts. As years passed some new regulations in law are necessary. So law makers see the importance of some changes more often. Because of this, some new facilities are sought. Turkish finance area will reach world standard and take its real place there.