REGULATORY FRAMEWORK, ACCOUNTING AND TAX TREATMENT OF SUBLEASE IN TRANSPORT ENTERPRISES

Magdalena Petrova-Kirova

Scientific paper ID 2097 : 2021/3

REGULATORY FRAMEWORK, ACCOUNTING AND TAX TREATMENT OF SUBLEASE IN TRANSPORT ENTERPRISES

Magdalena Petrova-Kirova

The following report examines the re-lease agreement‘s regulatory and accounting frameworks. The potential opportunities are presented so as to utilize the contract as a means of optimising the enterprises’ activity. The re-leasing agreement or the so called sublease is within the scope of IFRS 16 Leases which is in accordance with the European Union’s Regulation (EU) № 2017/1986 and it is of great significance for the majority of business organizations using leases as the main means of financing including transport enterprises insuring their basic activity with means of transport. By dint of lease, enterprises have the opportunity to utilize non-current assets without significant initial money-generating investments. Irrespective of the lease payments’ rescheduling over time in terms of finance, respectively operating lease, the monthly financial costs remain part of the enterprises’ fixed costs which they carry out regardless of the volume of activity. The economic crisis in the last year caused by the Covid-19 pandemic has affected various economic sectors to varying degrees both in Bulgaria and worldwide. According to the management-accounting analysis, the economic reality and the existing dependence “costs - volume - profit” force some of the enterprises to reduce the amount of fixed costs as part of the total costs for the enterprise, thus minimising the risk of bankruptcy.

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преотдаване договор за сублизинг отчитанеre-leasing sublease agreement reportingMagdalena Petrova-Kirova

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