A mere put option by the lessor at a favorable price does not necessarily lead to the attribution of economic ownership of the assets to the lessee. In its judgment the Supreme Tax Court once more confirms that economic ownership must be determined on a case-by-case basis. Continue reading
Tax & Legal
The finance ministry has decreed that a motor vehicle dealer who has undertaken to buy back a vehicle from a customer must take up the option premium as a liability to be released on expiry of the option.