DECISION TREE FOR THE DETERMINATION OF CHANGE IN ECONOMIC OWNERSHIP AND RECORDING OF TRANSACTIONS OF SHIPS AND AIRCRAFTS IN TRADE IN GOODS
AND TRADE IN SERVICES
Leasing
agreement?
Yes
Yes
Dry lease?
es
es
No change of economic ownership as
the asset is not leaving the accounts
of the lessor and not entering the
accounts of the lessee ( IAS17)?
No
Operational leasing?
The company does not follow the
IAS17?
No
Financial leasing?
Change of ownership as the
asset is leaving the accounts
of the lessor and entering
the accounts of the lessee
( IAS17)?
No
Wet lease:
Short-term leasing,
voyage charter,
timecharter…
Flagging
Yes
Yes
Not include in goods. Include in
services (operational leasing
services)
Yes
es
No
Further investigation required
Yes
Bareboat/demise
Yes
On „open register“?
No change of economic ownership as the asset is not
leaving the accounts of the owner ( IAS17)?
Yes
Include
in goods
Yes
Yes
TFSA criteria. Change of economic
ownership?
No
Yes
es
Not Include in goods. Include in
services (transportation services)
Yes
Not included (no
transaction)
No
No
Through legal unit?
Change of ownership as the asset is leaving the
accounts of the parent company and entering the
accounts of the subsidiary where the asset will be
registered ( IAS17)?
General change of ownership
(buying and selling)?
Yes
Include in
goods
Yes
Include in
goods
Regarding sales-lease back, the sale should be
reported as export/import in trade in goods and the
lease back should be reported in goods if the terms
are financial lease, otherwise in services.