Ministerial Decision No. 197/2024 On the Regulation of Accounting Treatment Provisions Related to Financial Leasing

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Abrogating:

Ministerial Decision No. 76/2020 dated 11/05/2020

Minister of State for Financial Affairs,

Pursuant to the perusal of the Constitution;

Federal Law No. 1/1972 on the Competencies of Ministries and the Powers of Ministers, and its amendments;

Federal Law No. 6/1985 on the Promulgation of the Civil Transactions Law, and its amendments;

Federal Decree-Law No. 32/2023 on Financial Leasing;

Ministerial Decision No. 76/2020 on the Regulation of the Accounting Standards for the Financial Leasing System; and

Based on the public interest requirements,

Hereby decides as follows:

Article 1 - Definitions

The definitions set forth in Federal Decree-Law No. 32/2023 referred to herein shall apply to this Decision. Additionally, the following terms and expressions shall have the meanings assigned to each of them, unless the context requires otherwise:

Decree-Law: Federal Decree-Law No. 32/2023 on Financial Leasing.

Short-Term Lease Contract: A lease agreement with a term not exceeding twelve (12) months from the commencement date.