Alb leasing council january 31 2012 alb hq
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ALB Leasing Council January 31, 2012 ALB HQ. Technical committees -report of activity-. Agenda. Main debated topics and implemented actions Most debated topics Most active committee Conclusion. 1) Main debated topics and implemented actions Fiscal and accounting topics. Accounting

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ALB Leasing Council January 31, 2012 ALB HQ

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Alb leasing council january 31 2012 alb hq

ALB Leasing CouncilJanuary 31, 2012ALB HQ

Technical committees

-report of activity-


Agenda

Agenda

  • Main debated topics and implemented actions

  • Most debated topics

  • Most active committee

  • Conclusion


1 main debated topics and implemented actions fiscal and accounting topics

1) Main debated topics and implemented actionsFiscal and accounting topics

Accounting

  • Debates related to the IFRS transition

    • Training with KPMG

  • NBR Order 26 concerning the treatments of recovered goods from early termination of the leasing contracts

    • Topic on the agenda of several fiscal committees

    • Training with KPMG

    • Several letters sent to NBR

  • Update on ALB - KPMG accounting monographs

    • Established meeting with KPGM for working on monograph

      Fiscal

  • VAT treatment concerning non-recovered goods from cancelled leasing contracts

    • Present on agenda of several fiscal committees

    • Started the infringement procedure on VAT at European Commission

  • Other debates on Romanian Tax Code

    • Local taxes on real-estate properties and vehicles in case of early termination of the contract

    • Treatment concerning the fines of the leasing contract user


1 main debated topics and implemented actions juridical topics

1) Main debated topics and implemented actionsJuridical topics

  • Law approving GO 50/2010 on consumer credit agreements – reviews and comments

    • Seminars with ANPC

    • Letters to ANPC

  • Law project on Debts collection

    • Working document with AMCC-AOMR. Project in stand-by.

  • Updating the leasing law

    • Topic on the agenda of several legal committees

    • Several working-group meetings

  • Changes on Fiscal Code – VAT

    • Infringement procedure initiated by ALB

  • Compensatory interests perceived by some custom points

    • Meetings with Ministry of Finance

  • Fines due to not having the Romanian vignettes perceived through the CESTRIN electronic system

    • Letter to CNADNR

  • New Civil Code

    • Seminar with Voicu & Filipescu

    • Topic on the agenda of several legal committees

    • Future seminar to be organized with Stoica and Associates


1 main debated topics and implemented actions juridical topics1

1) Main debated topics and implemented actionsJuridical topics

  • ALB letter to the German authorities on fraudulent registration of some vehicles in Germany

  • Analysis of the NBR answer concerning the interpretation of some stipulations of the Order 26/2010 on NBFI according standards

    • Joint Committee (Legal and Fiscal) to analyze the legal framework

  • NBR Regulation no. 24/2011 concerning the credits granted to individuals

    • Letter to NBR

    • Debates and interpretations on the text of the law in few meetings of the legal committee


1 main debated topics and implemented actions logistic committee

1) Main debated topics and implemented actionsLogistic committee

  • Compensatory interests imposed by some customs points

    • Meetings with Ministry of Finance and Custom Authorities

  • Local Taxes and Fines – date of imposition

    • Meetings with Ministry of Finance

  • The erasure of registration in case of early terminated contracts

    • Discussions and meetings with Police authority

    • Future lobby actions in Romanian Parliament

  • Impact of the compensatory interests related to the financial leasing contracts initiated from August 2006 to January 2007

    • Survey

  • Vehicles fraudulently registered outside Romania. Recovery procedures

    • Debates and letter to German authorities

  • The new Road Code

    • discussion and analysis

    • Future lobby in Parliament

  • The fines for not holding a vignette incorrectly perceived from the leasing companies

    • Letter to CNADNR


1 main debated topics and implemented actions logistic committee1

1) Main debated topics and implemented actionsLogistic committee

  • The new pollution tax

    • Lobby process initiated to Ministry of Environment

  • TRANSBORDER CRIMES

    • Meeting with Mr. Chief Commissioner Marian Iorga, Head of Department for stolen vehicles, D.G.P.M.B.

  • Local taxes imposed to vehicles that are objects of cancelled leasing contracts

    • Meeting with Ministry of Finance

    • Letter proposing the change the Norms of the Fiscal Code

  • ALB – DGPMB collaboration

    • Meeting with Head of DGPMB (Bucharest’s General Police Department)


1 main debated topics and implemented actions antifraud topics

1) Main debated topics and implemented actionsAntifraud Topics

  • ALB-IGPR cooperation agreement – updates on issues related to the surveillance of the theft leased goods

    • Debates and proposals for improving the collaboration with IGPR

    • New procedure implemented with IGPR

  • Viable solutions for anti-fraud policies

    • the presentation of the Real Time SRL and Dios Detective SRL services, societies specialized in collecting and recovering commercial and civil claims and respectively in investigation activity

    • IGPR request for ALB database on early terminated contracts


1 main debated topics and implemented actions risk topics

1) Main debated topics and implemented actionsRisk Topics

  • Regulation project concerning the classification of the credits and the settlement, regulation and use of provisions specific to the credit risk applicable to entities supervised by the NBR, other than the credit institutions.

    • Letter to NBR for changing the adjustment coefficient of real intrinsic guarantees from 25% to 74%

  • Study on the impact of the law approving EGO 50/2010 on industry

  • Updates on NBR regulation no. 3 concerning the individual crediting

  • NBR regulation no. 20 concerning NBFI activity

  • List of topics for ONPCSB training

  • Meeting with IGPR antifraud experts

  • Study of the EU Implementation Basel III. Draft legislative Proposals

  • Appliance of the banking prudential requirements within the context of the IFRS

  • Analyst of the NBR Regulation Concerning the credits of the individuals

  • Project of the regulation concerning the classification of credits and investments as well as establishing an using the value of prudential adjustment

  • Second-hand vehicle market: Evaluating ways of the market risk on short and average term; Evaluating ways of the just value and of the residual value in the leasing contract


1 main debated topics and implemented actions marketing topics

1) Main debated topics and implemented actionsMarketing Topics

  • Updates on leasing reporting model

    • Modification of the reporting model

    • Definition and interpretation of the terms according to the new reporting model of ALB

  • Identifying ways of promoting the leasing industry

  • Debates concerning the ALB National Conference. Proposals for promoting the event.

  • Proposals for the Annual Year Book titles of the articles.

  • Interpretation of leasing industry results for different periods of 2011


2 most debated topics

2) Most debated topics

  • NBR order no. 26 concerning the accounting rules

  • Updates on leasing law

  • VAT treatment and updates on infringement procedure

  • Local taxes on real-estate and vehicles in case of early termination of the contract

  • New Civil Code

  • The new Road Code

  • ALB- IGPR collaboration

  • Regulation project concerning the classification of the credits and the settlement, regulation and use of provisions specific to the credit risk applicable to entities supervised by the NBR, other than the credit institutions.


3 most active committee

3) Most active committee

Members attendance rate


4 conclusion

4) Conclusion

1.Need for standard agenda for each committee according to – 2012 industry list of priorities

2.Need for standard “expert profile” for each committee

3.Need for decision related to the role and functioning of

  • Antifraud committee

  • Marketing committee

  • Risk committee


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