Draft guideline Leasing

Today, the Draft Leasing Guideline (amended RJ292) was published by the Dutch Accounting Standards Board (DASB, Dutch: RJ).

Procedure for further consultation:
This draft guideline is open for comment until the end of February 2019.
The RJ Working  Group on Leases thereafter examines the comments received and, where appropriate, makes proposals to the Board, after which the Board adopts the final version of the Guideline. The amended Guideline 292 will then be included in the bundle of Guidelines 2019.

Enforcement date
The enforecment date of the amended Guideline is proposed for financial years starting on or after 1 January 2020, with earlier application allowed, if desired.

What will change?
Determine  whether an agreement contains a lease:
With IFRS16 becoming mandatorily into force as of 1 January 2019 for listed companies or those who voluntarily choose to do so, a part (IFRIC4-Determining whether an arrangement contains a lease-) will lapse. As a result, amendments to the Dutch guideline are required. The Board expects a limited impact on companies.

Transitional provision:
1. Existing leases do not need to be reassessed against the new rules;
2. If the company opts for it, the new provisions for  agroup (category) of assets may be applied retroactively.

Information in the notes:
The Board suggests a stricter character of including information in the notes on lease agreements entered into. The Board expects that the information to be disclosed on leases would correspond to what, for example, financial institutions are already requesting.

For questions and a copy of the draft guideline in Dutch: Please contact Tweuus.