Foreign currency Lease contracts

The series of Lease Implementation Dilemmas deals, among other things, with Lease contracts in currencies other than the administration currency, in relation to IFRS16.

As is well known, IFRS16 will have impact on current and future operating leases.

The accompanying article discusses the dilemmas that can arise with foreign currency lease contracts, such as:
– currency risks and exchange rates,
– applicable discount rate for the initial value,
– reporting of leased assets and lease costs.

This article was created using reactions to the draft version and gives concrete suggestions as best practices.

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In the series of Lease Implementation Dilemmas, the  below dilemma has also been addressed earlier:
Non-refundable VAT