В статье исследуются конкурентные налоговые преимущества использования лизинга по сравнению с кредитом на основе выявления сути расходов, возникающих при дан- ных способах финансирования. При описании схем денежных потоков двух вариантов финансирования конкурентное преимущество обнаруживается на основе показателя дисконтированной стоимости.
The article explores the сompetitive tax advantages of leasing compared with a loan on the basis of identifying the costs arising from these models of financing. The the сompetitive advantage is analyzed by determining the indicator of the present value. There are the flow cash schemes of two types of financing on the basis of which we can do a conclusion that the financing with the use of leasing is more «expensive», but more effective and profitable. This becomes possible by reducing the taxable base for the income tax in the amount of leasing payments.
The authors declare that there are no conflicts of interest present.