| a Financial leasing covers operations where the lease instalments are calculated in such a way as to cover all or virtually all of the value of the goods. The risks and rewards of ownership are transferred to the lessee. At the end of the contract the lessee becomes the legal owner of the goods. | |
| b Processing covers operations (transformation, construction, assembling, enhancement, renovation …) with the objective of producing a new or really improved item. This does not necessarily involve a change in the product classification. Processing activities on a processor’s own account are not covered by this item and should be registered under item 1 of column A.’” | |
| A | B |
|---|---|
1.Transactions involving actual or intended transfer of ownership from residents to non-residents against financial or other compensation (except the transactions listed under 2, 7 and 8) | 1.Outright purchase/sale2.Supply for sale on approval or after trial, for consignment or with the intermediation of a commission agent3.Barter trade (compensation in kind)4.Financial leasing (hire-purchase)a9.Other |
2.Return and replacement of goods free of charge after registration of the original transaction | 1.Return of goods2.Replacement for returned goods3.Replacement (e.g. under warranty) for goods not being returned9.Other |
3.Transactions involving transfer of ownership without financial or in kind compensation (e.g. aid shipments) | |
4.Operations with a view to processingb under contract (no transfer of ownership to the processor) | 1.Goods expected to return to the initial Member State of dispatch2.Goods not expected to return to the initial Member State of dispatch |
5.Operations following processing under contract (no transfer of ownership to the processor) | 1.Goods returning to the initial Member State of dispatch2.Goods not returning to the initial Member State of dispatch |
6.Particular transactions recorded for national purposes | |
7.Operations under joint defence projects or other joint intergovernmental production programs | |
8.Transactions involving the supply of building materials and technical equipment under a general construction or civil engineering contract for which no separate invoicing of the goods is required and an invoice for the total contract is issued | |
9.Other transactions which cannot be classified under other codes | 1.Hire, loan, and operational leasing longer than 24 months9.Other |