Unclassified COM/STD/DAF(2012)27/ADD1 COM/STD/DAF(2012)27/ADD1 Unclassified Organisation de Coopération et de Développement Économiques Organisation for Economic Co-operation and Development 25-Sep-2012 English - Or. English Directorate for Financial and Enterprise Affairs Statistics Directorate Working Party on Financial Statistics SPE decision tree Common day To be held on 3 October 2012 OECD Conference Centre Beginning at 9:00 a.m. This document has been prepared by Maria Piszczek (Statistics Netherlands) and will be presented under item 4 of the draft agenda The complete document is only available in PDF format English - Or. English JT03326812 Complete document available on OLIS in its original format This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.
COM/STD/DAF(2012)27/ADD1 2
SPE decision tree Maria Piszczek (Statistics Netherlands) 3 October 2012
SPE decision tree 1. History 2. Decision tree 3. Example 1: Fish BV 4. Example 2: Catfish BV 5. Example 3: Miss NV 6. Summary 1
History - Cooperation with DNB (Dutch Central Bank) - First decision tree 2006 and SPE working group - Agreements concerning collection of the data and maintenance of the population - New guidelines SNA 2008 2
Decision tree - Consists now of two parts: - First part to classify entity as SPE or non SPE - Second part to classify entity as CFI or non CFI - Criteria in the tree - Balance sheet variables - Turnover and costs (from profit and loss) - Not all SPEs are pure SPEs 3
Example 1: Fish BV Fish US Inc Fish Dutch BV Fish Lux Sarl 4
SPE decision tree: Fish Dutch BV Holding company Balance: 1,2 billion Assets: 1,1 billion financial assets Liabilities: 750 million shareholder s equity 440 million loans Employees: 0 Income: 15 million Fish US Inc Fish Dutch BV Fish Lux Sarl Costs: 9 million 5
SPE decision tree: Fish Dutch BV Does at least 90% of the turnover and of the liabilities concern foreign countries? NO; YES liabilities Do the financial assets and financial liabilities of the LE consist of at least 90% of foreign assets/liabilities? YES Assets: 92% Liabilities: 99% Is the annual turnover of LE more than 25 million? NO Fish US Inc Fish Dutch BV Fish Lux Sarl Conclusion: Fish Dutch BV is SPE/CFI 6
Example 2: Catfish BV Marketing and sales of contact fish products Net turnover: 286 million Cost of sales: 197 million Gross profit: 88 million Other expenses: 67 million Financial income: 48 million Profit before taxation: 69 million 267 employees Catfish US Inc Catfish BV Catfish Lux Sarl 7
SPE decision tree: Catfish BV Do the financial assets and financial liabilities of the LE consist of at least 90% of foreign assets/liabilities? YES Assets: 92% Liabilities: 99% Is the annual turnover of LE more than 25 miillion? YES Catfish US Inc Catfish BV Catfish Lux Sarl Conclusion: Catfish BV is Non-Financial Corporation 8
Example 3: Miss NV Miss NV Miss Abroad Ltd Miss NL BV All Miss BV Little Miss BV Another Miss BV 9
CFI decision tree: Miss NV Is LE a SPE? NO Is Legal Entity (LE) a holding company/finance company/treasury without management/administration tasks? YES Does the LE have (direct/indirect) a domestic parent itself is not a CFI? NO Miss Abroad Ltd Miss NV Miss NL BV All Miss BV Little Miss BV Another Miss BV 10
CFI decision tree: Miss NV Is the Legal Entity (LE) with its domestic financial assets / liabilities primarily oriented (direct / indirect) towards non-spe intra-group subsidiaries? YES Miss Abroad Ltd Miss NV Miss NL BV All Miss BV Miss NV is artificial of Miss concern and belongs to sector non-financial corporations Another Miss BV Little Miss BV 11
Summary Cooperation with Dutch Central Bank (DNB) regarding SPE population Harmonisation between DNB Balance of Payments data and Statistics Netherlands (CBS) Sector Accounts and Rest of the World Accounts Decision tree helps us to identify SPE and CFI 12