Glossary entry (derived from question below)
Catalan term or phrase:
deduccions en quota aplicades
English translation:
tax credits applied
Added to glossary by
Comunican
Jun 25, 2009 12:34
14 yrs ago
2 viewers *
Catalan term
deduccions en quota aplicades
Catalan to English
Bus/Financial
Finance (general)
tax audit
This is from an audit of a company's tax returns and affairs:
Here they are specifically talking about modelo 201 "Corporate Tax"
"Els pagaments a compte estàn correctament calculats I presentats.
Pel que fa el model 201, declaració anual, volem comentar el següent:
1.- En el càlcul de la quota de l’Impost, exercici 2006, s’ha aplicat com a tipus impositiu el 30% quan pel import del benefici corresponia aplicar el 25%, això suposa haver pagat uns 48 euros de més aproximadament.
2.- A l’exercici 2007, les deduccions en quota aplicades, per import de 150,19 euros representen un 30% de l’esmentada quota quan podia haver-se fet una deducció fins el 35%, límit legal."
Many thanks
Here they are specifically talking about modelo 201 "Corporate Tax"
"Els pagaments a compte estàn correctament calculats I presentats.
Pel que fa el model 201, declaració anual, volem comentar el següent:
1.- En el càlcul de la quota de l’Impost, exercici 2006, s’ha aplicat com a tipus impositiu el 30% quan pel import del benefici corresponia aplicar el 25%, això suposa haver pagat uns 48 euros de més aproximadament.
2.- A l’exercici 2007, les deduccions en quota aplicades, per import de 150,19 euros representen un 30% de l’esmentada quota quan podia haver-se fet una deducció fins el 35%, límit legal."
Many thanks
Proposed translations
(English)
| 4 | tax credits applied |
Ross Andrew Parker
|
Proposed translations
15 mins
Ross Andrew Parker
Native in English
Works in field
An eye for detail
Native in: English
Works in: Catalan to English, Spanish to English
Related KudoZ points
:
36
Selected
tax credits applied
http://www.google.com/#q="deducciones en cuota" "credits"&hl...
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Note added at 17 mins (2009-06-25 12:52:17 GMT)
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[PDF]
Euromod Country report - Spain
File Format: PDF/Adobe Acrobat - View as HTML
2.3.5 Tax Credits (Deducciones de Cuota). 2.3.5.1. Mortgage Tax Credit (Deducción de Cuota por Inversión en Vivienda Habitual) ...
www.iser.essex.ac.uk/files/msu/emod/.../countries/.../cr01s... - Similar -
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Note added at 19 mins (2009-06-25 12:54:13 GMT)
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La progresividad de la imposición sobre la renta - Page 12
by I. Argimón Maza, José Marín Arcas - Business & Economics - 1989 - 140 pages
... la transformación de las deducciones de los ingresos (tax allowances) en
deducciones de la cuota tributaria (tax credits); y la introducción de límites
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Note added at 1 hr (2009-06-25 13:48:14 GMT)
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Look where it says "créditos de impuestos" here:
Información comercial española - Page 122
by Spain. Ministerio de Comercio. Secretaría General Técnica, Spain. Ministerio de Industria y Comercio - Spain - 1990
... básicas de ayuda familiar en concepto de hijos: las deducciones en base, ...
las deducciones en base por deducciones en cuota o ***créditos de impuestos*** y, ...
Snippet view - About this book - Add to my library - More editions
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Note added at 1 hr (2009-06-25 13:51:36 GMT)
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[PDF]
¿Converge el Impuesto de Sociedades en la Unión Europea?
- [ Translate this page ]
File Format: PDF/Adobe Acrobat - View as HTML
caracterizan por la imposibilidad de aplicar créditos fiscales o deducciones en base por inversión con carácter general, si bien ésta es una característica ...
webpages.ull.es/users/ecopub10/ponencias/sociedades.pdf - Similar -
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Note added at 1 hr (2009-06-25 13:52:01 GMT)
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Quick definitions (tax credit)
▸ noun: a direct reduction in tax liability (not dependent on the taxpayer's tax bracket)
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Note added at 1 hr (2009-06-25 13:55:46 GMT)
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Tax credit
Definition - Noun
: an amount that may be subtracted from the sum of tax otherwise due and that is distinguished from a deduction applied to gross income in the calculation of taxable income
compare exemption
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Note added at 1 hr (2009-06-25 14:13:16 GMT)
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I also cite this answer provided by Rebecca Jowers (who to me represents the gold standard of reliability):
I have worked extensively with Spanish lawyers to translate Spanish tax terms and believe that I can accurately say that there are no exact equivalents on either the the US or UK corporation tax forms.
For US tax forms see: http://www.irs.gov/formspubs/index.html?portlet=3
For UK tax forms see:
http://www.hmrc.gov.uk/businesses/tmacorporate-tax.shtml
Thus to avoid misinterpretations I would suggest the following descriptive renderings based on your definitions:
cuota íntegra = total tax due
cuota líquida = total tax due minus tax credits*
cuota diferencial = total tax due minus tax credits, taxes withheld and prepayments (amount payable or refundable)
*"deducciones sobre la cuota" are called "tax credits" in English
Hope you find this useful.
--------------------------------------------------
Note added at 17 mins (2009-06-25 12:52:17 GMT)
--------------------------------------------------
[PDF]
Euromod Country report - Spain
File Format: PDF/Adobe Acrobat - View as HTML
2.3.5 Tax Credits (Deducciones de Cuota). 2.3.5.1. Mortgage Tax Credit (Deducción de Cuota por Inversión en Vivienda Habitual) ...
www.iser.essex.ac.uk/files/msu/emod/.../countries/.../cr01s... - Similar -
--------------------------------------------------
Note added at 19 mins (2009-06-25 12:54:13 GMT)
--------------------------------------------------
La progresividad de la imposición sobre la renta - Page 12
by I. Argimón Maza, José Marín Arcas - Business & Economics - 1989 - 140 pages
... la transformación de las deducciones de los ingresos (tax allowances) en
deducciones de la cuota tributaria (tax credits); y la introducción de límites
--------------------------------------------------
Note added at 1 hr (2009-06-25 13:48:14 GMT)
--------------------------------------------------
Look where it says "créditos de impuestos" here:
Información comercial española - Page 122
by Spain. Ministerio de Comercio. Secretaría General Técnica, Spain. Ministerio de Industria y Comercio - Spain - 1990
... básicas de ayuda familiar en concepto de hijos: las deducciones en base, ...
las deducciones en base por deducciones en cuota o ***créditos de impuestos*** y, ...
Snippet view - About this book - Add to my library - More editions
--------------------------------------------------
Note added at 1 hr (2009-06-25 13:51:36 GMT)
--------------------------------------------------
[PDF]
¿Converge el Impuesto de Sociedades en la Unión Europea?
- [ Translate this page ]
File Format: PDF/Adobe Acrobat - View as HTML
caracterizan por la imposibilidad de aplicar créditos fiscales o deducciones en base por inversión con carácter general, si bien ésta es una característica ...
webpages.ull.es/users/ecopub10/ponencias/sociedades.pdf - Similar -
--------------------------------------------------
Note added at 1 hr (2009-06-25 13:52:01 GMT)
--------------------------------------------------
Quick definitions (tax credit)
▸ noun: a direct reduction in tax liability (not dependent on the taxpayer's tax bracket)
--------------------------------------------------
Note added at 1 hr (2009-06-25 13:55:46 GMT)
--------------------------------------------------
Tax credit
Definition - Noun
: an amount that may be subtracted from the sum of tax otherwise due and that is distinguished from a deduction applied to gross income in the calculation of taxable income
compare exemption
--------------------------------------------------
Note added at 1 hr (2009-06-25 14:13:16 GMT)
--------------------------------------------------
I also cite this answer provided by Rebecca Jowers (who to me represents the gold standard of reliability):
I have worked extensively with Spanish lawyers to translate Spanish tax terms and believe that I can accurately say that there are no exact equivalents on either the the US or UK corporation tax forms.
For US tax forms see: http://www.irs.gov/formspubs/index.html?portlet=3
For UK tax forms see:
http://www.hmrc.gov.uk/businesses/tmacorporate-tax.shtml
Thus to avoid misinterpretations I would suggest the following descriptive renderings based on your definitions:
cuota íntegra = total tax due
cuota líquida = total tax due minus tax credits*
cuota diferencial = total tax due minus tax credits, taxes withheld and prepayments (amount payable or refundable)
*"deducciones sobre la cuota" are called "tax credits" in English
Hope you find this useful.
Note from asker:
| Hi Ross, thanks for your answer - much appreciated as always. I looked up tax credits and Wikipedia says: "The term tax credit describes two different concepts: * The first is a recognition of partial payment already made towards taxes due. * The second is a state benefit paid to workers through the tax system, which has the effect of increasing (rather than reducing) net income." My feeling is that in my case, they are referring to things they can deduct (or maybe offset) for tax purposes rather than payments actually made... though I'm not sure. I've also posted this as a Spanish>English question to open up the debate a bit... :-) Thanks! |
4 KudoZ points awarded for this answer.
Comment: "Thanks again"
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