| GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | | English term or phrase: | return-to-provision analysis | | Spanish translation: | análisis del ajuste a la previsión por impuestos | | Entered by: |   Karina Garcia Pedroche |
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English to Spanish translations [PRO]
Bus/Financial - Accounting | | English term or phrase: return-to-provision analysis | | No much context. I found it's a very usual term in the financial area, but could not come accross its translation. |
| | | análisis del ajuste a la previsión por impuestos | Explanation:
It is a reconciliation of the tax return (actual tax) to the tax provisions on the balance sheet
During the quarter we recognized a tax benefit from what is known as a return to provision adjustment, which was related to intercompany transactions. Well what does that mean? A return to provision adjustment is made in conjunction with the preparation of the corporate tax return. This adjustment balances the tax provision on the company’s books which was estimated at year end with the amounts of the actual tax return which is prepared months later.
Since the second fiscal quarter had seasonally low pre-tax income, discreet items or changes to tax assets and reserves have a more significant impact on the corporation’s quarterly effective tax rate. As a result of this item that benefited taxes this quarter and additional tax planning efforts that we currently anticipate will be completed this fiscal year, we expect a lower tax rate than the rate we had initially planned. If these anticipated items occur, our full-year tax rate could be around 30% |
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patinba
Argentina
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