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affiliate/subsidiary BUT...

Spanish translation: subsidiaria; afiliado

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17:55 May 19, 2002
English to Spanish translations [Non-PRO]
Bus/Financial - Finance (general) / banking
English term or phrase: affiliate/subsidiary BUT...
Speaking about banks under the Canadian banking regulations.

Thanks in advance,
Aurora Humarn
Spanish translation:subsidiaria; afiliado
Explanation:
the difference:

subsidiary: the parent company holds more than 50% of the shares.

affiliate: one company owns less than a majority of the voting stock of the other company or both companies are subsidiaries of the same third company.

See Barron's financial for a more thorough description.
Selected response from:

Marian Greenfield
Local time: 10:04
Grading comment
Gracias Marian, yo me intuía que tenía que ver con % y en definitiva con CONTROL.
Aurora
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +2filial/subsidiaria PERO...
Henry Hinds
5 +1subsidiaria; afiliado
Marian Greenfield
4 +1sucursales afiliadas, subsidiarias
BelkisDV
4 +1Sucursales/Agencias/SubsidiariasSusyZ
3sucursales afiliadaselenali


Discussion entries: 1





  

Answers


22 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
Sucursales/Agencias/Subsidiarias


Explanation:
Experience


    Reference: http://www.google.com/search?lr=&cr=&q=sucursales+de+banco&h...
SusyZ
Local time: 10:04
Native speaker of: Native in SpanishSpanish

Peer comments on this answer (and responses from the answerer)
agree  Francisco Adell
20 hrs
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24 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
filial/subsidiaria PERO...


Explanation:
Serviría algo de contexto, pero...


    Exp.
Henry Hinds
United States
Local time: 08:04
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 567

Peer comments on this answer (and responses from the answerer)
agree  José Luis Villanueva-Senchuk: pero...of course...el contexto ayudaría mucho :-)) Cheers...
2 mins
  -> Algo ayudaría, gracias y ¡Salud!

agree  Maria Dolors Gonzálvez Playà
43 mins
  -> Gracias, M. Dolors.
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27 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
sucursales afiliadas, subsidiarias


Explanation:
Aurora, significa lo mismo, ve las referencias que te cito:



Ernst & Young LLP Tax Alert
Taxation of Foreign Bank Branches — Update

On June 14, 2001, numerous amendments to Canada's Income Tax Act (Act) were passed into law when Bill C-22 received Royal Assent. Bill C-22 included amendments to the Act related to the taxation of foreign bank branches that were initially released as draft legislation (Draft Legislation) on August 8, 2000. This Tax Alert highlights the key changes between the Draft Legislation and the Bill C-22 amendments with respect to the taxation of the operations of a foreign bank branch and the transitional rules for the transfer of the business of an existing Canadian banking subsidiary to a branch of a foreign bank. The amendments to the Act made by Bill C-22 that affect foreign banks are generally effective after June 27, 1999. A more detailed review of the taxation of foreign bank branches can be found in our Global Financial Services bulletin entitled Foreign Bank Branches in Canada: Impact and Opportunities issued in January 2001.



Taxation of Branch Operations

Relevance of OSFI Financial Statements: As amended by Bill C-22, the Act now specifies that the starting point for the computation of the income earned by an "authorized foreign bank" from its "Canadian banking business" is the profit computed using the bank's "branch financial statements." An "authorized foreign bank" means a foreign bank in respect of which an order under subsection 524(1) of the Bank Act has been made. The "branch financial statements" generally mean the unconsolidated financial statements for the year that form part of the bank's annual report for the year to the Office of the Superintendent of Financial Institutions (OSFI), or statements that are prepared in a manner consistent with such statements. In determining the branch's income for Canadian tax purposes, the profit reported on the branch financial statements must, however, be adjusted in accordance with the rules in Part I of the Act.

Meaning of Canadian Banking Business: A foreign bank will be subject to tax in Canada on the income earned from its Canadian banking business. The Draft Legislation introduced the term "Canadian banking business" and defined it to mean the business carried on by an authorized foreign bank through a permanent establishment in Canada. Bill C-22 narrowed the definition of Canadian banking business by excluding a business conducted through a representative office registered under section 509 of the Bank Act.

Capital Tax Base: The Draft Legislation proposed that an authorized foreign bank not be permitted, in computing its capital tax liability under Parts I.3 and VI of the Act, to pro-rate its capital base by the ratio of its Canadian assets to its total assets. The pro-ration of an authorized foreign bank's capital was initially seen as unnecessary, since its taxable capital was to be computed solely by reference to the bank's Canadian banking business. This proposal was not included in Bill C-22 and, consequently, an authorized foreign bank will be able to pro-rate its capital base by the ratio of the branch's Canadian assets at the end of the year to its total assets in the same way that domestic banks can.

Dispositions of Taxable Canadian Property: Section 116 of the Act sets out the withholding tax procedures that must be followed by a purchaser who acquires "taxable Canadian property" from a non-resident of Canada. These procedures do not apply to property that is "excluded property." Bill C-22 amended the definition of excluded property to include property of an authorized foreign bank that is used or held in the course of the bank's Canadian banking business. Therefore, a purchaser that acquires property from an authorized foreign bank that was used or held in the course of the bank's Canadian banking business will not be subject to the withholding requirements.

Qualified Investments and Foreign Property for Deferred Income Plans: In order to avoid negative tax consequences, registered retirement savings plans (RRSPs), registered retirement income funds (RRIFs), registered education savings plans (RESPs) and deferred profit sharing plans (DPSPs) must restrict their investments to qualified investments, as defined in the Act. The Draft Legislation proposed to amend the definition of a qualified investment to include deposits with a Canadian branch of an authorized foreign bank. Bill C-22 expanded the definition of a qualified investment to also include a bond, debenture, note or similar obligation issued by an authorized foreign bank and payable at a Canadian branch of the bank.

RRSPs, RRIFs, DPSPs and registered pension plans are subject to a special tax if the cost amount of "foreign property" held by the plan at the end of a month exceeds certain prescribed limits. The Draft Legislation proposed to amend the definition of foreign property to exclude a deposit with a Canadian branch of an authorized foreign bank. Bill C-22 extended this exclusion to all indebtedness issued by an authorized foreign bank and payable at a Canadian branch of the bank.

http://www.ey.com/GLOBAL/gcr.nsf/Canada/Library_Tax_TA01-07
Transfer of an Existing Business to a Branch

The Draft Legislation announced special time-limited transitional rules that would eliminate potential negative tax consequences that could arise on the transfer of an existing business carried on in a Canadian subsidiary to a Canadian branch of the foreign bank. Provided the required conditions are met, these transitional rules permit:
transfer of property from the subsidiary to the branch and the assumption of liabilities of the subsidiary by the branch to occur on a tax-deferred basis;
payment of a dividend by the subsidiary to occur without being subject to Canadian withholding tax at the time of payment; and
carryover of accumulated losses of the subsidiary to the branch.


School of Continuing Education | Affiliate Programs | ICB
... Affiliate Programs. ... Associate of the Institute of Canadian Bankers (AICB) designation
can ... Economics 3150 - Money and Banking Economics 4011 - Economic Planning ...
http://www.ce.mun.ca/ppd/icb.html

http://www.bmo.com/privacy/content.html
Sharing Your Personal Information
Your personal information is shared, to the extent permitted by law, within the Bank of Montreal Group of Companies1 (that is, the Bank and its subsidiaries and affiliates) which provide deposit, loan, investment, securities, brokerage, insurance, trust and other products and services. With this more comprehensive understanding, we are better able to meet your needs as they grow and change.





    Reference: http://www.bmo.com/privacy/content.html
BelkisDV
United States
Local time: 10:04
Native speaker of: Native in SpanishSpanish
PRO pts in category: 16

Peer comments on this answer (and responses from the answerer)
agree  Marqui?o
9 mins
  -> Gracias
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2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
sucursales afiliadas


Explanation:
branches se usa mucho en Canada y nosotros les llamamos sucursales, podrias poner junto sucursales afiliadas a xx banco o de xx banco, no?
Suerte y saludos

elenali
Native speaker of: Native in SpanishSpanish
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19 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
subsidiaria; afiliado


Explanation:
the difference:

subsidiary: the parent company holds more than 50% of the shares.

affiliate: one company owns less than a majority of the voting stock of the other company or both companies are subsidiaries of the same third company.

See Barron's financial for a more thorough description.

Marian Greenfield
Local time: 10:04
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 801
Grading comment
Gracias Marian, yo me intuía que tenía que ver con % y en definitiva con CONTROL.
Aurora

Peer comments on this answer (and responses from the answerer)
agree  LoreAC
1 day8 hrs
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