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extourner extra-comptablement

English translation: (in this specific context): cancel/reverse (for tax purposes)

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15:55 Feb 3, 2009
French to English translations [PRO]
Bus/Financial - Accounting / Tax
French term or phrase: extourner extra-comptablement
Any accountants out there?

A parent company made loans to a subsidiary and subsquently waived the debt with a "return to profits" clause. The document I am translating is on the subject of the tax treatment of the waiver of debt.

A supposer que XXXX SA s’engage, suivant le modèle joint, à procéder à une augmentation de son capital dans les deux ans au bénéfice de XXX EU pour un montant au moins égal à l’aide reçue d’elle en 2008 (soit 500.000 €), XXXX SA pourra extourner extra-comptablement cette somme sur sa déclaration 2058 A de telle sorte qu’elle ne soit pas imposée.

I know that "extourner" can means "making a reverse entry" and "extra-comptable" means "not recorded in the regular accounts", but I am not sure what these two words together mean here.
Mary Lalevee
United Kingdom
Local time: 21:40
English translation:(in this specific context): cancel/reverse (for tax purposes)
Explanation:
Not that sure as it's a long time since I worked in a tax consulting office... but I think the point is that the amount is to be reversed in the tax accounts but not the financial accounts. (In France, the two are generally identical, with not that many exceptions)
Since they refer to a form that is specifically a tax form, I would even suggest not bothering including any term for "extra comptablement" and saying something along the lines of "can cancel/reverse/deduct this sum on (tax) form 2058A..."
HTH

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Note added at 4 days (2009-02-08 11:05:40 GMT) Post-grading
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Buzzy
Local time: 22:40
Grading comment
Thanks Buzzy.
4 KudoZ points were awarded for this answer

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Summary of answers provided
3(in this specific context): cancel/reverse (for tax purposes)Buzzy
3to make a reverse entry outside of the accounts
anne wagner-findeisen


Discussion entries: 1





  

Answers


20 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
to make a reverse entry outside of the accounts


Explanation:
I think you have it right already;

anne wagner-findeisen
United States
Local time: 16:40
Works in field
Native speaker of: Native in EnglishEnglish, Native in PolishPolish
PRO pts in category: 2
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in this pair and field What is ProZ.com Project History(SM)?
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2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
(in this specific context): cancel/reverse (for tax purposes)


Explanation:
Not that sure as it's a long time since I worked in a tax consulting office... but I think the point is that the amount is to be reversed in the tax accounts but not the financial accounts. (In France, the two are generally identical, with not that many exceptions)
Since they refer to a form that is specifically a tax form, I would even suggest not bothering including any term for "extra comptablement" and saying something along the lines of "can cancel/reverse/deduct this sum on (tax) form 2058A..."
HTH

--------------------------------------------------
Note added at 4 days (2009-02-08 11:05:40 GMT) Post-grading
--------------------------------------------------

Thanks for adding the note to tell us what your reviewer advised!

Buzzy
Local time: 22:40
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 58
Grading comment
Thanks Buzzy.
Login to enter a peer comment (or grade)




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