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laufende Steuern auf einer Nettobasis begleichen

English translation: taxable entities which intend to settle current tax liabilities and assets on a net basis

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12:27 Mar 25, 2007
German to English translations [PRO]
Bus/Financial - Accounting
German term or phrase: laufende Steuern auf einer Nettobasis begleichen
Eine Verrechnung von Latenten Ertragssteuerguthaben und -verbindlichkeiten sollte nur dann erfolgen, wenn laufende Steuern rechtlich verrechenbar sind und die zugehörigen Latenten Steuern in Beziehung zu laufenden Steuern der gleichen Steuerbehörde stehen, die entweder auf dem gleichen Steuerobjekt erhoben werden oder auf verschiedenen Steuerobjekten, die entweder beabsichtigen laufende Steuern auf einer Nettobasis zu begleichen oder Steuerguthaben und -verbindlich-keiten gleichzeitig zu realisieren.

Context: accounting standards

MT.
markj
English translation:taxable entities which intend to settle current tax liabilities and assets on a net basis
Explanation:
IAS 12.74:

"An entity shall offset deferred tax assets and deferred tax liabilities if, and only if:
(a) the entity has a legally enforceable right to set off current tax assets against current tax liabilities; and
(b) the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either:
(i) the same taxable entity; or
(ii) different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered."

Another interesting bit of terminology here is "Steuerobjekt". In IAS 12, this is referred to as a "taxable entity", synonyms for which are "tax entity" and "fiscal entity". The latter term is of interest to translators because it's probably the most frequent *mis*translation of the German term "Organschaft".
Selected response from:

RobinB
Germany
Local time: 12:01
Grading comment
Thanks.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1taxable entities which intend to settle current tax liabilities and assets on a net basisRobinB


Discussion entries: 2





  

Answers


2 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
Steuerobjekte, die beabsichtigen laufende Steuern auf einer Nettobasis zu begleichen
taxable entities which intend to settle current tax liabilities and assets on a net basis


Explanation:
IAS 12.74:

"An entity shall offset deferred tax assets and deferred tax liabilities if, and only if:
(a) the entity has a legally enforceable right to set off current tax assets against current tax liabilities; and
(b) the deferred tax assets and the deferred tax liabilities relate to income taxes levied by the same taxation authority on either:
(i) the same taxable entity; or
(ii) different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered."

Another interesting bit of terminology here is "Steuerobjekt". In IAS 12, this is referred to as a "taxable entity", synonyms for which are "tax entity" and "fiscal entity". The latter term is of interest to translators because it's probably the most frequent *mis*translation of the German term "Organschaft".

RobinB
Germany
Local time: 12:01
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 909
Grading comment
Thanks.

Peer comments on this answer (and responses from the answerer)
agree  Ted Wozniak: hard to disagree :-)
1 hr
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Changes made by editors
Mar 26, 2007 - Changes made by Steffen Walter:
Term askedbeabsichtige laufende Steuern auf einer Nettobasis zu begleichen » laufende Steuern auf einer Nettobasis begleichen


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