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|German to English translations [Non-PRO]|
|German term or phrase: VermG|
|"VermG" - I assume this stands for "Vermögensgesetz"... What would be the UK equivalent? Any suggestions?|
|VermG - Gesetz zur Regelung offener Vermögensfragen (Vermögensgesetz)|
This is the official name of the Act.
I think the english equivalent would then be:
Due to the re-unification of Germany, property, which was expropriated during January 30, 1933 and October 7, 1998 against the rules of law, was extensively returned. The concerning law, according to which the restitution was applied and decided, is the Gesetz zur Regelung offener Vermögensfragen (law regulating unsettled property questions [Vermögensgesetz - VermG]) of September 23, 1990 (published in BGBl. II S. 885, 1159). (see 1st URL)
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Local time: 07:27
|Thanks a lot for the answer and great explanation...|
4 KudoZ points were awarded for this answer
18 mins confidence: peer agreement (net): +1
VermG = Vermögensgesetz = Capital Gains Act.
You're right in your assumption on what the abbreviation stands for, but then we hit the next problem - there are no direct equivalents for German laws in the UK - the legal systems are completely different. In Germany, law is codified, where as in the UK it is case-based.
There is an act in the UK called the "Taxation of Chargeable Gains Act" (see source below), but although the idea is the same it is not a direct equivalent.
Some states of the US have a "Capital Gains Act" (see second source), which is what I would go with here.
Whatever translation you choose, always put the German name in there too to avoid any confusion.