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17:15 May 15, 2002
German to English translations [PRO] Bus/Financial
German term or phrase:Bruttoverfahren
"Der Steuerabzug wird nach den Bruttoverfahren durchgeführt."
The idea (I believe) is that an honorarium amount is calculated to include VAT, and then the tax is deducted and the taxpayer receives the remainder.
Is this accounting method peculiar to German tax law, or is there something similar in American law?
Umsatzsteuer, actually. I suspect leo may simply be translating the component parts of the word and then stringing them together (I can do that too!) but I guess I'll go with it. Thanks. 2 KudoZ points were awarded for this answer