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Bus/Financial - Accounting / balance sheet terms | | Italian term or phrase: Proventi (Oneri) da adesione consolidato fiscale/trasparenza fiscale | Last one on this list of terms, afraid I'm stumped.
adesione consolidato fiscale ? |
|   Alexandra SpeirsKudoZ activityQuestions: 154 (none open) ( 3 closed without grading) Answers: 26
| | Local time: 04:51
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| | English translation:Income (expense) from participation in tax consolidation/special tax exemption | Explanation:
Consolidato fiscale is termed "tax consolidation" or combined reporting for tax purposes in English
http://en.wikipedia.org/wiki/Tax_consolidation
"transparenza fiscale" on the other hand is a particular type of tax exmption. I don't think it has an equivalent in English.
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Note added at 5 hrs (2011-08-01 17:10:33 GMT)
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Reconsidering "special corporate income tax exemption" is more precise.
I forgot to give you a link explaining what a "trasparenza fiscale regime" is in Italian. Here it is:
http://it.wikipedia.org/wiki/Trasparenza_fiscale
Anyway it seems to be very similar to the what is described in the page in your link link. I've copied this part out:
"The fiscal transparency of partnerships results from the fact that these entities are not subject to IRC" (Jim Davis: This is corporate income tax) "only the partners themselves are personally subject to income tax on their share in the profits realised by the partnership."
For normal SRL and SPA companies, the company pays corporate income tax on its profits. What is left is distributed to the shareholders who then pay personal income tax on what they receive, assuming they are ordinary individuals
In some cases such as partnerships in Luxembourg, no corporate income tax is paid ("these entities are not subject to IRC"). If no corporate income tax is paid, then the partnership is exempt from corporate income tax. Of course this means that all the profits are distributed and the partners receive more, but then they must pay individual income tax on it.
To say "exempt from corporate income tax" is pretty clear. You might perhaps want to add "but not from personal income tax". To write "Fiscal transparency" is totally confusing. This is a specific tax regime, it is not about being open and transparent about your taxes
www.imf.org/external/np/exr/facts/fiscal.htm - Cached
Fiscal transparency entails being open to the public about the government's ..
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| Selected response from:
James (Jim) Davis
Italy
Local time: 04:51
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The translation workplace 
