ProZ.com global directory of translation services
The translation workplace
Ideas
KudoZ home » Norwegian to English » Accounting

skattekonsern

English translation: tax group


Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Norwegian term or phrase:skattekonsern
English translation:tax group
Entered by: Tom Thumb
Options:
- Contribute to this entry
- Include in personal glossary

12:07 Jun 13, 2008
Norwegian to English translations [PRO]
Bus/Financial - Accounting
Norwegian term or phrase: skattekonsern
Financial report. Under Tax. I'm not quite sure of the meaning of this sentence:
"Underskudd i skattekonsernet er i sin helhet fylt opp ved konsernbidrag fra XX AS og søsterselskap."
Brigid McCauley
Local time: 02:31
tax group
Explanation:
'The shortfall in the tax group (of tax-eligible companies treated as a single-entity cf. DE Organschaft) has been made up for in its entirety by group contributions from XX AS and associated company/ies'.

Other group cos. can make up for a loss elsewhere in the group.

In the UK, group (tax) relief works slightly differently. Tax-deductible losses can pass up and down between parent and subsidiaries or across between subsidiaries to reduce the taxable profits:

Parent
/loss \loss
Subsid. - loss - subsid. -loss - subsid.


--------------------------------------------------
Note added at 5 days (2008-06-18 15:58:02 GMT) Post-grading
--------------------------------------------------

The definition is all very well, but doesn't justify expanding to: tax contributory group, transfer pricing or group (tax) relief.
Selected response from:

Tom Thumb
Local time: 02:31
Grading comment
2 KudoZ points were awarded for this answer



Summary of answers provided
4tax group
Tom Thumb


Discussion entries: 1





  

Answers


9 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
tax group


Explanation:
'The shortfall in the tax group (of tax-eligible companies treated as a single-entity cf. DE Organschaft) has been made up for in its entirety by group contributions from XX AS and associated company/ies'.

Other group cos. can make up for a loss elsewhere in the group.

In the UK, group (tax) relief works slightly differently. Tax-deductible losses can pass up and down between parent and subsidiaries or across between subsidiaries to reduce the taxable profits:

Parent
/loss \loss
Subsid. - loss - subsid. -loss - subsid.


--------------------------------------------------
Note added at 5 days (2008-06-18 15:58:02 GMT) Post-grading
--------------------------------------------------

The definition is all very well, but doesn't justify expanding to: tax contributory group, transfer pricing or group (tax) relief.

Example sentence(s):
  • Skattekonsern foreligger dersom morselskapet eier mer enn ni tideler av aksjene i ... Datterselskap i skattekonsern kan som et alternativ til utbytte yte ...
  • a written application to form a tax group which has to be filed with the ... participate in a tax group. Under certain conditions, groups with two or more ...

    Reference: http://www.regjeringen.no/nb/dep/fin/dok/regpubl/otprp/20042...
    Reference: http://www.pwc.com/at/pdf/publikationen/Steuer_05_eng_neu.pd...
Tom Thumb
Local time: 02:31
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 45
Login to enter a peer comment (or grade)




Return to KudoZ list


Changes made by editors
Jun 18, 2008 - Changes made by Tom Thumb:
Created KOG entryKudoZ term => KOG term


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:
ProZ.com term search
Search millions of term translations

Terminology | Jobs and directories | Member activities | Education | Tools
About ProZ.com | ProZ.com basics | Advertising | Support | FAQ | Terms of use
ProZ.com social network linksFacebookLinkedInTwitterDiggStumbleUpondel.icio.us
Print page
Copyright © 1999-2012 ProZ.com - All rights reserved. Privacy