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  3. Accounting

Cuota integra / Cuota liquida / Cuota diferencial

English translation: see explanations below

13:13 Sep 9, 2007
Spanish to English translations [PRO]
Bus/Financial - Accounting / Tax
Spanish term or phrase: Cuota integra / Cuota liquida / Cuota diferencial
Hola!
Tengo un dilema en cuanto a estos tres términos, ya que haciendo una búsqueda me salen traducciones iguales para alguno de ellos.

Contexto: fórmula para calcular el importe a ingresar o devolver por el impuesto de sociedades:

Base imponible x tipo impositivo = cuota integra
- deducciones o bonificaciones = cuota liquida
- retenciones y pagos a cuenta = cuota diferencial (a ingresar o devolver)

Vaya lío de cuotas!

Gracias y un saludo.
belensu
Local time: 19:41
English translation:see explanations below
Explanation:
I have worked extensively with Spanish lawyers to translate Spanish tax terms and believe that I can accurately say that there are no exact equivalents on either the the US or UK corporation tax forms.

For US tax forms see: http://www.irs.gov/formspubs/index.html?portlet=3

For UK tax forms see:
http://www.hmrc.gov.uk/businesses/tmacorporate-tax.shtml

Thus to avoid misinterpretations I would suggest the following descriptive renderings based on your definitions:

cuota íntegra = total tax due
cuota líquida = total tax due minus tax credits*
cuota diferencial = total tax due minus tax credits, taxes withheld and prepayments (amount payable or refundable)

*"deducciones sobre la cuota" are called "tax credits" in English

Hope you find this useful.
Selected response from:

Rebecca Jowers
Spain
Local time: 19:41
Grading comment
Thanks! it was really useful! As Miguel said, it wasn't an easy one.
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +4see explanations below
Rebecca Jowers
4Gross tax liability / Net tax liability / (UK) balancing allowance> receivable or charge > payable
Adrian MM.


  

Answers


37 mins   confidence: Answerer confidence 5/5 peer agreement (net): +4
see explanations below


Explanation:
I have worked extensively with Spanish lawyers to translate Spanish tax terms and believe that I can accurately say that there are no exact equivalents on either the the US or UK corporation tax forms.

For US tax forms see: http://www.irs.gov/formspubs/index.html?portlet=3

For UK tax forms see:
http://www.hmrc.gov.uk/businesses/tmacorporate-tax.shtml

Thus to avoid misinterpretations I would suggest the following descriptive renderings based on your definitions:

cuota íntegra = total tax due
cuota líquida = total tax due minus tax credits*
cuota diferencial = total tax due minus tax credits, taxes withheld and prepayments (amount payable or refundable)

*"deducciones sobre la cuota" are called "tax credits" in English

Hope you find this useful.

Rebecca Jowers
Spain
Local time: 19:41
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 108
Grading comment
Thanks! it was really useful! As Miguel said, it wasn't an easy one.

Peer comments on this answer (and responses from the answerer)
agree  MikeGarcia: Right on the cutting edge...and this wasn't an easy one!!! Are you an Hacienda advisor?? Few people in the translation world normally know these terms, definitions and subtleties. Congrats as usual, Rebecca, you ARE a wisdom well, ever so surprising !!!!
45 mins
  -> Thanks for your kind comment, Miguel. Actually I've come up with much of this in my legal English classes where the students (Spanish licenciados en derecho) take an intensive course in "tributario" and then want me to give them the English equivalents!
agree  RichardDeegan
1 hr
  -> Gracias Richard
agree  jackstraw: To simplify, I'm no tax expert but after years of tackling this problem the formula I use with my lawyer clients, and accepted by them: is: CI = gross [or total] tax liability; CL = net tax liability; CD = tax payable. Hope this helps.
2780 days
  -> Thanks Jack, this is a valuable contribution!
agree  Ma. Alejandra Padilla-LaCour
5891 days
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5802 days   confidence: Answerer confidence 4/5Answerer confidence 4/5
Gross tax liability / Net tax liability / (UK) balancing allowance> receivable or charge > payable


Explanation:
Better late than never ! I do crave indulgence for missing this question in a very busy year.

Cuota liquida : next tax liability, West.

As I know to my HMRC cost, balancing assessments (UK balancing allowance + or charge -) is used in calculating perosnal income tax, as well as in capital (writing-down) allowances on business stock or plant & equipment.

Example sentence(s):
  • there are many misconceptions relating to Capital Allowances, and balancing charge.

    Reference: http://www.propertycapitalallowance.com/what-is-a-balancing-...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 75
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