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realización, plazo de reversión

English translation: materialization, reversal period

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:realización, plazo de reversión
English translation:materialization, reversal period
Entered by: Katherine Matles
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15:52 Jan 10, 2003
Spanish to English translations [PRO]
Bus/Financial
Spanish term or phrase: realización, plazo de reversión
Los créditos correspondientes a bases imponibles negativas no aplicadas y los impuestos anticipados se contabilizan en la medida que tengan un interés cierto con respecto a la carga fiscal futura (cuya realización futura esté razonablemente asegurada). Por ello, si existen dudas acerca de su recuperación futura, por aplicación del principio de prudencia, no se registran como tales. Se presume que la realización futura de los impuestos anticipados no esté suficientemente asegurada cuando se prevé que su recuperación se producirá en un plazo superior a diez años contados desde la fecha de cierre del ejercicio, excepto si existen impuestos diferidos (deferred tax liabilities) por importe igual o superior y su plazo de reversión sea igual al de los impuestos anticipados.

What I have up to now..but please be nice, because this is a rough draft based on my trying to understand this fun paragraph!!!!!

The credits corresponding to available tax loss carry-forwards and deferred tax assets are recorded in the Books according to the Company’s interest in doing so with respect to future tax charges (whether their ??????? in the future is reasonably assured.) Therefore if there is doubt as to whether they can be recovered in the future, in application of a policy of prudence, they are not recorded as such. It is presumed that the future ??????? of the deferred tax assets is not reasonably assured when predicted that it will take longer than ten years from the date of the end of the financial year to recover them, except in the case that there are deferred tax liabilities of an equal or higher amount and their “??? plazo de reversion???? is equal to that of deferred tax assets.

O.K. THIS IS A "ROUGHHHHHH" DRAFT OF WHAT I UNDERSTAND UP TILL NOW!

Can someone help me fill in the blanks :-)
Katherine Matles
Spain
Local time: 21:53
realisation, reversal period
Explanation:
My version:
Tax credits relating to unused tax losses and pre-paid taxes are recorded to the extent that they will be offset against future tax charges (i.e. that their future realisation is reasonably assured). Consequently, by application of the prudence principle, if there are any doubts as to their future recovery, they are not recorded as tax credits. The future realisation of pre-paid taxes is deemed not to be sufficiently assured when it is envisaged that they will be recovered in a period of more than ten years from year-end, except where there are deferred tax liabilities for the same or a higher amount whose reversal period is the same as that of the pre-paid taxes.

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Note added at 2003-01-10 16:37:39 (GMT)
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I ran out of space responding to Jane (below):
\"recognition\" or \"recording\" are appropriate translations for \"contabilizar\". Here, the tax credits \"se contabilizan\" (are recognised or recorded) only if there is reasonable assurance that the company will generate a future tax debt large enough to offset them - that is to say, that it will \"realise\" the tax credits by using them to cut the tax bill. Meantime, it has actually \"recognised\" them.


--------------------------------------------------
Note added at 2003-01-10 16:43:27 (GMT) Post-grading
--------------------------------------------------

I ran out of space responding to Jane (below):
\"recognition\" or \"recording\" are appropriate translations for \"contabilizar\". Here, the tax credits \"se contabilizan\" (are recognised or recorded) only if there is reasonable assurance that the company will generate a future tax debt large enough to offset them - that is to say, that it will \"realise\" the tax credits by using them to cut the tax bill. Meantime, it has actually \"recognised\" them.
Selected response from:

John Rynne
Local time: 21:53
Grading comment
Thank you very much for taking the time to give me your rendition. It's definitely more polished than mine. The only thing is that there are certain terms that I cannot change, because they are considered to be standard translations at the firm I work for.

Examples :
bases imponibles negativas no aplicadas - available tax loss carry-forwards,
impuestos anticipados deferred tax assets

I appreciate your help:-)

Kathy


4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2(future) materialization; the period/interval in which they are to revert
Parrot
5 -1recognition or recording [depending] and reversal termJane Lamb-Ruiz
4realisation, reversal period
John Rynne
4satisfaction / fulfillment / compliance
johnclaude
3realization; period of reversionmarkaqui


  

Answers


17 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
realization; period of reversion


Explanation:
In fiscal 1998, the Company recognized the benefit of $1,800,000 (1997 - $1,800,000) of previously unrealized investment tax credits as their realization became reasonably assured due to the earnings history of the relevant subsidiary.

--------

Then @ 1.5% retroactive from Delinquency through remainder of period of reversion/redemption.


    Reference: http://www.geac.com/1998/taxes.htm
    Reference: http://www.title-check.com/pa123.html
markaqui
United States
Local time: 12:53
PRO pts in pair: 105
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20 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
satisfaction / fulfillment / compliance


Explanation:
hth

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Note added at 2003-01-10 16:13:50 (GMT)
--------------------------------------------------

sorry: only for \"realización\"

johnclaude
Local time: 21:53
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in pair: 460
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25 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
realisation, reversal period


Explanation:
My version:
Tax credits relating to unused tax losses and pre-paid taxes are recorded to the extent that they will be offset against future tax charges (i.e. that their future realisation is reasonably assured). Consequently, by application of the prudence principle, if there are any doubts as to their future recovery, they are not recorded as tax credits. The future realisation of pre-paid taxes is deemed not to be sufficiently assured when it is envisaged that they will be recovered in a period of more than ten years from year-end, except where there are deferred tax liabilities for the same or a higher amount whose reversal period is the same as that of the pre-paid taxes.

--------------------------------------------------
Note added at 2003-01-10 16:37:39 (GMT)
--------------------------------------------------

I ran out of space responding to Jane (below):
\"recognition\" or \"recording\" are appropriate translations for \"contabilizar\". Here, the tax credits \"se contabilizan\" (are recognised or recorded) only if there is reasonable assurance that the company will generate a future tax debt large enough to offset them - that is to say, that it will \"realise\" the tax credits by using them to cut the tax bill. Meantime, it has actually \"recognised\" them.


--------------------------------------------------
Note added at 2003-01-10 16:43:27 (GMT) Post-grading
--------------------------------------------------

I ran out of space responding to Jane (below):
\"recognition\" or \"recording\" are appropriate translations for \"contabilizar\". Here, the tax credits \"se contabilizan\" (are recognised or recorded) only if there is reasonable assurance that the company will generate a future tax debt large enough to offset them - that is to say, that it will \"realise\" the tax credits by using them to cut the tax bill. Meantime, it has actually \"recognised\" them.


John Rynne
Local time: 21:53
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1235
Grading comment
Thank you very much for taking the time to give me your rendition. It's definitely more polished than mine. The only thing is that there are certain terms that I cannot change, because they are considered to be standard translations at the firm I work for.

Examples :
bases imponibles negativas no aplicadas - available tax loss carry-forwards,
impuestos anticipados deferred tax assets

I appreciate your help:-)

Kathy

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29 mins   confidence: Answerer confidence 5/5 peer agreement (net): -1
recognition or recording [depending] and reversal term


Explanation:
I would use recognition or recording rather than realization....

entries are recognized or recorded in accounting....

Jane Lamb-Ruiz
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in pair: 7709

Peer comments on this answer (and responses from the answerer)
disagree  John Rynne: "recognition" or "recording" are appropriate translations for "contabilizar". Here, the tax credits "se contabilizan" (are recognised or recorded) only if there is reasonable assurance that the company will generate a future tax debt large enough to offse
7 mins
  -> fair enough but realisation just does not work for me and I see our argument. realisar at times can be record
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45 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
(future) materialization; the period/interval in which they are to revert


Explanation:
Sounds like my SAP documents, any relation? Trust you to come up with the worst... ;-)

Parrot
Spain
Local time: 21:53
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 7645

Peer comments on this answer (and responses from the answerer)
agree  Jane Lamb-Ruiz: yes, when the become material!
3 hrs

agree  diego asensio
3 days1 hr
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