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Financiaciones del IVA que se devengan de los Costes de Construcción

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12:48 Mar 29, 2007
This question was closed without grading. Reason: Answer found elsewhere

Spanish to English translations [PRO]
Bus/Financial - Finance (general) / VAT
Spanish term or phrase: Financiaciones del IVA que se devengan de los Costes de Construcción
"Mientras esté en vigor el presente Contrato, las Prestatarias no contraerán ningún otro crédito o préstamo adicional a este Contrato, salvo los Préstamos Subordinados no garantizados otorgados a las Prestatarias por los Socios. Asimismo, se exceptúan las *financiaciones del IVA que se devengan de los Costes de Construcción* del Proyecto y siempre que no cuenten con garantía alguna (con excepción de la pignoración de los derechos de crédito a las devoluciones que en su caso efectúe la Hacienda Pública y de los derechos de crédito derivados, en su caso, de la cuenta corriente relativa a dicho IVA).

I'm not entirely sure how to go about phrasing this. "VAT financing", as a literal translation, doesn't appear to be a particularly common way of saying it, at least according to Google.

Any help much appreciated!
Will Griffin
Spain
Local time: 23:45
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Summary of answers provided
5 +1VAT financing included in the Construction Costs
Alfredo Tanús
3financing of VAT accruing on project construction costs
John Rynne


  

Answers


16 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
VAT financing included in the Construction Costs


Explanation:
Suerte!

Alfredo Tanús
Local time: 19:45
Specializes in field
Native speaker of: Spanish
PRO pts in category: 40

Peer comments on this answer (and responses from the answerer)
agree  MikeGarcia
19 mins
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
financing of VAT accruing on project construction costs


Explanation:
This is a tricky one. As I understand it, this may be a project finance agreement, and the borrowers are restricted as regards other borrowings. However, they ARE allowed to borrow to cover the VAT accruing on construction costs (I figure the construction costs themselves are be covered by the project finance). The borrowing to cover VAT cannot be collateralised except by pledging future VAT refunds or the VAT current account (which is a system whereby the taxpayer has an "account" with the tax administration through which the VAT payable and receivable is passed, and the account is settled for the net.
That is my theory of what is going on (without such a theory, you can't give a meaningful translation)

John Rynne
Local time: 00:45
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 461
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