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Spanish to English translations [PRO]
Finance (general) | | Spanish term or phrase: pérdida tributaria arrastrable | | La compañía ha optado por el método que permite diferir su pérdida tributaria arrastrable contra las rentas netas que obtenga a partir del momento que inicie sus operaciones comerciales. Thanks a lot. |
|   Carolina GrupeKudoZ activityQuestions: 383 (none open) ( 26 closed without grading) Answers: 116
| Local time: 15:38
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| | tax loss carryforward | Explanation:
When a company suffers a tax loss in a fiscal year, a certain percentage of that loss may be used to reduce or offset taxable income in future years over the carryforward period. The carryforward period is usually 5 years, but it is 10 years in Mexico.
Reference: Tom West's Dictionary
Hope this helps.
In my 19th year of translating for Mexico City accounting firms and financial entities. |
| Selected response from:
Richard Cadena
Mexico
Local time: 13:38
| Grading comment Thanks a lot Richard, really helpful.
4 KudoZ points were awarded for this answer |
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| Discussion entries: 0 |
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Automatic update in 00:
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8 mins confidence:   peer agreement (net): +1
1 hr confidence: peer agreement (net): +1 tax loss carryforward
Explanation:
When a company suffers a tax loss in a fiscal year, a certain percentage of that loss may be used to reduce or offset taxable income in future years over the carryforward period. The carryforward period is usually 5 years, but it is 10 years in Mexico.
Reference: Tom West's Dictionary
Hope this helps.
In my 19th year of translating for Mexico City accounting firms and financial entities.
Reference: http://aicpa.org
Reference: http://imcp.org.mx
| Richard Cadena
Mexico
Local time: 13:38
Specializes in field
Native speaker of:  English
PRO pts in category: 331
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| | Grading comment | Thanks a lot Richard, really helpful. |
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17 hrs confidence: carry forward of net operating loss (NOL)
Explanation:
'tax loss' is a layman's term, there is no tax loss, the loss is in earnings. The loss is offset against past (carry back) or future earnigs. The US tax code requires corporations to first carry back two years, then carry forward up to 20 years. However, it can elect to opt out (waive) of the carry back by filing a declaration with its tax return.
Somewhat similar arrangements are available for individual taxpayers with some modification in the event of losses incurre in federall declared disaster areas..
| bigedsenior
Local time: 11:38
Works in field
Native speaker of:  English
PRO pts in category: 247
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The translation workplace 
