deducciones en cuota aplicadas

English translation: tax credits applied

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:deducciones en cuota aplicadas
English translation:tax credits applied
Entered by: Comunican

13:08 Jun 25, 2009
Spanish to English translations [PRO]
Bus/Financial - Finance (general)
Spanish term or phrase: deducciones en cuota aplicadas
This is from an audit of a company's tax returns and affairs:

Here they are specifically talking about modelo 201 "Corporate Tax"

"Las deducciones en cuota aplicadas, por importe de 152,64 euros, en el ejercicio 2006 son del propio ejercicio, a pesar de ello había deducciones pendientes de 2005 que no se aplicaron"

Many thanks
Comunican
United Kingdom
Local time: 11:37
tax credits applied
Explanation:
tax credits applied


Explanation:
http://www.google.com/#q="deducciones en cuota" "credi...

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Note added at 17 mins (2009-06-25 12:52:17 GMT)
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[PDF]
Euromod Country report - Spain
File Format: PDF/Adobe Acrobat - View as HTML
2.3.5 Tax Credits (Deducciones de Cuota). 2.3.5.1. Mortgage Tax Credit (Deducción de Cuota por Inversión en Vivienda Habitual) ...
www.iser.essex.ac.uk/files/msu/emod/.../countries/.../cr01s... - Similar -

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Note added at 19 mins (2009-06-25 12:54:13 GMT)
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La progresividad de la imposición sobre la renta‎ - Page 12
by I. Argimón Maza, José Marín Arcas - Business & Economics - 1989 - 140 pages
... la transformación de las deducciones de los ingresos (tax allowances) en
deducciones de la cuota tributaria (tax credits); y la introducción de límites

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Note added at 1 hr (2009-06-25 13:48:14 GMT)
--------------------------------------------------

Look where it says "créditos de impuestos" here:

Información comercial española‎ - Page 122
by Spain. Ministerio de Comercio. Secretaría General Técnica, Spain. Ministerio de Industria y Comercio - Spain - 1990
... básicas de ayuda familiar en concepto de hijos: las deducciones en base, ...
las deducciones en base por deducciones en cuota o ***créditos de impuestos*** y, ...
Snippet view - About this book - Add to my library - More editions

--------------------------------------------------
Note added at 1 hr (2009-06-25 13:51:36 GMT)
--------------------------------------------------

[PDF]
¿Converge el Impuesto de Sociedades en la Unión Europea?
- [ Translate this page ]
File Format: PDF/Adobe Acrobat - View as HTML
caracterizan por la imposibilidad de aplicar créditos fiscales o deducciones en base por inversión con carácter general, si bien ésta es una característica ...
webpages.ull.es/users/ecopub10/ponencias/sociedades.pdf - Similar -

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Note added at 1 hr (2009-06-25 13:52:01 GMT)
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Quick definitions (tax credit)

▸ noun: a direct reduction in tax liability (not dependent on the taxpayer's tax bracket)


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Note added at 47 mins (2009-06-25 13:55:53 GMT)
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Tax credit
Definition - Noun
: an amount that may be subtracted from the sum of tax otherwise due and that is distinguished from a deduction applied to gross income in the calculation of taxable income
compare exemption

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Note added at 1 hr (2009-06-25 14:12:35 GMT)
--------------------------------------------------

I also cite this answer provided by Rebecca Jowers (who to me represents the gold standard of reliability):

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:

Ross Andrew Parker
Local time: 12:37
Grading comment
Thank you!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1tax deductions recorded
María Eugenia Wachtendorff
4 +1tax credits applied
Ross Andrew Parker
4marginal relief applied
Edward Tully
3sums deducted from the contribution/from contributions
Caroline Devitt (X)


  

Answers


15 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
tax deductions recorded


Explanation:
for FY2006, in the amount of..."

Hope this helps!

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Note added at 21 mins (2009-06-25 13:30:42 GMT)
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In cases like this, I find it helpful to take a look at the various meanings of the source word:

From the DRAE - Aplicar

2. tr. Emplear, administrar o poner en práctica un conocimiento, medida o principio, a fin de obtener un determinado efecto o rendimiento en alguien o algo.

Es decir, aquí sería "contabilizar" las deducciones de impuestos :)

María Eugenia Wachtendorff
Chile
Local time: 06:37
Works in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 287

Peer comments on this answer (and responses from the answerer)
agree  MikeGarcia: Sí, chilenísima amiga....de su argent/hispánico amigazo!!! Chamiga, y olé!!
29 mins
  -> Gracias, mi argentinísimo amigo :)) ¡Qué buena onda refleja tu agrí, Mike! Me da mucho gusto. Un abrazote y cariños a la familia.
Login to enter a peer comment (or grade)

14 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
sums deducted from the contribution/from contributions


Explanation:
This answer assumes that 'cuota' refers to a contribution made to something, e.g. a 'cuota de Seguridad Social'. But 'cuota' might also mean the tax rate applied, or something else. Does the context show exactly what 'cuota' refers to?

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Note added at 35 mins (2009-06-25 13:44:37 GMT)
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Sorry, slight mistake on my part: sums **deducted**, not 'retained'.

Caroline Devitt (X)
Local time: 12:37
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24
Notes to answerer
Asker: Hi Caroline, thanks for your reply. Yes, as i said in my posting, they are specifically talking about modelo (tax form) 201 "Corporate Tax"

Login to enter a peer comment (or grade)

44 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
tax credits applied


Explanation:
tax credits applied


Explanation:
http://www.google.com/#q="deducciones en cuota" "credi...

--------------------------------------------------
Note added at 17 mins (2009-06-25 12:52:17 GMT)
--------------------------------------------------

[PDF]
Euromod Country report - Spain
File Format: PDF/Adobe Acrobat - View as HTML
2.3.5 Tax Credits (Deducciones de Cuota). 2.3.5.1. Mortgage Tax Credit (Deducción de Cuota por Inversión en Vivienda Habitual) ...
www.iser.essex.ac.uk/files/msu/emod/.../countries/.../cr01s... - Similar -

--------------------------------------------------
Note added at 19 mins (2009-06-25 12:54:13 GMT)
--------------------------------------------------

La progresividad de la imposición sobre la renta‎ - Page 12
by I. Argimón Maza, José Marín Arcas - Business & Economics - 1989 - 140 pages
... la transformación de las deducciones de los ingresos (tax allowances) en
deducciones de la cuota tributaria (tax credits); y la introducción de límites

--------------------------------------------------
Note added at 1 hr (2009-06-25 13:48:14 GMT)
--------------------------------------------------

Look where it says "créditos de impuestos" here:

Información comercial española‎ - Page 122
by Spain. Ministerio de Comercio. Secretaría General Técnica, Spain. Ministerio de Industria y Comercio - Spain - 1990
... básicas de ayuda familiar en concepto de hijos: las deducciones en base, ...
las deducciones en base por deducciones en cuota o ***créditos de impuestos*** y, ...
Snippet view - About this book - Add to my library - More editions

--------------------------------------------------
Note added at 1 hr (2009-06-25 13:51:36 GMT)
--------------------------------------------------

[PDF]
¿Converge el Impuesto de Sociedades en la Unión Europea?
- [ Translate this page ]
File Format: PDF/Adobe Acrobat - View as HTML
caracterizan por la imposibilidad de aplicar créditos fiscales o deducciones en base por inversión con carácter general, si bien ésta es una característica ...
webpages.ull.es/users/ecopub10/ponencias/sociedades.pdf - Similar -

--------------------------------------------------
Note added at 1 hr (2009-06-25 13:52:01 GMT)
--------------------------------------------------

Quick definitions (tax credit)

▸ noun: a direct reduction in tax liability (not dependent on the taxpayer's tax bracket)


--------------------------------------------------
Note added at 47 mins (2009-06-25 13:55:53 GMT)
--------------------------------------------------

Tax credit
Definition - Noun
: an amount that may be subtracted from the sum of tax otherwise due and that is distinguished from a deduction applied to gross income in the calculation of taxable income
compare exemption

--------------------------------------------------
Note added at 1 hr (2009-06-25 14:12:35 GMT)
--------------------------------------------------

I also cite this answer provided by Rebecca Jowers (who to me represents the gold standard of reliability):

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.

Ross Andrew Parker
Local time: 12:37
Works in field
Native speaker of: English
PRO pts in category: 68
Grading comment
Thank you!
Notes to answerer
Asker: :-)


Peer comments on this answer (and responses from the answerer)
agree  John Rynne: Yep
4 hrs
  -> Thanks, John.
Login to enter a peer comment (or grade)

8 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
marginal relief applied


Explanation:
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Edward Tully
Local time: 12:37
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 825
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