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Detracciones

English translation: discounts (taxes and duties)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Detracciones
English translation:discounts (taxes and duties)
Entered by: Anton Baer
Options:
- Contribute to this entry
- Include in personal glossary

21:37 Aug 1, 2006
Spanish to English translations [PRO]
Bus/Financial - Law: Taxation & Customs
Spanish term or phrase: Detracciones
El consolidador tendría que abonar “detracciones” equivalentes al 11.9% del valor de venta, que son pagos anticipados de impuestos abonados por el comprador para su acreditación como crédito tributario por el vendedor. Y, el vendedor tendría que abonar el IVA respectivo, equivalente al 19% del valor de venta, no obs- tante, podría acreditar frente al pago del IVA la “detracción” practicada por el consolidador. Ello, a pesar que los productos vendidos al consolidador tienen co- mo destino final su exportación, por lo que deberían encontrarse inafectos al IGV y a detracciones, y del otro lado, otorgar al exportador el derecho a recuperar el IVA de sus compras a través del saldo a favor del exportador. Ahora bien, bajo la mecánica de los consorcios “sin contabilidad independiente” los partícipes que renunciaron a la exoneración del IVA recuperan el IVA trasladado en sus compras a través del saldo a favor del exportador, y, no se encuentran afectos ni al IVA ni a detracciones.
BDT
discounts
Explanation:
Sounds like it... akin to deductions...
http://www.sunat.gob.pe/orientacion/sDetracciones/index.html
Selected response from:

Anton Baer
Slovakia
Local time: 20:42
Grading comment
Gracias HeinrichB!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4Advance payments of taxKLS
3debit?
Parrot
3discounts
Anton Baer


Discussion entries: 4





  

Answers


10 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
discounts


Explanation:
Sounds like it... akin to deductions...
http://www.sunat.gob.pe/orientacion/sDetracciones/index.html

Anton Baer
Slovakia
Local time: 20:42
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Gracias HeinrichB!
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
debit?


Explanation:
I'm just wondering if the glossary entry won't work (checks out so far...)


    Reference: http://www.proz.com/kudoz/931609
Parrot
Spain
Local time: 20:42
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 32
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Advance payments of tax


Explanation:
I have found a couple of websites which provide a useful explanation of how this works. There are two sides to the transaction.
In respect of the purchaser, the consolidator makes a deduction from the purchase price (sometimes called deduction at source / retención en la fuente).
In respect of the tax authorities, the consolidator makes a payment into an account whose sole purpose is to hold such tax until it is paid over.
The sentence in question refers to the second of these, i.e. what the consolidator does with the tax after deducting it.
HTH


    Reference: http://deloitte.com/dtt/press_release/0,1014,sid=29241&cid=8...
    Reference: http://www.acrata.org/desborde/plaurent/tecnocratas.htm
KLS
Local time: 19:42
Specializes in field
Native speaker of: Native in EnglishEnglish
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