ITUs

English translation: Tax Units

12:41 Feb 8, 2014
English language (monolingual) [PRO]
Law/Patents - Law (general)
English term or phrase: ITUs
I am not sure what does "ITU" stand for in the following sentence.

"The distribution of works protected by copyright law constitutes an illegal act punishable by a fine of up to 180 ITUs ($657.000)".
Muhammad Atallah
Egypt
Local time: 14:45
Selected answer:Tax Units
Explanation:
This seems to be what you're looking for.

Tax Unit (UIT: Unidad Impositiva Tributaria - a reference unit for the computation of tax and penalties) for 2010 is S/. 3,600

Income tax on non-domiciled employees is imposed at a flat rate of 30% on their gross Peruvian source income. No deductions or credits apply to non-domiciled individuals.

http://www.taxrates.cc/html/peru-tax-rates.html

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Note added at 2 hrs (2014-02-08 15:03:29 GMT)
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De no cumplir, la sociedad de gestión colectiva sería sancionada con una multa de hasta 180 Unidades Impositivas Tributarias (UIT), equivalente a S/.666 mil, señala Indecopi en una nota de prensa emitida esta mañana.

Instituto Nacional de Defensa de la Competencia y de la Protección de la Propiedad Intelectual (Indecopi)

I don't know if you understand Spanish but a rough translation of 'Indecopi' would be 'National Institute for the Defence (Defense) from Competition and Protection of Intellectual Property'.

http://peru21.pe/politica/caso-apdayc-indecopi-suspende-rega...

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Note added at 2 hrs (2014-02-08 15:11:17 GMT)
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Here it's translated as 'Tax Assessment Unit'

a. Application filing: equal to 16.25% of the Tax Assessment Unit (UIT) (S/. 576.875 nuevos soles). 9% de la Tax Assessment Unit (UIT) shall be paid at the beginning of the procedure and the remaining amount (7.25%) will be paid as a return/reimbursement, according to the effective Tax Assessment Unit (UIT), only if the application qualifies for the substantive examination.

http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?AR...

Selected response from:

Helena Chavarria
Spain
Local time: 13:45
Grading comment
Thank you so much!
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
4 +1Tax Units
Helena Chavarria
Summary of reference entries provided
Refs.
Taña Dalglish

Discussion entries: 5





  

Answers


2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
itus
Tax Units


Explanation:
This seems to be what you're looking for.

Tax Unit (UIT: Unidad Impositiva Tributaria - a reference unit for the computation of tax and penalties) for 2010 is S/. 3,600

Income tax on non-domiciled employees is imposed at a flat rate of 30% on their gross Peruvian source income. No deductions or credits apply to non-domiciled individuals.

http://www.taxrates.cc/html/peru-tax-rates.html

--------------------------------------------------
Note added at 2 hrs (2014-02-08 15:03:29 GMT)
--------------------------------------------------

De no cumplir, la sociedad de gestión colectiva sería sancionada con una multa de hasta 180 Unidades Impositivas Tributarias (UIT), equivalente a S/.666 mil, señala Indecopi en una nota de prensa emitida esta mañana.

Instituto Nacional de Defensa de la Competencia y de la Protección de la Propiedad Intelectual (Indecopi)

I don't know if you understand Spanish but a rough translation of 'Indecopi' would be 'National Institute for the Defence (Defense) from Competition and Protection of Intellectual Property'.

http://peru21.pe/politica/caso-apdayc-indecopi-suspende-rega...

--------------------------------------------------
Note added at 2 hrs (2014-02-08 15:11:17 GMT)
--------------------------------------------------

Here it's translated as 'Tax Assessment Unit'

a. Application filing: equal to 16.25% of the Tax Assessment Unit (UIT) (S/. 576.875 nuevos soles). 9% de la Tax Assessment Unit (UIT) shall be paid at the beginning of the procedure and the remaining amount (7.25%) will be paid as a return/reimbursement, according to the effective Tax Assessment Unit (UIT), only if the application qualifies for the substantive examination.

http://www.indecopi.gob.pe/0/modulos/JER/JER_Interna.aspx?AR...



Helena Chavarria
Spain
Local time: 13:45
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 12
Grading comment
Thank you so much!

Peer comments on this answer (and responses from the answerer)
agree  Taña Dalglish: Makes far more sense than what I had (which I have blocked), but IMO, it should never have been called an "ITU" http://www.bcrp.gob.pe/publicaciones/glosario/u.html /I will post add. refs. to support leaving "UIT" (Spanish).
16 mins
  -> Yes, you're right. It should have been called either 'TU/TAU' or left as 'UIT'. Thank you and I hope you enjoy your weekend :)
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Reference comments


2 hrs peer agreement (net): +1
Reference: Refs.

Reference information:
http://www.bcrp.gob.pe/docs/Publicaciones/Glosario/Glosario-...
Unidad Impositiva Tributaria-UIT (Perú) (Tax unit) Monto de referencia utilizado en las normas tributarias a fin de mantener en valores constantes las bases imponibles, deducciones, límites de afectación y demás aspectos de los tributos que considere conveniente el legislador. También puede ser utilizada para aplicar sanciones, determinar obligaciones contables y otras formales. El valor de la UIT se determina anualmente mediante Decreto Supremo.


The Inter-American Development Bank (IADB) uses the English translation "Annual Tax Unit"
[PDF]
ess trefi
www.iadb.org/projectDocument.cfm?id=38007669
During the due diligence phase, the IDB will assess TREFI's tools and capacity for ... 28015, companies with annual sales of up to 150 UIT Unidad Impositiva. Tributaria (UIT or Annual Tax Unit = 3,700 PEN in 2013) and no more than 10 ...

This one has "established tax unit" and therefore to coin the acronym "ITU" is erroneous [a direct result of the translation from Spanish to English]. ** However, I would leave the acronym "UIT" [Unidad Impositiva Tributaria"], as there does not appear to be any accepted English acronym and certainly not "ITUs".

Living in Peru | Life in Peru - Global Property Guide
www.globalpropertyguide.com › Latin America › Peru‎
An official established tax unit (Unidad Impositiva Tributaria or UIT) is used to ... Real estate tax is levied on the cadastral value of the real estate, as assessed by ...

Tax on Real Estate Transactions in Peru - The Expat Peru Network
www.expatperu.com/tax-on-real-estate-transactions.php
The property value is assessed based on the declared value of the property (autovaluo) less 10 UIT ... "UIT" stands for Unidad Impositiva Tributaria. The UIT is a unit of monetary measurement set by the government in order to handle payments ...

[PDF]
Constrained Property Tax Revenues in Peru - International ...
http://library.iaao.org/fulltext/pa0602037.pdf
Journal of Property Tax Assessment & Administration • Volume 3, Issue 2. 37. Constrained .... study found that for any given unit of received transfers .... One UIT (Unidad Impositiva Tributaria) in 2004 was the equivalent of S/. 3,200 (roughly.

Taña Dalglish
Jamaica
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 20
Note to reference poster
Asker: Thank you so much!


Peer comments on this reference comment (and responses from the reference poster)
agree  Helena Chavarria
3 mins
  -> Thanks Helena and good find! Un abrazo.
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