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10:42 Jan 14, 2008
English to Russian translations [PRO] Law/Patents - Law: Taxation & Customs
English term or phrase:Income retained within the firm
Other variants having an equivalent effect are conceivable: thus, sole proprietorships and partnerships could be afforded tax treatment which was more favourable to investment, involving a distinction between retained/reinvested income and the income withdrawn by the entrepreneur or partners. Income retained within the firm would, on the basis of an option exercised irrevocably or not, by the entrepreneur (or the partners unanimously), be taxed at the rate of corporation tax, and only the income withdrawn would be charged to income tax in the hands of the entrepreneur (or the partners) as industrial or commercial income.