Login or register (free and only takes a few minutes) to participate in this question.
You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.
00:40 Nov 13, 2013
This question was closed without grading. Reason: Other
English to Spanish translations [PRO] Bus/Financial - Law: Taxation & Customs
English term or phrase:input-taxed supplies
Hola, el documento original es de Australia y trata sobre el sistema impositivo y la comercialización de lingotes de oro.
You can not charge GST for input-taxed supplies. In addition, you are not entitled to input tax credits for the GST paid on the items/services you acquired to make the supply.
the first supply after refinement of a precious metal to a dealer in precious metals is GST free. Any subsequent supply of a precious metal is input taxed.
Para GST free estoy usando exento de GST (Impuesto sobre Bienes y Servicios).
This is a "little bit" confusing for me :) I found:
A supply of precious metal is to be input taxed, except in the case of the first sale after refinement, by a refiner to an investor, in which case the supply will be GST-free.
Input taxed supplies are NOT (emphasis is mine) subject to GST, but unlike GST-free supplies, there is no entitlement to an input tax credit for GST paid on anything acquired or imported to make the input taxed supply.
As far as I understand it, it looks like both are GST free (0% GST), the difference being that on GST-free supplies you are entitled to claim tax credits and on input-taxed supplies you are not.
This pdf http://gst.nusystems.com.au/pdf/part1.pdf explains it as follows:
Certain types of supplies are GST-free. This means that GST must not be
charged to the consumer on these supplies, however the supplier is entitled to
input tax credits on purchases made in the course of business.
Input-taxed supplies are those supplies with no GST levied on their sale to
customers, but unlike GST-free supplies, the supplier has no entitlement to
claim input tax credits for the GST paid on their purchase.
If I'm wrong, please say so. Thank you
Then you write, "input taxed supplies" are supplies that are not taxed…” Quite the opposite: those supplies ARE subject to GST before you buy them, but selling your outputs, under the Australian system at least, as I understand it, you can charge GST/VAT only on the ADDED VALUE part of what you sell down the supply chain, i.e. subject to GST/VAT is the cost of your (metal refinement?) SERVICE only and not the TOTAL cost of goods being sold (to avoid the cascading effect I mentioned earlier in my reference post).
Hence an idea for translation of the first occurrence of this wording in your passage: “You can not charge GST for input-taxed supplies…” = “No se cobra GST para las salidas de los insumos ya gravados (antes).”
Automatic update in 00:
Reference: GST = VAT
Reference information: The links below may help understand the concept:
ViBe Specializes in field Native speaker of: Russian
Note to reference poster
Asker: I appreciate your input. GST is Goods and Services Tax (impuesto sobre bienes y servicios) from Australia. In other countries is called VAT. However, I was looking for a translation of "input taxed supplies" which are supplies that are not taxed with the GST and you cannot claim tax credits on purchases, contrary to what happens to GST-free supplies, which are supplies not taxed with the GST but you are entitled to claim tax credits (refunds).