Glossary entry (derived from question below)
French term or phrase:
précompte immobilier sur le matériel et l’outillage
English translation:
advance payment of tax on the value of the assets represented by materials and tools
Added to glossary by
Gina W
Sep 9, 2007 18:09
17 yrs ago
8 viewers *
French term
précompte immobilier sur le matériel et l’outillage
French to English
Bus/Financial
Law: Taxation & Customs
Ce programme prévoit la diminution du précompte immobilier sur le matériel et l'outillage pour tout investissement neuf d'une PME ou d'une grande entreprise.
I know that "précompte immobilier" is a Belgian tax on property (meaning real estate), but I can not find a translation for this specific term. I'm thinking that it's something like "tax on machinery and equipment", but I'd like some confirmation on that. Thanks.
I know that "précompte immobilier" is a Belgian tax on property (meaning real estate), but I can not find a translation for this specific term. I'm thinking that it's something like "tax on machinery and equipment", but I'd like some confirmation on that. Thanks.
Proposed translations
1 hr
Jennifer Levey
Chile
Chile
Native in English
Chile
Human-scale Globalization
Native in: English (Variant: British) 
Works in: Spanish to English, French to English, English to Spanish, and 2 more.
Related KudoZ points
:
23
Selected
withholding tax on materials and tools
Belgium is fond of imposing 'withholding taxes' on all kinds of things. Stocks of materials already purchased but still waiting to be used in production, and industrial machinery (i.e. tools), are considered 'immobilier' (property) in the same was as real estate and are subject to withholding tax.
--------------------------------------------------
Note added at 1 hr (2007-09-09 19:43:16 GMT)
--------------------------------------------------
For some background info (in French) see: http://www.businessandlaw.be/article1101.html
--------------------------------------------------
Note added at 2 hrs (2007-09-09 20:16:54 GMT)
--------------------------------------------------
From: http://www.econ.ucl.ac.be/ECON/FR/SERVICES/LOGISTIQUE/TRADUC...
withholding tax
prélèvement fiscal à la source (SCN 70); retenue à la source;
précompte (Belgique)
As its name implies, 'précompte' implies 'pre-payment', and the word is ised in Belgium in relation to a number of taxes that you have to pay in advance (and for which you might receive a rebate/reimbursement at the end of the tax year), not just the 'précompte immobilier' (property tax) paid by home owners.
--------------------------------------------------
Note added at 19 hrs (2007-09-10 13:31:23 GMT)
--------------------------------------------------
For rkillings: In Belgium, a 'précompte' can be paid by a third party (an employer, for example) or by the individual taxpayer (in the case of property tax and the 'PI sur le matérial et l'outillage').
In the case of property tax, the owner pays the tax, based on the taxable value of the property, in the autumn (tax demand sent out around October, payment due just before Christmas :) ). The amout paid is then taken into account when assessing the person's next annual income tax declaration (summer of following year) and under certain conditions can lead to a partial refund (or demand for more tax ...).
It is a 'précompte' because it is paid in advance of the actual due amount being determined. Official Belgian documents in English translate it as'withholding tax' regardless of the exact form of tax or method of payment.
--------------------------------------------------
Note added at 1 hr (2007-09-09 19:43:16 GMT)
--------------------------------------------------
For some background info (in French) see: http://www.businessandlaw.be/article1101.html
--------------------------------------------------
Note added at 2 hrs (2007-09-09 20:16:54 GMT)
--------------------------------------------------
From: http://www.econ.ucl.ac.be/ECON/FR/SERVICES/LOGISTIQUE/TRADUC...
withholding tax
prélèvement fiscal à la source (SCN 70); retenue à la source;
précompte (Belgique)
As its name implies, 'précompte' implies 'pre-payment', and the word is ised in Belgium in relation to a number of taxes that you have to pay in advance (and for which you might receive a rebate/reimbursement at the end of the tax year), not just the 'précompte immobilier' (property tax) paid by home owners.
--------------------------------------------------
Note added at 19 hrs (2007-09-10 13:31:23 GMT)
--------------------------------------------------
For rkillings: In Belgium, a 'précompte' can be paid by a third party (an employer, for example) or by the individual taxpayer (in the case of property tax and the 'PI sur le matérial et l'outillage').
In the case of property tax, the owner pays the tax, based on the taxable value of the property, in the autumn (tax demand sent out around October, payment due just before Christmas :) ). The amout paid is then taken into account when assessing the person's next annual income tax declaration (summer of following year) and under certain conditions can lead to a partial refund (or demand for more tax ...).
It is a 'précompte' because it is paid in advance of the actual due amount being determined. Official Belgian documents in English translate it as'withholding tax' regardless of the exact form of tax or method of payment.
Note from asker:
| I like the way you put it in your comment on xvsy's answer: "advance payment of tax on the value of the assets represented by materials and tools" |
Peer comment(s):
| neutral |
AllegroTrans
: I always understood withholding tax to be a tax on Holding Companies///I have checked your ref. - it only gives "précompte" not "précompte immobilier" so this is not conclusive
7 mins
|
|
See 'précompte' or 'withholding tax' here: http://www.econ.ucl.ac.be/ECON/FR/SERVICES/LOGISTIQUE/TRADUC...
|
|
| neutral |
rkillings
: "Withholding tax" in English implies that funds to pay t he tax are withheld and remitted by someone other than the taxpayer! May be the case, but how does that work with local property tax?
5 hrs
|
3 KudoZ points awarded for this answer.
Comment: "Merci:)"
1 hr
AllegroTrans
United Kingdom
United Kingdom
Native in English
Specializes in field
United Kingdom
Sensible solutions
Native in: English (Variant: Wessexois) 
Works in: French to English, English, English to French
Related KudoZ points
:
89
local property tax on tools and materials
I have Googled and can only find that this is a local property tax.
International Assignment Taxation Folio (PDF)
... taking up employment in Belgium will in general become ... Belgium. ... Local property tax (précompte immobilier - onroerende voorheffing) is assessed ...www.pwc.com/us/eng/hr/belgium.pdf
International Assignment Taxation Folio (PDF)
... taking up employment in Belgium will in general become ... Belgium. ... Local property tax (précompte immobilier - onroerende voorheffing) is assessed ...www.pwc.com/us/eng/hr/belgium.pdf
Note from asker:
| Thanks for your answer, I appreciate it. |
Peer comment(s):
| neutral |
Jennifer Levey
: 'local property tax' is the best-known form of 'précompte immobilier' in Belgium - because all home owners pay it, including me :( - but there are several others that affect companies and manufacturers.
10 mins
|
|
thanks!
|
4 hrs
Advance levy on income derived from real estate on equipment and tools
Very un-English, but that's how the authorities in Belgium call it (see my reference); I could think of a few ways of shortening it!
For what it is, see mediamatrix's answer.
By the way, there is a ProZ entry in the glossary:
p.i. précompte immobilier --> advance levy on income derived from real estate
--------------------------------------------------
Note added at 4 hrs (2007-09-09 22:32:23 GMT)
--------------------------------------------------
I mean: 'an entry in the ProZ glossary'!
For what it is, see mediamatrix's answer.
By the way, there is a ProZ entry in the glossary:
p.i. précompte immobilier --> advance levy on income derived from real estate
--------------------------------------------------
Note added at 4 hrs (2007-09-09 22:32:23 GMT)
--------------------------------------------------
I mean: 'an entry in the ProZ glossary'!
Note from asker:
| "real estate" means real property - i.e., land and the buildings on it, so "real estate on equipment and tools" doesn't make sense. Thank you for your answer, though. |
Peer comment(s):
| neutral |
Jennifer Levey
: No - the 'precompte' in this case is an advance payment of tax on the value of the assets represented by materials and tools, not on the income (while materials remain unused they don't generate any income...).
14 hrs
|
|
I wouldn't insist either way: I will admit finding the concept of equipment and tools as real-estate quite confusing, and the terminology used by the Belgian authorities is not helping. Thanks for the comment!
|
Discussion