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exercice non prescrit

English translation: fiscal year [still] subject to audit

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:exercice non prescrit
English translation:fiscal year [still] subject to audit
Entered by: Stephanie Mitchel
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13:16 Dec 31, 2003
French to English translations [PRO]
Bus/Financial / income tax
French term or phrase: exercice non prescrit
Context: notification of income tax adjustment following an audit, sent to the audited company in France.

Wording: "... la somme de 5 601 635 F constitue un produit devant être pris en compte pour le calcul des bénéfices imposables du premier exercice non prescrit, en application du principe de l'intangibilité du bilan d'ouverture du plus ancien exercice non atteint par la prescription, posé par le Conseil d'état.."
Stephanie Mitchel
United States
Local time: 01:43
auditable fiscal year; fiscal year [still] subject to audit
Explanation:
prescrit refers to the statute of limitations having run out, so non prescrit means the auditors can still audit the tax declarations for that year.
Selected response from:

Marian Greenfield
Local time: 01:43
Grading comment
Bonne année !
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +5auditable fiscal year; fiscal year [still] subject to audit
Marian Greenfield
5of the first year not subject to the limitationJane Lamb-Ruiz
4not yet prescribed fiscal year
Abdellatif Bouhid


  

Answers


13 mins   confidence: Answerer confidence 5/5 peer agreement (net): +5
auditable fiscal year; fiscal year [still] subject to audit


Explanation:
prescrit refers to the statute of limitations having run out, so non prescrit means the auditors can still audit the tax declarations for that year.

Marian Greenfield
Local time: 01:43
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1518
Grading comment
Bonne année !

Peer comments on this answer (and responses from the answerer)
agree  Emérentienne: right, prescrit has no literal trans in French
3 mins

agree  Mary Lalevee
24 mins

agree  toubabou: -
2 hrs

agree  xxxsarahl
3 hrs

agree  xxxBourth: fiscal audit, though, as opposed to accounting audit, if you see what I mean
3 hrs
  -> I do see what you mean... I would think this is definitely a tax audit... in the U.S. it would be the dreaded IRS audit...

neutral  Jane Lamb-Ruiz: Marian. tax audit is inspection fiscale..this may be that general context but they are not talking about audit here specifically..they are talking about the year for which income is taxable [not under the statue of limitations]
4 hrs
  -> I really don't think so Jane....
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53 mins   confidence: Answerer confidence 5/5
of the first year not subject to the limitation


Explanation:
meaning duration of time

Black's Law Dictionary



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Note added at 2003-12-31 14:12:15 (GMT)
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prescription here means the time period NO longer subject to taxation...they are talking about income earned in the first year where the statute of limitation does NOT apply...

All due respect to Marian, it is not auditing....

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Note added at 2003-12-31 14:48:25 (GMT)
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sorry: not no longer subject to taxation

the first year where tax assessment can take place...where the statute of limitation does not apply ergo tax year

you could also say this as:

of the first assessable year...

then for prescription, limitation

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Note added at 2003-12-31 18:27:52 (GMT)
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FINAL: first tax assessable year

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Note added at 2003-12-31 18:38:24 (GMT)
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Here\'s the context:

Intangibilité du bilan d\'ouverture:

Le principe d\'intangibilité du bilan d\'ouverture veut que le bilan d\'ouverture d\'un exercice corresponde au bilan de clôture de l\'exercice précédent.


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Note added at 2003-12-31 18:54:22 (GMT)
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Here is a paragraph that shows clearly what this is:

Délai de prescription : attention au bilan d\'ouverture

La première chose que l\'avocat conseillant l\'entreprise a vérifiée fut la date de départ du contrôle. La règle, on le sait, est que le fisc ne peut effectuer de vérifications que sur les trois exercices antérieurs à la dernière déclaration. Dans le cas de notre entrepreneur : 1999, 1998 et 1997. Mais si l\'Administration avait décidé de sanctionner une donnée comptable du tout début 1997, l\'avocat se serait fait un plaisir de brandir l\'argument de l\'intangibilité du bilan d\'ouverture : en clair, les paramètres de départ de l\'exercice sont en fait celles du dernier jour de l\'année fiscale précédente. Dans ce cas précis, il y aurait prescription...


prescription: the statute of limitations would apply

cheers

Jane Lamb-Ruiz
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in pair: 8576
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
not yet prescribed fiscal year


Explanation:
..

Abdellatif Bouhid
Local time: 01:43
Native speaker of: Native in ArabicArabic, Native in FrenchFrench
PRO pts in pair: 390
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