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compensation

English translation: counter-balancing

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:compensation
English translation:counter-balancing
Entered by: Vicky James
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09:25 Jul 5, 2008
French to English translations [PRO]
Bus/Financial - Finance (general)
French term or phrase: compensation
I know this appears in the glossary, but what's there isn't helping me in this particular context. Is this really just "compensation" or is it more "offsetting"? The reference to VAT is confusing me here:

"...résolution d'un problème de compensation des deux activités sans paiement de TVA"

The "activités" here refer to 2 businesses that are sharing a service contract.

MTIA
Vicky James
United Kingdom
Local time: 21:15
counter-balancing
Explanation:
My reading is that the idea is not really to 'offset' anything, but rather to counter-balance the VAT impact of two activities so the net VAT payable is close to zero.

That's not tax evasion - it's tax avoidance - and there's no reason why it should not appear in the minutes of the meeting - regardless of who the company is!

Chapter 7, Economic Instruments in Environmental Protection in DenmarkRevenue from the collection of waste fees. Billion DKK ... The countries have established a method to bilaterally counter-balance payments between them, ...
www.miljoestyrelsen.dk/udgiv/publications/2000/87-7909-568-... - 42k - Cached - Similar pages


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Note added at 4 hrs (2008-07-05 13:59:08 GMT)
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Re Rob's comment below: There is a subtle but important difference between 'offsetting' and 'counter-balancing', as used in everyday political and commefcial (UK) English.

For example, there is much talk now of making reductions in the tax on fuel to 'offset' the rising cost of crude oil - but no-one is talking about 'counter-balancing' the rising cost to achieve a 'zero' net effect of the oil price rises. I infer that 'offseting' aims to reduce an undesirable effect, not cancel it out entirely.

'offsetting' also, in many situations, refers to new measures (activities) undertaken - maybe involuntarily - to mitigate the adverse effects of some other activity. See current debate about carbon emissions, for example.

'compensation', as used in the source text context, seems to be referring to attempts to balance the VAT impact of two voluntary activities so the net tax is zero; that, is 'counter-balancing', not 'offsetting': both activities are presumably part of the company's business and the aim is zero VAT.
Selected response from:

Robin Levey
Chile
Local time: 17:15
Grading comment
And many thanks to everyone for your input!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4netting
Béatrice Huret-Morton
3 +1counter-balancing
Robin Levey


Discussion entries: 13





  

Answers


3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
counter-balancing


Explanation:
My reading is that the idea is not really to 'offset' anything, but rather to counter-balance the VAT impact of two activities so the net VAT payable is close to zero.

That's not tax evasion - it's tax avoidance - and there's no reason why it should not appear in the minutes of the meeting - regardless of who the company is!

Chapter 7, Economic Instruments in Environmental Protection in DenmarkRevenue from the collection of waste fees. Billion DKK ... The countries have established a method to bilaterally counter-balance payments between them, ...
www.miljoestyrelsen.dk/udgiv/publications/2000/87-7909-568-... - 42k - Cached - Similar pages


--------------------------------------------------
Note added at 4 hrs (2008-07-05 13:59:08 GMT)
--------------------------------------------------

Re Rob's comment below: There is a subtle but important difference between 'offsetting' and 'counter-balancing', as used in everyday political and commefcial (UK) English.

For example, there is much talk now of making reductions in the tax on fuel to 'offset' the rising cost of crude oil - but no-one is talking about 'counter-balancing' the rising cost to achieve a 'zero' net effect of the oil price rises. I infer that 'offseting' aims to reduce an undesirable effect, not cancel it out entirely.

'offsetting' also, in many situations, refers to new measures (activities) undertaken - maybe involuntarily - to mitigate the adverse effects of some other activity. See current debate about carbon emissions, for example.

'compensation', as used in the source text context, seems to be referring to attempts to balance the VAT impact of two voluntary activities so the net tax is zero; that, is 'counter-balancing', not 'offsetting': both activities are presumably part of the company's business and the aim is zero VAT.

Robin Levey
Chile
Local time: 17:15
Native speaker of: Native in EnglishEnglish
PRO pts in category: 28
Grading comment
And many thanks to everyone for your input!
Notes to answerer
Asker: Hello mediamatrix, and thanks for that comprehensive explanation. I also understand your point about evasion vs. avoidance - perhaps I jumped on that aspect a bit too quickly, thinking it could be relevant in this particular case....


Peer comments on this answer (and responses from the answerer)
agree  Rob Grayson: Yes, I think this is what I was trying to say - and to my mind, "offsetting" means nothing different than "counter-balancing" in this context // OK, good explanation!
14 mins
  -> Thanks. Please see the note I just added.
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23 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
netting


Explanation:
I think netting or netting out may be more common in this context.

Béa

Béatrice Huret-Morton
Local time: 22:15
Specializes in field
Native speaker of: Native in FrenchFrench, Native in EnglishEnglish
PRO pts in category: 72
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