KudoZ home » French to English » Law/Patents

profit sur le Trésor

English translation: Comments

Advertisement

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.
16:16 Jan 11, 2002
French to English translations [PRO]
Law/Patents / tax law
French term or phrase: profit sur le Trésor
This is a title in a letter from the French tax authorities re reassessment. Involves VAT not paid. Underneath, the paragraph starts "Dans un système de comptabilisation hors taxes (what does that mean?), l'avantage réalisé au détriment du Trésor du fait de non paiement de la TVA.... constitue ... un profit à réintégrer".
Profit on the French Treasury?
Mary Lalevee
United Kingdom
Local time: 09:03
English translation:Comments
Explanation:
If you are not subject to VAT, then your accounting is done TTC (inclusive of tax). In your recettes/dépenses bookkeeping for example, everything is noted at the full price you paid for it. You cannot deduct VAT paid on purchases, nor can you charge VAT.

However, if you are subject to VAT, your a/c is done "hors tax", you not purchases excl. of tax, the VAT paid being noted separately, just as the VAT you charge clients is noted separately again.

Important note : if you did not charge VAT when you were supposed to, and the fisc decided to get snotty about recovering it, then they will consider that the amounts entered in terms of receipts include an element for tax. Thus, if you have billed 1 000 € (without having charged VAT when you really ought to have done) then you will be liable for 19.6% on everything you received, ie you foot the bill for the VAT your should have charged your clients - bad news!

You cannot say you made 120 000 € in a year but then say, hang on a minute, although I haven't paid the VAT on it, I ought to have done, so that figure should be 19.6% less. Non, non, no, the taxman will argue that you have in fact had the advantage of that extra money so it is taken into a/c.

To this extent, "profiter sur" means that the taxpayer has made a gain at the expense of the taxman - and he never like to be out of pocket.

--------------------------------------------------
Note added at 2002-01-12 01:35:52 (GMT) Post-grading
--------------------------------------------------

What a fuzzy explanation I gave. I\'m tired!
Selected response from:

Nikki Scott-Despaigne
Local time: 10:03
Grading comment
Thanks Nikki - that makes sense.
Mary
4 KudoZ points were awarded for this answer

Advertisement


Summary of answers provided
4taxable profit
Marian Greenfield
4Comments
Nikki Scott-Despaigne
4 -1The sentence: In a duty-free accounting system, the
Parrot


  

Answers


10 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
taxable profit


Explanation:
I believe

1) Trésor here would be the French Revenue Service

2) système de comptabilisation hors taxes = accounting system booking entries net of taxes

3)un profit à réintégrer = profits that must be added back in

hth
msg

Marian Greenfield
Local time: 04:03
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1518
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
The sentence: In a duty-free accounting system, the


Explanation:
profits made to the detriment of the Public Treasury from non-payment of VAT constitutes a profit to be restored/restituted (the manner of restitution is not specified). The title is to the effect of "Profit at the expense of the Public Treasury".


    Business French
Parrot
Spain
Local time: 10:03
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1861

Peer comments on this answer (and responses from the answerer)
disagree  Nikki Scott-Despaigne: Nothing to do with duty-free systems, but with not having paid tax when you ought to have done, thus to the detriment of the tax collector!
11 mins
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
Comments


Explanation:
If you are not subject to VAT, then your accounting is done TTC (inclusive of tax). In your recettes/dépenses bookkeeping for example, everything is noted at the full price you paid for it. You cannot deduct VAT paid on purchases, nor can you charge VAT.

However, if you are subject to VAT, your a/c is done "hors tax", you not purchases excl. of tax, the VAT paid being noted separately, just as the VAT you charge clients is noted separately again.

Important note : if you did not charge VAT when you were supposed to, and the fisc decided to get snotty about recovering it, then they will consider that the amounts entered in terms of receipts include an element for tax. Thus, if you have billed 1 000 € (without having charged VAT when you really ought to have done) then you will be liable for 19.6% on everything you received, ie you foot the bill for the VAT your should have charged your clients - bad news!

You cannot say you made 120 000 € in a year but then say, hang on a minute, although I haven't paid the VAT on it, I ought to have done, so that figure should be 19.6% less. Non, non, no, the taxman will argue that you have in fact had the advantage of that extra money so it is taken into a/c.

To this extent, "profiter sur" means that the taxpayer has made a gain at the expense of the taxman - and he never like to be out of pocket.

--------------------------------------------------
Note added at 2002-01-12 01:35:52 (GMT) Post-grading
--------------------------------------------------

What a fuzzy explanation I gave. I\'m tired!

Nikki Scott-Despaigne
Local time: 10:03
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 4431
Grading comment
Thanks Nikki - that makes sense.
Mary
Login to enter a peer comment (or grade)




Return to KudoZ list


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:



Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search