Imposto Sobre Operações Relativas à Circulação de Mercadorias (con'td below)

English translation: state value added tax

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Portuguese term or phrase:Imposto Sobre Operações Relativas à Circulação de Mercadorias (con'td below)
English translation:state value added tax
Entered by: Marian Greenfield

15:44 Jan 24, 2003
Portuguese to English translations [PRO]
Law/Patents
Portuguese term or phrase: Imposto Sobre Operações Relativas à Circulação de Mercadorias (con'td below)
Sorry, the whole term wouldn't fit:
***Imposto Sobre Operações Relativas à Circulação de Mercadorias e Sobre Prestação de Serviços de Transporte Interestadual e Intermunicipal de Comunicação – ICMS:

As Partes reconhecem ;e aceitam que as 1.445.000 (um milhão quatrocentos e quarenta e cinco mil) toneladas de cimento objeto da Daçaõ em Pagamento são avaliadas, nesta data, em R$ 51.000.000 (cinquenta e um milhões de reais);
valor este que representa usto de oportunidade da operação e que (i) não inclui o Imposto sobre Produtos Industrializados - IPI ("IPI") e nem o ***Imposto Sobre Operações Relativas à Circulação de Mercadorias e Sobre Prestação de Serviços de Transporte Interestadual e Intermunicipal de Comunicação – ICMS** incidentes sobre as vendas do cimento;

Is this one single tax or two different ones? Is there a standard translation in English?
William Stein
Costa Rica
Local time: 04:44
state value added tax
Explanation:
After much research on Brazilian taxes, I came up with the following conclusion, which my clients (mostly NGOs) like:

ICMS – Imposto [sobre operações relativas] à Circulação de Mercadorias e Serviços [the former] state value added tax (tax on [transactions involving] the Circulation of Goods and Services)

see:www.decidir.com.br/noticias.asp?tema=IIMS&idpnews=1220
Selected response from:

Marian Greenfield
Local time: 06:44
Grading comment
Thanks, that worked very nicely together with the Federal Value Added Tax.
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +2state value added tax
Marian Greenfield
4Duty imposed on operations relative to the transport of merchandise
suesimons


  

Answers


7 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
state value added tax


Explanation:
After much research on Brazilian taxes, I came up with the following conclusion, which my clients (mostly NGOs) like:

ICMS – Imposto [sobre operações relativas] à Circulação de Mercadorias e Serviços [the former] state value added tax (tax on [transactions involving] the Circulation of Goods and Services)

see:www.decidir.com.br/noticias.asp?tema=IIMS&idpnews=1220


    20 years in the business - most of it managing translation service for an investment bank
Marian Greenfield
Local time: 06:44
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1930
Grading comment
Thanks, that worked very nicely together with the Federal Value Added Tax.

Peer comments on this answer (and responses from the answerer)
agree  Ana Rita Santiago: That's it.
1 hr

agree  Yevgeniy Tamarchenko: However the whole expression need to be translated
3 hrs
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20 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Duty imposed on operations relative to the transport of merchandise


Explanation:
& to continue the sentence:
"on the loan of interstate transport services and intercity (intermunicipal - not really used in UK English, US English maybe)communication services."

suesimons
Local time: 11:44
Native speaker of: English
PRO pts in pair: 966
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