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Lucro Presumido

English translation: Assumed Profit

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Portuguese term or phrase:Lucro Presumido
English translation:Assumed Profit
Entered by: e-Perfecta
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18:36 Aug 7, 2002
Portuguese to English translations [PRO]
Bus/Financial
Portuguese term or phrase: Lucro Presumido
Forma de tributação do lucro: Lucro presumido
e-Perfecta
Brazil
Local time: 11:31
assumed profit, notional profit
Explanation:
I am hoping Danilo Nogueira will answer to confirm what both Marian and I learned from him - but I think he suggested \"assumed profit\" in the case I asked about. He said that it is a simplified way for (the tax authorities?) to estimate a company\'s profit based on their gross receipts and the type of business.

In attending a Spanish-language lecture on tax law at the ATA national conference in 2001, I learned that this can be translated as \"notional profit.\" But I haven\'t checked that out.
Selected response from:

Donna Sandin
United States
Local time: 10:31
Grading comment
Thank you very much.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +3assumed profit
Gino Amaral
5 +1income calculated by the tax authorities
Marian Greenfield
4 +2estimate profit system
Roberto Cavalcanti
4assumed profit, notional profit
Donna Sandin
4presumed profit
Rosemary Polato


  

Answers


6 mins   confidence: Answerer confidence 5/5 peer agreement (net): +3
assumed profit


Explanation:
Business Dictionary (Paulo Migliavacca).

HTH.

Gino Amaral
Brazil
Local time: 11:31
Native speaker of: Native in PortuguesePortuguese
PRO pts in pair: 87

Peer comments on this answer (and responses from the answerer)
agree  Sylvio Kauffmann
5 mins

agree  rhandler
1 hr

agree  Steve Smith: I think "presumed" is something of a false cognate. (The verb "to presume" is not, but the adjective is.)
1 hr
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11 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
estimate profit system


Explanation:
presumed profit

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Note added at 2002-08-07 20:36:37 (GMT)
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In Brazil there are a quite similar method for both, federal and state level, called \"lucro presumido\" (presumed profit) at federal and \"estimativa\" (estimative) at state level.
http://www.gwu.edu/~ibi/minerva/Spring1998/Rodrigo.Santos.ht...

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Note added at 2002-08-07 20:40:38 (GMT)
--------------------------------------------------

May Steve be correct
presumable profit


    Reference: http://www.ziniandassociates.com/brazil_eng.pdf
Roberto Cavalcanti
Brazil
Local time: 11:31
Native speaker of: Portuguese
PRO pts in pair: 309

Peer comments on this answer (and responses from the answerer)
agree  Henrique Serra: Yes, see Robcav's reference at page 18.
1 hr
  -> Grato

agree  Sonia Garrett
18 hrs
  -> Grato
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53 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
income calculated by the tax authorities


Explanation:
the tax authorities (I guess based on previous returns, business conditions, whatever) <presume> that you have made xx and tax you on that amount.

--------------------------------------------------
Note added at 2002-08-07 19:31:27 (GMT)
--------------------------------------------------

Actually, I think I asked the same question here quite a while ago and Danilo Nogueira explained to me, if I remember correctly.

Marian Greenfield
Local time: 10:31
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1930

Peer comments on this answer (and responses from the answerer)
agree  Roberto Cavalcanti: Yes, correct, assuming there is no correspondence in foreign legislation
13 mins

neutral  rhandler: Actually, the criteria for profit calculation is determined by the law, not by the tax authorities.
1 hr
  -> the criteria may be determined by law, but isn't it the tax authorities who apply the criteria to calculate the tax??
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
presumed profit


Explanation:
simple as that.

Este é um termo brasileiro que vem sendo traduzido desta forma tanto na britânica Price Waterhouse como por Noronha Advogados (vide link abaixo), embora uma edição do "Legal Dictionary"do Noronha traga "assumed profit"

Este é um texto de Utah:
The weakest point in a credit system is that a presumed profit is taken by the financing agency (the bank or investment broker) when a debt is incurred, not when it is paid.



    Reference: http://www.noronhaadvogados.com.br/inf0319i.htm
    Reference: http://darren.lib.utah.edu/tgotmch19.htm
Rosemary Polato
Brazil
Local time: 11:31
Native speaker of: Native in PortuguesePortuguese
PRO pts in pair: 223
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21 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
assumed profit, notional profit


Explanation:
I am hoping Danilo Nogueira will answer to confirm what both Marian and I learned from him - but I think he suggested \"assumed profit\" in the case I asked about. He said that it is a simplified way for (the tax authorities?) to estimate a company\'s profit based on their gross receipts and the type of business.

In attending a Spanish-language lecture on tax law at the ATA national conference in 2001, I learned that this can be translated as \"notional profit.\" But I haven\'t checked that out.

Donna Sandin
United States
Local time: 10:31
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1112
Grading comment
Thank you very much.
Login to enter a peer comment (or grade)




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