Base imponible

English translation: taxable income

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Base imponible
English translation:taxable income
Entered by: Rebecca Jowers

15:13 Feb 22, 2007
Spanish to English translations [PRO]
Bus/Financial - Accounting / Accounting
Spanish term or phrase: Base imponible
1. Si es que existen provisiones por vacaciones, gratificaciones y/ o CTS que correspondan al periodo 2006 y que no hayan sido pagadas antes de la presentación de la declaración jurada anual 2006, éstas deben ser adicionadas a la base imponible y por lo tanto aumentaría el impuesto a la renta anual.
silgavate
Local time: 23:44
taxable income
Explanation:
although often translated literally as "tax base", this is (in Spain at least), what in the US is called "taxable income"

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Note added at 2 hrs (2007-02-22 18:01:38 GMT)
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To add a comment to Paul's observation:
"tax base" is often a literal translation from Spanish of "base imponible", which in this context and the meaning it has in Spanish almost always refers to "taxable income", i.e., the income on which tax to be paid is based after credits, deductions and applying the tax rate. I prefer "taxable income" in this context precisely because, as Paul so rightly indicates, "tax base" has this other meaning of "taxable value of assets."

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Note added at 5 hrs (2007-02-22 20:51:50 GMT)
--------------------------------------------------

This is the only definition of "tax base" in Black's Law Dictionary, 8th ed., 2004:

Tax base- The total property, income, or wealth subject to taxation in a given jurisdiction; the aggregate value of property being taxed by a particular tax."

As you an see, this is not what is meant by "base imponible" in the text to be translated, which is "taxable income". As an example, in the Spanish personal income scheme (Impuesto sobre la renta de las personas físicas), the "base imponible" is calculated by subtracting personal and family deductions from the tax payer's gross income.

Base imponible-
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Rebecca Jowers
Spain
Local time: 06:44
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +6taxable income
Rebecca Jowers
4 +6taxable base
David Cahill
5 +3Tax basis / Tax base
Richard Cadena
5Tax Base
CarmenHaydee


  

Answers


2 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +6
taxable base


Explanation:
Suerte


David Cahill
Local time: 06:44
Native speaker of: English
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  Patricia Mazzucco
2 mins
  -> thanks, pat

agree  Alessandro Zocchi
2 mins
  -> thanks, alessandro

agree  Noni Gilbert Riley: Also: taxable income/tax liability - Alcaraz and Hughes
20 mins
  -> thanks, ace

agree  MikeGarcia: Agree with aceavila.-
27 mins
  -> thanks, miguel

agree  DCypher (X)
40 mins
  -> thanks, paul

agree  Manuel Aburto
41 mins
  -> thanks, manuel
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16 mins   confidence: Answerer confidence 5/5 peer agreement (net): +3
Tax basis / Tax base


Explanation:
Barron's Dictionary of Finance and Investment Terms has the following definition for "Tax Basis":
The original cost of an asset, less accumulated depreciation that is included in the calculation of a gain or loss for tax purposes.
Barron's Dictionary of Finance and Investment Terms has the following definition for "Tax Base":
The total amount of taxable property, assets, and income that can be taxed within a specific jurisdiction.
Hope this helps.
18 years of experience translating for Mexico City accounting firms, financial entites, banks, etc.




    Reference: http://aicpa.org
    Reference: http://imcp.org.mx
Richard Cadena
Mexico
Local time: 23:44
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 714

Peer comments on this answer (and responses from the answerer)
agree  Ezequiel Fernandez: A commonly used term
4 mins
  -> Muchas gracias, Larru. Saludos desde México, Richard.

agree  Noni Gilbert Riley: Also: taxable income/tax liability - Alcaraz and Hughes
6 mins
  -> Thank you, Aceavila. Saludos from Mexico City, Richard.

agree  DCypher (X): tax base (as your cite from Barrons correctly states - tax base often frequently refers to taxable value of assets and not just taxable income)
16 mins
  -> Thank you, Paul. My impression is that a tax base provides all the necessary elements to determine if there is taxable income or a tax loss. Saludos, Richard.
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1 hr   confidence: Answerer confidence 5/5
Tax Base


Explanation:
is the term I used here is more general then "incomme" which lomits to earn money by work.....

CarmenHaydee
United States
Local time: 00:44
Native speaker of: Native in SpanishSpanish
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21 mins   confidence: Answerer confidence 5/5 peer agreement (net): +6
taxable income


Explanation:
although often translated literally as "tax base", this is (in Spain at least), what in the US is called "taxable income"

--------------------------------------------------
Note added at 2 hrs (2007-02-22 18:01:38 GMT)
--------------------------------------------------

To add a comment to Paul's observation:
"tax base" is often a literal translation from Spanish of "base imponible", which in this context and the meaning it has in Spanish almost always refers to "taxable income", i.e., the income on which tax to be paid is based after credits, deductions and applying the tax rate. I prefer "taxable income" in this context precisely because, as Paul so rightly indicates, "tax base" has this other meaning of "taxable value of assets."

--------------------------------------------------
Note added at 5 hrs (2007-02-22 20:51:50 GMT)
--------------------------------------------------

This is the only definition of "tax base" in Black's Law Dictionary, 8th ed., 2004:

Tax base- The total property, income, or wealth subject to taxation in a given jurisdiction; the aggregate value of property being taxed by a particular tax."

As you an see, this is not what is meant by "base imponible" in the text to be translated, which is "taxable income". As an example, in the Spanish personal income scheme (Impuesto sobre la renta de las personas físicas), the "base imponible" is calculated by subtracting personal and family deductions from the tax payer's gross income.

Base imponible-

Rebecca Jowers
Spain
Local time: 06:44
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 108
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Noni Gilbert Riley: See my other comments above which I was making as you posted!
1 min
  -> Yes, thanks aceavila

agree  Phil and Sonia Willcox: Looks the right option in this case to me.
6 mins
  -> Gracias BristolTEc

agree  MikeGarcia
7 mins
  -> Muchas gracias Miguel

neutral  DCypher (X): "tax base" is not a literal translation but the standard term in English. Taxable income is correct but I think not broad enough. Tax base also often refers to taxable value of assets.
15 mins
  -> Thanks Paul. I will post a comment above

agree  Maria Garcia: sí, porque habla de impuesto sobre la renta. Opino como Paul, el genérico para todo tipo de impuestos es "tax base".
33 mins
  -> Gracias María

agree  cmwilliams (X): also gives this term in Collins Dic. and this glossary - http://www.lexuniversal.com/en/qa/866
2 hrs
  -> Gracias cmwilliams

agree  bigedsenior: Right on the money! After deductions, exemptions and credits are taken, the bottom line is 'Taxable Income'.
3 hrs
  -> Thanks bigedsenior
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