Impuestos por activo diferido

English translation: Deferred tax assets

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Impuestos por activo diferido
English translation:Deferred tax assets
Entered by: Robert Dunn

21:40 May 11, 2018
Spanish to English translations [PRO]
Bus/Financial - Finance (general) /
Spanish term or phrase: Impuestos por activo diferido
Hi everyone,

I am translating an annual report for a Mexican company into U.S. English, and I am unsure about this phrase.

Recuperabilidad de **Impuestos por activo deferido** relacionado con las Pérdidas Fiscales.

I know that "activos por impuestos diferidos" is "deferred tax assets", but I am unsure about the above formulation...I don't see any reference for it.

Does it mean something along "taxes for deferred assets"? It may seem obvious to some but I want to be 100% sure.
Robert Dunn
Panama
Local time: 03:38
Deferred tax assets
Explanation:
This is definitely "deferred tax assets". The Mexican term in Spanish can be "impuestos por activo diferido", and it can also be "impuesto diferido activo". Both of these terms are commonly used in Mexican accounting, auditing, and financial circles.

Reference: U.S. GAAP Financial Statements / Best Practices in Presentation and Disclosure
Seventy-First Edition \ Accounting Trends and Techniques
Published by the American Institute of Certified Public Accountants (AICPA)
Page 546
PRESENTATION
3.68 FASB ASC 740-10-45 states that except as indicated in FASB ASC 740-10-45-10B and 740-0-45-12, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, shall be presented in the financial statements as a reduction of a ** deferred tax asset ** for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward.

Diccionario de Terminología Contable y Financiera Especializada / Spanish-English & Inglés-Español by Prof. Richard J. Cadena
Published by the Instituto Mexicano de Contadores Públicos, A.C. (IMCP), January 2013
This dictionary has it as "impuesto diferido activo - deferred tax assets"

Other related terms in this dictionary are:
impuesto diferido activo bruto - gross deferred tax assets
impuesto diferido activo no circulante - noncurrent deferred tax assets

Hope this helps.
29 years of translating from Spanish to English for Mexican member firms of big 4 and 2nd tier international CPA firms.

Selected response from:

Richard Cadena
Mexico
Local time: 03:38
Grading comment
Wonderful, thank you!
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +2Deferred tax assets
Richard Cadena


  

Answers


42 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
Deferred tax assets


Explanation:
This is definitely "deferred tax assets". The Mexican term in Spanish can be "impuestos por activo diferido", and it can also be "impuesto diferido activo". Both of these terms are commonly used in Mexican accounting, auditing, and financial circles.

Reference: U.S. GAAP Financial Statements / Best Practices in Presentation and Disclosure
Seventy-First Edition \ Accounting Trends and Techniques
Published by the American Institute of Certified Public Accountants (AICPA)
Page 546
PRESENTATION
3.68 FASB ASC 740-10-45 states that except as indicated in FASB ASC 740-10-45-10B and 740-0-45-12, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, shall be presented in the financial statements as a reduction of a ** deferred tax asset ** for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward.

Diccionario de Terminología Contable y Financiera Especializada / Spanish-English & Inglés-Español by Prof. Richard J. Cadena
Published by the Instituto Mexicano de Contadores Públicos, A.C. (IMCP), January 2013
This dictionary has it as "impuesto diferido activo - deferred tax assets"

Other related terms in this dictionary are:
impuesto diferido activo bruto - gross deferred tax assets
impuesto diferido activo no circulante - noncurrent deferred tax assets

Hope this helps.
29 years of translating from Spanish to English for Mexican member firms of big 4 and 2nd tier international CPA firms.




    Reference: http://aicpa.org
    Reference: http://imcp.org.mx
Richard Cadena
Mexico
Local time: 03:38
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 359
Grading comment
Wonderful, thank you!

Peer comments on this answer (and responses from the answerer)
agree  Andy Watkinson: Amen.
2 hrs
  -> Thank you, Andy.

agree  John Rynne
6 days
  -> Thank you, John.
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