imputación parcial o total del impuesto sobre la renta retenido

English translation: >> see below <<

13:36 Sep 3, 2000
Spanish to English translations [PRO]
Bus/Financial
Spanish term or phrase: imputación parcial o total del impuesto sobre la renta retenido
"...el impuesto sobre la renta retenido en Venezuela a la Empresa no puede ser imputado por ésta, ni total ni parcialmente, al pago del impuesto sobre la renta canadiense; o que siendo posible dicha imputación, señale el porcentaje que el mismo es reconocido. Ello por que de ser posible la imputación parcial o total del impuesto sobre la renta retenido en Venezuela a la Empresa al pago de impuesto sobre la renta canadiense, las tarifas deberían disminuirse en la misma proporción, para conservar el equilibrio económico entre las partes." The dictionary definition of "imputación del pago" = debtor's choice of which debt a payment should be credited to.
Penelope Waters
English translation:>> see below <<
Explanation:
The best sense I can make of this text is that a company which owes income taxes in both Venezuela and Canada may allocate part of the income taxes, as withheld in Venezuela, to payment of the Canadian income taxes -- provided, however, that the rates or percentages of the taxes paid in Venezuela and Canada maintain a certain proportional ratio (presumably defined elsewhere in the text of the law):

"Allocation, in whole or in part, of income taxes withheld:

"Income taxes withheld from the Company in Venezuela shall not be allocated by the company, either in whole or in part, to payment of Canadian income taxes; or, in order for the said allocation to be made, the company shall indicate the percentage of the said allocation.

"This shall be done because -- in order for the income taxes withheld from the Company in Venezuela to be allocated, in whole or in part, to payment of Canadian income taxes -- the [tax] rates must be reduced by the same proportional amount, so as to preserve the economic balance between the parties."

Hope this helps...!
Selected response from:

Heathcliff
United States
Local time: 05:34
Grading comment
The answer from Heathcliff shows that the pro not only understood the poorly written
Spanish, but also has more knowledge about tax being withheld in foreign countries,
which is what I am lacking. Thanks so much for your assistance, my translation will be
much clearer.
3 KudoZ points were awarded for this answer



Summary of answers provided
naTax payments cannot be be totally or partially charged to...
Yolanda Broad
naTaxes paid...
Berni Armstrong
naallocate/attribute/impute/charge/deducted from
Lia Fail (X)
naSee below
Leonardo Lamarche (X)
na>> see below <<
Heathcliff


  

Answers


20 mins
Tax payments cannot be be totally or partially charged to...


Explanation:
I found a number of possibilities in searching Termium and the Larousse, Diccionario económico, comercial y financiero, including *appropriation* and *allocation*; however, since this has to do with *who* is to pay *what* to *whom/what*, it looks like *to charge*/*charged* is what you are looking for.

Another option (the one that came into my head before checking any "official" sources), is **assigned**.


    Reference: http://www.termium.com
    Larousse, Diccionario econ�mico, comercial y financiero, ING <>ESP
Yolanda Broad
United States
Local time: 08:34
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 668

Peer comments on this answer (and responses from the answerer)
Heathcliff
Login to enter a peer comment (or grade)

23 mins
Taxes paid...


Explanation:
Any taxes the Company may have paid in Venezuela cannot be offset, either partially or totally, against taxes owed in Canada, . etc...

I think the key here is that word "offset" - hope this helps.

As usual with legal jargon the first half of the sentence seems to be completely at odds with the second. You can't do it! But if you do then the following applies ... hmmm...

Berni

Berni Armstrong
Spain
Local time: 14:34
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 71

Peer comments on this answer (and responses from the answerer)
Heathcliff
Login to enter a peer comment (or grade)

3 hrs
allocate/attribute/impute/charge/deducted from


Explanation:
The (corporation) tax /which the company has paid in Venezuela/for which the company is liable in Venezuela/ cannot be fully or partially /imputed to/deducted from/ its/the Canadian tax liability/payment; otherwise, in the case that such is possible, (indicate - imperative?) the percentage for which this is (acceptable?) THE EARLIER PART OF YOUR SENTENCE WOULD BE USEFUL FOR THIS LAST BIT. IN THE NEXT BIT, A VERB SEEMS TO BE MISSING OR a PREPOSITION (posible en? la imputación), SO I INCLUDE A PREPOSITION 'IN' WHICH MAKES A DEPENDENT CLAUSE This is necessary because, where possible, IN (RESPECT OF) the partial or total company tax liability in Venezuela to be /deducted from/imputed to/ the company's tax liability in Canada, the rates applied should be reduced in the same proportion (AS WHAT?) so as to maintain the financial equilibrium between the parts. TWO WORDS MERIT A COMMENT 1. liability strictly speaking means 'owing' - however, given that the only way to actually avoid taxes is to leave the country, it is widely used synonymously with 'payment' in a tax context i.e. if you 'owe' tax, it goes without saying that you'll pay it, given the difficulties involved in avoiding it if the tax authorities have decided you owe them. 2. financial (for companies), not economic (for countries)- in English this is a financial balance between parts of an MNC, not an economic one.

Lia Fail (X)
Spain
Local time: 14:34
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1368

Peer comments on this answer (and responses from the answerer)
Heathcliff
Login to enter a peer comment (or grade)

3 hrs
See below


Explanation:
...the income tax reatained to the company in Venezuela, cannot be applied by the company, either partially or totally, to the payable canadian income tax; or... Hope it helps, but it seems that you have something missing in the texts afterwards.

Leonardo Lamarche (X)
Local time: 08:34
PRO pts in pair: 124

Peer comments on this answer (and responses from the answerer)
Heathcliff
Login to enter a peer comment (or grade)

5 hrs
>> see below <<


Explanation:
The best sense I can make of this text is that a company which owes income taxes in both Venezuela and Canada may allocate part of the income taxes, as withheld in Venezuela, to payment of the Canadian income taxes -- provided, however, that the rates or percentages of the taxes paid in Venezuela and Canada maintain a certain proportional ratio (presumably defined elsewhere in the text of the law):

"Allocation, in whole or in part, of income taxes withheld:

"Income taxes withheld from the Company in Venezuela shall not be allocated by the company, either in whole or in part, to payment of Canadian income taxes; or, in order for the said allocation to be made, the company shall indicate the percentage of the said allocation.

"This shall be done because -- in order for the income taxes withheld from the Company in Venezuela to be allocated, in whole or in part, to payment of Canadian income taxes -- the [tax] rates must be reduced by the same proportional amount, so as to preserve the economic balance between the parties."

Hope this helps...!


Heathcliff
United States
Local time: 05:34
Native speaker of: English
PRO pts in pair: 843
Grading comment
The answer from Heathcliff shows that the pro not only understood the poorly written
Spanish, but also has more knowledge about tax being withheld in foreign countries,
which is what I am lacking. Thanks so much for your assistance, my translation will be
much clearer.
Login to enter a peer comment (or grade)



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.

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