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I.V.A. repercutido y soportado

English translation: VAT deducted and paid

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:I.V.A. repercutido y soportado
English translation:VAT deducted and paid
Entered by: Parrot
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13:11 Oct 14, 2001
Spanish to English translations [PRO]
Bus/Financial
Spanish term or phrase: I.V.A. repercutido y soportado
accounts management
keith
VAT deducted and paid
Explanation:
"Repercutir el IVA" means to deduct VAT paid for sales and services (rebound tax) from the amount of VAT collected (soportado, i.e., what you have to pay in). In this sense, Andrea comes closest.
Selected response from:

Parrot
Spain
Local time: 03:50
Grading comment
Graded automatically based on peer agreement. KudoZ.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +4More info
Nikki Graham
5 +4VAT collected and paid
Nikki Graham
4 +3VAT deducted and paid
Parrot
4 +2VAT collected on sales and VAT paid on purchases
Andrea Wells
5cumulative IVA/input IVA
José Cavalcante
4output VAT and input VAT
nedra
4V.A.T. (Value Added Tax) calculated and paid
Marian Greenfield


  

Answers


36 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
V.A.T. (Value Added Tax) calculated and paid


Explanation:
hth

Marian Greenfield
Local time: 21:50
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 14613
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50 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
VAT collected on sales and VAT paid on purchases


Explanation:
Hi Keith:

I found two very clear definitions in Spanish and English for your question.

IVA repercutido: VAT collected on sales.
IVA soportado: VAT paid on purchases.


Ceck the references.

I hope this helps.
Saludos,
Andrea

..Para realizar la liquidación hemos de calcular la diferencia entre lo que hemos vendido (IVA Repercutido) y lo que hemos pagado (IVA Soportado.

VAT is payable on the difference on VAT collected on sales
less VAT paid on purchases during each tax period


    Reference: http://www.pwcglobal.com/bw/eng/ins-sol/publ/tax/intvat.html
Andrea Wells
United States
Local time: 18:50
Native speaker of: Spanish
PRO pts in pair: 145

Peer comments on this answer (and responses from the answerer)
agree  xxxOso: :^)
1 hr
  -> gracias, Oso!

agree  Sery
5 hrs
  -> Thanks a lot, Sery!!
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
VAT deducted and paid


Explanation:
"Repercutir el IVA" means to deduct VAT paid for sales and services (rebound tax) from the amount of VAT collected (soportado, i.e., what you have to pay in). In this sense, Andrea comes closest.


    8 years of calculating my own VAT
Parrot
Spain
Local time: 03:50
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 7645
Grading comment
Graded automatically based on peer agreement. KudoZ.

Peer comments on this answer (and responses from the answerer)
agree  pfeinstein
9 hrs

agree  Maria Campo
11 hrs

agree  Karina Fabrizzi: good!
14 hrs
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3 hrs   confidence: Answerer confidence 5/5
cumulative IVA/input IVA


Explanation:
input IVA = Iva suportado (SAP glossary)
cumulative IVA = (IVA repercutido)IVA calculated over the sales price and that can not be reduced by the IVA from purchases.


    SAP ERP glossary
José Cavalcante
Brazil
Local time: 00:50
Native speaker of: Native in PortuguesePortuguese
PRO pts in pair: 23
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10 mins   confidence: Answerer confidence 5/5 peer agreement (net): +4
VAT collected and paid


Explanation:
from diccionario de contabilidad y finanzas

Examples:

Lecture 11
... Keep accounts of VAT collected & paid Submitted quarterly to HM customs & excise
Business pays VAT collected - VAT paid If VAT collected < VAT paid, get refund ...
www.optometrylaw.co.uk/lecture10.htm -

[PDF] www.senate.gov/~hutchison/ib92069.pdf
File Format: PDF/Adobe Acrobat - View as Text
... in ensuring that amounts of VAT paid on input purchases are accurately ... to cross-check
the amount of VAT collected because data are gathered from ...
Similar pages

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Note added at 670 days (2003-08-15 13:55:46 GMT) Post-grading
--------------------------------------------------

IVA repercutido = tipo de IVA que las empresas cobran a sus clientes en la factura por la venta de bienes o prestación de servicios que estén sometidos a tal gravamen.

It has nothing to do with deductions

--------------------------------------------------
Note added at 670 days (2003-08-15 13:56:26 GMT) Post-grading
--------------------------------------------------

IVA repercutido = tipo de IVA que las empresas cobran a sus clientes en la factura por la venta de bienes o prestación de servicios que estén sometidos a tal gravamen.

It has nothing to do with deductions

--------------------------------------------------
Note added at 670 days (2003-08-15 20:33:48 GMT) Post-grading
--------------------------------------------------

My attention has been drawn to this question after quite some time.

IVA repercutido, in the diccionario de contabilidad y finanzas, states that this is a: tipo de IVA que las empresas COBRAN a sus clientes en la factura por la venta de bienes o prestación de servicios que estén sometidos a tal gravamen.

IVA soportado, in the same dictionary is a: tipo de IVA que las empresas PAGAN a sus proveedores por la compra de bienes o la prestación de servicios que éstos le dan y que estén sometidos a esta clase de gravamen.

To me it is therefore quite obvious that the first is VAT collected (and not deducted) and the second VAT paid. They are also for companies. The wording on the forms translators use in Spain is different:
IVA devengado (what you charge your clients and collect to then pay to the Tax Authorities) and
IVA deducible (which is VAT you have paid and which you can deduct from what you have collected to get a final figure of the tax you owe (IVA a ingresar) OR what you are owed (IVA a compensar), although the latter terms are also used for companies and are not found on the declaración trimestral (modelo 300) which translators (for example) use. Please note that not all VAT you have paid is necessarily deductible.

So it’s IVA repercutido – IVA soportado = IVA a ingresar (if the result is positive) or IVA a compensar (if the result is negative and therefore in your favour)

I hope this helps for future reference.


--------------------------------------------------
Note added at 670 days (2003-08-15 20:34:50 GMT) Post-grading
--------------------------------------------------

My attention has been drawn to this question after quite some time.

IVA repercutido, in the diccionario de contabilidad y finanzas, states that this is a: tipo de IVA que las empresas COBRAN a sus clientes en la factura por la venta de bienes o prestación de servicios que estén sometidos a tal gravamen.

IVA soportado, in the same dictionary is a: tipo de IVA que las empresas PAGAN a sus proveedores por la compra de bienes o la prestación de servicios que éstos le dan y que estén sometidos a esta clase de gravamen.

To me it is therefore quite obvious that the first is VAT collected (and not deducted) and the second VAT paid. They are also for companies. The wording on the forms translators use in Spain is different:
IVA devengado (what you charge your clients and collect to then pay to the Tax Authorities) and
IVA deducible (which is VAT you have paid and which you can deduct from what you have collected to get a final figure of the tax you owe (IVA a ingresar) OR what you are owed (IVA a compensar), although the latter terms are also used for companies and are not found on the declaración trimestral (modelo 300) which translators (for example) use. Please note that not all VAT you have paid is necessarily deductible.

So it’s IVA repercutido – IVA soportado = IVA a ingresar (if the result is positive) or IVA a compensar (if the result is negative and therefore in your favour)

I hope this helps for future reference.


Nikki Graham
United Kingdom
Local time: 02:50
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 5584

Peer comments on this answer (and responses from the answerer)
agree  Lafuente
59 mins

agree  xxxmgonzalez
8 hrs
  -> Thank you both

agree  Sheila Hardie: absolutely!
669 days
  -> thanks

agree  Marta Mozo
4539 days
Login to enter a peer comment (or grade)

670 days   confidence: Answerer confidence 5/5 peer agreement (net): +4
More info


Explanation:
My attention has been drawn to this question after quite some time.

IVA repercutido, in the diccionario de contabilidad y finanzas, states that this is a: tipo de IVA que las empresas COBRAN a sus clientes en la factura por la venta de bienes o prestación de servicios que estén sometidos a tal gravamen.

IVA soportado, in the same dictionary is a: tipo de IVA que las empresas PAGAN a sus proveedores por la compra de bienes o la prestación de servicios que éstos le dan y que estén sometidos a esta clase de gravamen.

To me it is therefore quite obvious that the first is VAT collected (and not deducted) and the second VAT paid. They are also for companies. The wording on the forms translators use in Spain is different:
IVA devengado (what you charge your clients and collect to then pay to the Tax Authorities) and
IVA deducible (which is VAT you have paid and which you can deduct from what you have collected to get a final figure of the tax you owe (IVA a ingresar) OR what you are owed (IVA a compensar), although the latter terms are also used for companies and are not found on the declaración trimestral (modelo 300) which translators (for example) use. Please note that not all VAT you have paid is necessarily deductible.

So it’s IVA repercutido – IVA soportado = IVA a ingresar (if the result is positive) or IVA a compensar (if the result is negative and therefore in your favour)

I hope this helps for future reference.


--------------------------------------------------
Note added at 670 days (2003-08-15 20:39:18 GMT) Post-grading
--------------------------------------------------

I had to post this separately because the system wouldn\'t let me do it otherwise

Nikki Graham
United Kingdom
Local time: 02:50
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 5584

Peer comments on this answer (and responses from the answerer)
agree  Sheila Hardie: thanks, Nikki - this information has been of great use to me:-)
20 days
  -> you're very welcome!

agree  xxxtazdog: well, it helped me! thanks!
606 days
  -> Good I'm glad.

agree  Renée Lizotte: Very helpful information. Thanks for going to the effort to explain how it works. ;-)
2827 days

agree  Marta Mozo
3869 days
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3691 days   confidence: Answerer confidence 4/5Answerer confidence 4/5
output VAT and input VAT


Explanation:
I'm beginning to think that the "official" terms would be input VAT and output VAT.


    Reference: http://ec.europa.eu/taxation_customs/taxation/vat/how_vat_wo...
nedra
United States
Local time: 18:50
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 799
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