I.V.A. repercutido y soportado

English translation: VAT deducted and paid

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

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: 15:41

Grading comment

Graded automatically based on peer agreement. KudoZ.
4 KudoZ points were awarded for this answer

Summary of answers provided

5 +4

VAT collected and paid

Nikki Graham

5 +4

More info

Nikki Graham

4 +3

VAT deducted and paid

Parrot

4 +2

VAT collected on sales and VAT paid on purchases

Andrea Wells

cumulative IVA/input IVA

José Cavalcante

4 +1

output VAT and input VAT

Nedra Rivera Huntington

V.A.T. (Value Added Tax) calculated and paid

Marian Greenfield

Answers

36 mins confidence:

V.A.T. (Value Added Tax) calculated and paid

Explanation:
hth

Marian Greenfield
Local time: 09:41
Native speaker of:

English
PRO pts in pair: 14617

50 mins confidence:

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: 06:41
Native speaker of: Spanish
PRO pts in pair: 145

3 hrs confidence:

peer agreement (net): +3

VAT deducted and paid

Parrot
Spain
Local time: 15:41
Native speaker of: English
PRO pts in pair: 7645

Grading comment

Graded automatically based on peer agreement. KudoZ.

3 hrs confidence:

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: 10:41
Native speaker of:

Portuguese
PRO pts in pair: 23

10 mins confidence:

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
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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

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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: 14:41
Native speaker of: English
PRO pts in pair: 5596

670 days confidence:

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.

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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: 14:41
Native speaker of: English
PRO pts in pair: 5596

3691 days confidence:

peer agreement (net): +1

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 Rivera Huntington
United States
Local time: 06:41
Native speaker of:

English
PRO pts in pair: 827

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I.V.A. repercutido y soportado

English translation: VAT deducted and paid

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