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18:14 Aug 18, 2000
Spanish to English translations [PRO] Bus/Financial
Spanish term or phrase:Impuesto a la ganancia mínima presunta
Explanation: In Peru, Minimum income tax is the tax to which persons are liable even if they do not record a profit in their annual results. If I remember rightly it was applied to Banks and was levied on something like 2% of their net assets. I put "presumed" in brackets because it might be supefluous in this context.
Explanation: In English it is called Minimum Advance Income Tax which has to be paid in advance before the financial year returns are submittedwhich is returned if the person or company is not liable to pay the tax after he submits his annual returns.