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devengo

English translation: tax liability

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08:54 Dec 6, 2010
Spanish to English translations [PRO]
Bus/Financial - Business/Commerce (general)
Spanish term or phrase: devengo
Some help with "devengo" in the below example, please -- I am not really following the logic of this paragraph.

En otro caso, el impuesto será objeto de liquidación administrativa. No obstante, en los supuestos de devengo con la celebración u organización de la actividad de que se trate, el obligado tributario deberá poner en conocimiento de la Administración su voluntad de llevarla a efecto, para la práctica de una liquidación provisional en función de los ingresos estimados susceptibles de obtención y que tendrá el carácter de a cuenta de la liquidación definitiva que se practique, una vez acreditado el importe definitivo de los ingresos obtenidos en el plazo de veinte días a partir de la finalización de la actividad. Esa obligación será igualmente exigible cuando no sea posible la liquidación definitiva en los supuestos de autorización.

Thanks for any assistance!
TranLM
United States
Local time: 02:49
English translation:tax liability
Explanation:
It looks to me as though devengo here has its second meaning as defined in the DRAE: "Momento en el que nace la obligación de pago de un tributo."

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Note added at 22 mins (2010-12-06 09:17:08 GMT)
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To be more exact, I think "en supuestos de devengo con" means more or less "in cases where tax liability arises through"; "liability for tax" could also be said.
Selected response from:

Charles Davis
Spain
Local time: 09:49
Grading comment
Thanks again, Charles!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3Accruals
Jorge & Julie Soares
3 +1tax liability
Charles Davis
4payment or monetary compensation
riafontes


Discussion entries: 2





  

Answers


22 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
payment or monetary compensation


Explanation:
See discussion

riafontes
Spain
Local time: 08:49
Specializes in field
Native speaker of: Native in PortuguesePortuguese, Native in EnglishEnglish
PRO pts in category: 21
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19 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
tax liability


Explanation:
It looks to me as though devengo here has its second meaning as defined in the DRAE: "Momento en el que nace la obligación de pago de un tributo."

--------------------------------------------------
Note added at 22 mins (2010-12-06 09:17:08 GMT)
--------------------------------------------------

To be more exact, I think "en supuestos de devengo con" means more or less "in cases where tax liability arises through"; "liability for tax" could also be said.

Charles Davis
Spain
Local time: 09:49
Native speaker of: Native in EnglishEnglish
PRO pts in category: 296
Grading comment
Thanks again, Charles!
Notes to answerer
Asker: Thanks, Charles!


Peer comments on this answer (and responses from the answerer)
agree  SteveW: the "con" is a bit unclear; I guess it means where the liability arises "simultaneously with" the carrying out of the activity
10 hrs
  -> Thanks, Steve :) I agree about con; actually, "arises with" would probably work: it would imply "at the same time as" and "as a result of".
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
Accruals


Explanation:
"Devengo" i's a technical expression. In case the general document has more tecnhical language like this expression you should use the technical word in accounting/finance in English. In that case Accruals is a good translation.

You can see a general technical explanation of what "Accruals" are in accounting or general finance operations (as is businesses) in the link.


    Reference: http://moneyterms.co.uk/accruals-deferred-income/
Jorge & Julie Soares
United States
Local time: 03:49
Works in field
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in category: 8

Peer comments on this answer (and responses from the answerer)
agree  Eileen Banks
3 hrs
  -> Gracias!

agree  Marian Vieyra: Yes, use the technical term
5 hrs
  -> Thank you!

neutral  Charles Davis: Devengo can mean accrual in accounting, but how does that meaning fit into this context, which is to do with taxation? Here I think it's more likely to mean a taxable/chargeable event (hecho imponible), which is the other meaning of devengo.
6 hrs

agree  Vladimir Martinez: In finantial terms Yes!
6 hrs
  -> Thank you!
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