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03:39 Dec 15, 2010
Spanish to English translations [PRO] Bus/Financial - Finance (general) / Taxation
Spanish term or phrase:prescripción
Hi all -
I have a report I am translating into English and am looking for a one-word equivalent of this word if possible. It does refer to the statute of limitations for tax liability.
It appears as a title in a table and underneath it is a date. (then there are four columns whose heading are years with amounts owed for each year underneath).
Can anyone suggest a heading that is concise (rather than: "Statute of limitations for tax liability expiration date")?
I am not sure what we would say in financial English.
Is it apparent that the amounts listed under the heading are no longer payable?
Automatic update in 00:
15 mins confidence:
Expiration of Statute
Explanation: I am uncertain what the proper term in finance would be or even if there is one, but I suppose it would be clear enough to just omit the [relatively] least relevant terms without losing much, especially since the target audience is familiar with the context, this being a financial report after all. (I may have over-omitted.)
Steven Huddleston Mexico Local time: 04:40 Specializes in field Native speaker of: English, Spanish PRO pts in category: 22 1 corroborated select project in this pair and field
-------------------------------------------------- Note added at 1 hr (2010-12-15 05:26:47 GMT) --------------------------------------------------
In this case, "Prescripción" means that you don't have to pay the tax because the statute of limitations has expired. ...
forum.wordreference.com/showthread.php?t=595007 - Cached
David Hollywood Local time: 07:40 Works in field Native speaker of: English PRO pts in category: 718
5 hrs confidence:
out of statute
Explanation: I think this might work:
The statute of limitations (SOL) for a delinquent debt is the time limit for the creditor to file a lawsuit. This period starts when the debtor becomes delinquent. The fact that the SOL has "run" (expired) on a particular debt will not necessarily prevent a lawsuit from being filed (via a Summons And Complaint), but the defendant can have the suit dismissed on this basis.
The Statute Of Limitations only covers lawsuits, and SOL expiration does not affect other types of collection action or reporting of the account to credit bureaus. The creditor or collection agency may theoretically continue with letters and telephone calls forever (although third-party collectors are subject to the "cease and desist" provision of the Fair Debt Collection Practices Act.) However, they will generally put much less effort into collecting "Out-Of-Statute" debts, and may give up easily. Out-Of-Statute debts can still be reported to credit bureaus for the time limits specified in the Fair Credit Reporting Act. http://www.cardreport.com/laws/statute-of-limitations.html
Charles Davis Spain Local time: 11:40 Native speaker of: English PRO pts in category: 299