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por retiro del primero

English translation: because of the withdrawal of the partner

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14:26 Dec 1, 2003
Spanish to English translations [PRO]
Law/Patents / Income Tax Regulations
Spanish term or phrase: por retiro del primero
Para efecto del numeral 6), inciso b) del artículo 3º de la Ley forma parte de la renta gravada de las empresas la diferencia entre el costo computable y el valor asignado a los bienes adjudicados al socio o titular de la empresa individual de responsabilidad limitada, **por retiro del primero** o disolución parcial o total de cualquier sociedad o empresa.

I don’t understand this sentence, in particular the “por retiro del primero” bit. I hope someone can help me… Here is a provisional attempt:

For purposes of Article 3, section b), paragraph 6), of the Income Tax Law, the difference between the cost basis and the value assigned to the goods allocated to the shareholder/s or owner/s of an individual limited liability company, forms part of the taxable income of the company, …???

Many thanks in advance!
Olaf Reibedanz
Colombia
Local time: 09:14
English translation:because of the withdrawal of the partner
Explanation:
retiro is any kind of withdrawal, not necessarily retirement, except maybe in Puerto Rico... or among U.S. Hispanics
Selected response from:

Marian Greenfield
Local time: 09:14
Grading comment
Thank you everybody!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5because of the withdrawal of the partner
Marian Greenfield
4 +1due to the withdrawal of the former
Parrot
4as a result of the withdrawal of one of the partners
Nitza Ramos


  

Answers


16 mins   confidence: Answerer confidence 5/5
because of the withdrawal of the partner


Explanation:
retiro is any kind of withdrawal, not necessarily retirement, except maybe in Puerto Rico... or among U.S. Hispanics


    20 years in the business - most of it managing translation service for an investment bank
Marian Greenfield
Local time: 09:14
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 14613
Grading comment
Thank you everybody!
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52 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
due to the withdrawal of the former


Explanation:
I'd stick to former because the EIRL (empresa individual) is unipersonal by definition. In that sense, your "shareholder/owner" is OK, but "costo computable" would refer more to calculable costs rather than cost basis accounting.



    Reference: http://www.mintra.gob.pe/prodame/index_02.asp
Parrot
Spain
Local time: 15:14
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 7645

Peer comments on this answer (and responses from the answerer)
agree  NoraBellettieri
10 hrs
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
as a result of the withdrawal of one of the partners


Explanation:
.

Nitza Ramos
United States
Local time: 09:14
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 176
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