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deduccions per bonificacions

English translation: Tax concessions

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Catalan term or phrase:deduccions per bonificacions
English translation:Tax concessions
Entered by: S Ben Price

22:59 Jan 8, 2014
Catalan to English translations [PRO]
Bus/Financial - Finance (general)
Catalan term or phrase: deduccions per bonificacions
This sentence doesn't make any sense to me. It seems to have "deduction" three times in a row (Deductions related to deductions are considered deductions...) and I'm not sure how to get around that because I don't really understand what it is saying. Is there some fine difference between the three? Any ideas?

Orig
El benefici fiscal corresponent a les deduccions per bonificacions es considera com un menor import de l’Impost sobre Societats de l’exercici en què es materialitzen. Per tal que aquestes deduccions siguin efectives, s’hauran de complir els requisits establerts en la normativa vigent.

Rough draft
Fiscal benefits related to deductions for benefits are considered to be deductions in income tax for the year in which they occur.

Alternate
Deductions related to deduction allowances are considered to be reduced income tax in the year in which they occur.
S Ben Price
Spain
Local time: 01:59
Tax concessions
Explanation:
Tax reductions (deriving from tax concessions) are considered to be lower than Corporation Tax rates for the year in which they occur.

Definition of tax concession = tax reduction encouraging investment.



The point here (I think) is that companies are given tax concessions or reductions so that the tax return comes out more favourable (thereby encouraging investment). Although these concessions are still less than Corporate Tax rates- ie. they will still have to pay something.

Yes, it's repetitive in Catalan or Spanish, where in English this wouldn't be necessary. I wouldn't translate benefici so directly into English, as it so often doesn't translate well into "benefit" (usually profit, gain, allowance, etc). On the other hand, I'd add the word "rates", clearer in English.

Hope this helps! Good luck
Selected response from:

Rachael West
Spain
Local time: 01:59
Grading comment
Thanks!
4 KudoZ points were awarded for this answer



Summary of answers provided
3deductions for allowances
Helena Chavarria
3Tax concessions
Rachael West


  

Answers


24 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
deductions for allowances


Explanation:
This is a vary basic translation but I think it's enough to give you a rough idea. A specialist on financial texts could give you a more professional translation.

'The sum of the tax benefit corresponding to the deductions for allowances shall be less than the Company Tax for the financial year in which it occurs.'

Meaning that the benefits cannot be higher than the amount they have to pay.

Why don't you translate the text into Spanish and post your question in the SP>ENG forum?

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Note added at 1 hr (2014-01-09 00:23:45 GMT)
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Yes, I think 'are considered to be' is fine. I'm more concerned about 'occur'. I wriggled my way out of financial translations some years ago and I'm afraid I've forgotten a lot of specialised vocabulary. I know tax is accrued but what about benefits?

Helena Chavarria
Spain
Local time: 01:59
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Notes to answerer
Asker: Just going on previous segments of the translation, I'm pretty confident about the "are considered to be" part. They are describing how and where all the different transactions and assets/liabilities are defined and recorded. I can definitely use some of this though. Thanks : )

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11 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Tax concessions


Explanation:
Tax reductions (deriving from tax concessions) are considered to be lower than Corporation Tax rates for the year in which they occur.

Definition of tax concession = tax reduction encouraging investment.



The point here (I think) is that companies are given tax concessions or reductions so that the tax return comes out more favourable (thereby encouraging investment). Although these concessions are still less than Corporate Tax rates- ie. they will still have to pay something.

Yes, it's repetitive in Catalan or Spanish, where in English this wouldn't be necessary. I wouldn't translate benefici so directly into English, as it so often doesn't translate well into "benefit" (usually profit, gain, allowance, etc). On the other hand, I'd add the word "rates", clearer in English.

Hope this helps! Good luck

Rachael West
Spain
Local time: 01:59
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thanks!
Login to enter a peer comment (or grade)



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