Glossary entry

Italian term or phrase:

Caro petrolio

English translation:

fuel tax credit

Added to glossary by Philip Trommel
Nov 27, 2018 20:13
5 yrs ago
8 viewers *
Italian term

Caro petrolio

Italian to English Law/Patents Law: Taxation & Customs
This is from the Italian corporate income tax form Table RU - Tax credits granted to the company. It's a section header. I have no other context to provide, unfortunately, The term is not used further on any of the lines in the section.

Discussion

Lisa Jane Nov 27, 2018:
Caro petrolio usually refers to increased fuel prices

Proposed translations

1 hr
Selected

fuel tax credit

"In managing fuel intensive operations, organisations are facing the ongoing pressures of rising costs. The Fuel Tax Credit (FTC) enables organisations to mitigate some of the added financial strain that comes from the excise embedded in the price of fuel."
https://home.kpmg.com/au/en/home/services/tax/advisory/fuel-...

"SEZIONE II: CARO PETROLIO - CODICE CREDITO 23
Nella presente Sezione deve essere indicato il credito d’imposta previsto a favore di esercenti alcune attività di trasporto merci, enti e imprese pubbliche di trasporto, esercenti autoservizi e trasporti a fune con riferimento ai consumi di gasolio.
Considerate le variazioni dell’incidenza sul prezzo al consumo del gasolio per autotrazione derivante dall’andamento dei prezzi internazionali del petrolio, è stata prevista a decorrere dal 1º settembre 2000 e fino al 31 dicembre 2000, per il gasolio per autotrazione utilizzato da determinati soggetti, la riduzione
dell’aliquota di accisa di euro 88,31 per 1.000 litri di prodotto."
Peer comment(s):

neutral philgoddard : I've already said this, except I called it duty rather than tax. They both mean the same thing.
13 mins
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4 KudoZ points awarded for this answer. Comment: "This makes perfect sense. Mille grazie! "
29 mins

Deduction for high fuel prices

This is an educated guess, not official as far as I know.

If you read all the explanations for "caro petrolio" in the PDF found here (regarding the RU schedule you mentioned):

http://odcecvasto.it/Pubblica.download.aspx?file=/Circolari/...

you can see that it talks about a deduction that can be taken by trucking companies due to high fuel/petroleum prices.
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31 mins

fuel price allwance


Or fuel duty allowance, or credit. I'd be inclined to ignore "caro" for translation purposes, but you could say "increased" or "high" or something like that.

Gli autotrasportatori, per conto proprio o terzi di persone o cose,
godono di un credito di imposta cosiddetto "caro petrolio", introdotto dal D.P.R. n. 277/2000, recentemente modificato dall'art. 61, D.L. n. 1/2012 per l'aumento delle accise dei carburanti.
http://www.fiscal-focus.it/all/Casi_e_questioni_n._55_del_04...
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59 mins

High oil prices

It means the high prices of oil, normally always on the increase
Example sentence:

Anche quest'anno il caro petrolio ha determinato un aumento dei prodotti al consumo

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1 hr

High oil cost

.
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