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Crédito fiscal no activado

English translation: Unused tax relief

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Crédito fiscal no activado
English translation:Unused tax relief
Entered by: Adrian MM.

09:38 Oct 28, 2020
Spanish to English translations [PRO]
Bus/Financial - Accounting
Spanish term or phrase: Crédito fiscal no activado
Heading on a company audit

Las bases imponibles negativas son las siguientes:
Año de origen
Base imponible
*Crédito fiscal no activado*

The only thing I can think of is something like "Tax credit not recognised as an asset"
William Pairman
Spain
Local time: 23:43
Unused tax relief / e.g. carried across, back or forward/
Explanation:
I very much doubt a US-type: tax credit can be 'non-capitalized'. There may be a mix-up with a 'capital writing-down allowance'.

The company can 'elect' to use the tax relief in the present accounting ref. period or in another one.

ProZ-listed accountants who may have qualified long ago, if they remember their accounting and auditing studies and / or practic/se - not necessarily a foregone conclusion these days, may care to confirm or otherwise.

The previous ProZ question clearly went off on this tack: "La empresa tiene activado el crédito fiscal sobre las perdidas de años anteriores" > the company has applied the tax BrE: relief to > by setting against losses from previous years
Selected response from:

Adrian MM.
Austria
Grading comment
Two fantastic answers, many thanks everyone
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3Unused tax relief / e.g. carried across, back or forward/
Adrian MM.
4unused tax credit
Francois Boye
Summary of reference entries provided
Refs.
Taña Dalglish

  

Answers


32 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
Unused tax relief / e.g. carried across, back or forward/


Explanation:
I very much doubt a US-type: tax credit can be 'non-capitalized'. There may be a mix-up with a 'capital writing-down allowance'.

The company can 'elect' to use the tax relief in the present accounting ref. period or in another one.

ProZ-listed accountants who may have qualified long ago, if they remember their accounting and auditing studies and / or practic/se - not necessarily a foregone conclusion these days, may care to confirm or otherwise.

The previous ProZ question clearly went off on this tack: "La empresa tiene activado el crédito fiscal sobre las perdidas de años anteriores" > the company has applied the tax BrE: relief to > by setting against losses from previous years

Example sentence(s):
  • "La empresa tiene activado el crédito fiscal sobre las perdidas de años anteriores"

    Reference: http://www.proz.com/kudoz/spanish-to-english/law-general/143...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 75
Grading comment
Two fantastic answers, many thanks everyone

Peer comments on this answer (and responses from the answerer)
agree  James Swan
1 hr
  -> Thanks and gracias.
agree  Luis M. Sosa: Seems to make sense with both Tañia's references and with Askers's take. I would go with 'unused' rather than with 'uncapitalised'.
3 hrs
  -> Gracias and thanks. I have a problem with the idea of 'non/capitalis/zation' of a tax credit or relief that is basically a deduction from income or profits.
agree  EirTranslations
7 hrs
  -> Gracias and thanks.
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
unused tax credit


Explanation:
Unused tax credits Unused tax credits in a pay week or month are carried forward to later pay period (s) in the same tax year.

https://www.law.cornell.edu/uscode/text/26/39

Francois Boye
United States
Local time: 17:43
Native speaker of: Native in FrenchFrench
PRO pts in category: 129
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Reference comments


36 mins peer agreement (net): +2
Reference: Refs.

Reference information:
https://www.unionfenosagas.com/CarpetaCompartida/comunicacio... (page 52)
22.4. Conciliación del tipo impositivo español y el tipo efectivo consolidado
La conciliación entre el gasto por el impuesto sobre beneficios resultante de aplicar el tipo impositivo general vigente
en España y el gasto registrado por el citado impuesto es la siguiente:
Diferencias permanentes netas consolidadas (efecto impositivo) 2018 2017
- Créditos fiscales no activados 77 96

Page 182 (English)
22.4. Reconciliation of the Spanish tax rate and the effective consolidated rate
Reconciliation of corporate income tax resulting from applying the current general tax rate in force in Spain and the
tax expense recognised is as follows:

- Uncapitalised tax credit


Page 75
Differences between the carrying value of assets and liabilities and their tax base, as well as any tax-loss carry forwards
yet to be offset and ** tax credits that have not yet been applied**, generate the deferred tax asset or liability balances that
are calculated using the tax rate that is expected to be applied or settled.


https://www.bmerf.es/docs/docsSubidos/MARF/DIPagarésMARF/Aed...
Page 101 2017 2016
c) Conciliación entre el resultado contable y el gasto por impuesto sobre sociedades
Base imponible fiscal previa (18.065.665) (52.445)
- Créditos fiscales no activados aplicados
- Créditos fiscales generados en el ejercicio no activados



https://nanopdf.com/download/informe-anual-2013-annual-repor... (Fenosa Gas Group uses "uncapitalised tax credits")
Short Description
Download Informe anual 2013 Annual report 2013...

Description
Informe anual 2013 Annual report 2013 Grupo Unión Fenosa Gas Unión Fenosa Gas Group
23.4
La conciliación entre el gasto por el impuesto sobre beneficios resultante de aplicar el tipo impositivo general vigente en España y el gasto registrado por el citado impuesto es la siguiente:

Diferencias permanentes netas consolidadas (efecto impositivo)
- Créditos fiscales no activados - 342
- Provisiones de cartera - -


Net Consolidated permanent differences (tax effect)
***- Uncapitalised tax credits - 342 ***
- Portfolio provisions - -
- Dividends from associates (not exempt) 2,493 1,162
- Other adjustments (3,850) (5,215)



Perhaps "non-activated tax credits" / "uncapitalis(z) tax credits" (used by Fenosa Gas Group)?

Taña Dalglish
Jamaica
Native speaker of: English
PRO pts in category: 88

Peer comments on this reference comment (and responses from the reference poster)
agree  Luis M. Sosa
3 hrs
  -> Thanks Luis.
agree  EirTranslations
7 hrs
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