Глоссарий



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Глоссарий по налогам

tax shelter
  1. An opportunity to use, quite legitimately, a relief or exemption from tax to pay less tax than one might otherwise have to pay in respect of similar activities, or the deferment of tax.
maintenance expenses
  1. Expenses incurred by a taxpayer to provide for his family, former spouse or other relatives.

  2. Expenses for the upkeep or preservation of a building or equipment.
gordon report
    1981 report submitted to the us treasury, entitled "tax havens and their use by united states taxpayers - an overview"; it explains the use of us taxpayers make of tax havens, existing anti-abuse ...
intentional set-off
    A benefit provided by one associated enterprise to another associated enterprise within the group that is deliberately balanced to some degree by different benefits received from that enterprise i...
trade intangible
    A commercial intangible other than a marketing intangible.
senate finance committee
    A committee of the us senate that hears proposed new tax laws.
thin capitalisation
    A company is said to be "thinly capitalised" when its equity capital is small in comparison to its debt capital.
under-capitalisation;
shell company
    A company set up by fraudulent operators as a front to conceal tax evasion schemes.
secondary transaction
    A constructive transaction that some countries will assert under their domestic legislation after having proposed a primary adjustment in order to make the actual allocation of profits consistent ...
independent contractor
    A contractor who is self-employed.
personal service corporation
    A corporation the principal activity of which is the performance of personal services; for example, a management consulting company which sends its personnel to prepare a report on a client compan...
thin corporation
    A corporation whose capital is supplied primarily by shareholder loans rather than stock investment.
non-recourse debt
    A debt for which an individual has no personal liability. for example, a lender may take the property pledged as collateral to satisfy a debt, but has no recourse to other assets of the borrower.<...
phantom stock plan
    A deferred-compensation plan that uses the employer`s stock in the business as a measuring rod for determining the value of the compensation payment. hypothetical shares of stock are allocated to ...
service fee
    A fee for the rendering of services is generally regarded as income from business activities or, in the case of a liberal profession, as income from independent personal services.
auxiliary activities
    A fixed place of business through which an enterprise exercises solely an activity which has, for the enterprise, a preparatory or auxiliary character, is, under tax treaties generally, deemed not... preparatory activities;
three-factor apportionment formula
    A formula used by most us states to apportion total federal business income for out-of-state entities in order to determine the tax due a particular state. the formula equally weights the payroll ...
gift inter vivos
    A gratuitous transfer of property made during the transferor`s (donor`s) lifetime. in many countries the gratuitous transfer of property is subject to a gift tax.
fruit and tree doctrine
    A judicial doctrine that an individual who earns income from property of services may not assign such income to another person for tax purposes.
mutual agreement procedure (map)
    A means through which tax administrations consult to resolve disputes regarding the application of double tax conventions. this procedure, described and authorized by article 25 of the oecd model ...
ombudsman
    A member of the us irs commissioner`s immediate staff who directs the irs`s problem resolution program
indirect-charge method
    A method of charging for intra-group services based upon cost allocation and apportionment methods.
model tax conventions (treaties)
    A model tax treaty is designed to streamline and achieve uniformity in the allocation of taxing right between countries in cross-border situations. model tax treaties developed by oecd and un are ...
non-resident alien
    A non-resident individual who is not a citizen or national of the taxing jurisdiction.
pass-through entity
    A nontaxable entity such as a partnership. generally, the income or expense is passed to the underlying owner.
income splitting
    A number of arrangements, the essential feature of which is that income, which would have been taxed at a higher rate in the hands of the person who derived it, is taxed in the hands of another pe...
letter-box company
    A paper company, shell company or money box company, i.e. a company which has compiled only with the bare essentials for organization and registration in a particular country. the actual commercia... paper company;
balancing payment
    A payment, normally from one or more participants to another, to adjust participants’ proportionate shares of contributions, that increases the value of the contributions of the payer and decrease...
resident alien
    A person is said to be a resident alien of a country if he resides in that country but is a citizen of another country.
alien, tax treatment of
    A person who is not a citizen of the country in which he or she lives. in general, most countries do not distinguish between nationals and aliens for tax purposes; rather tax liability is based on...
single taxpayer
    A person who is not married on the last day of the tax year.
portfolio investment
    A portfolio investment in a company would be a holding of shares amounting to a small portion of the total shares of the company, e.g. less than 10%. portfolio investors may receive different tax ...
negative income tax
    A proposed system of providing financial aid to poverty-level individuals and families, using the mechanisms already in place to collect income taxes. low-income person or family would receive a d...
global hedging
    A risk-management strategy to balance positions of different business units or with unrelated third parties.
simultaneous tax examination
    A simultaneous tax examination, as defined in part a of the oecd model agreement for the undertaking of simultaneous tax examinations, means an "arrangement between two or more parties to examine ...
joint return
    A single return made jointly by husband and wife.
restricted stock plan
    A stock option plan under which the transferred stock option is subject to restrictions regarding transferability and to substantial risk of forfeiture. restricted stock is includable in the gross...
non-qualified stock option
    A stock option that does not meet the incentive stock option requirement under us tax law. the spread is taxed as ordinary income.
undue hardship
    A substantial financial loss that would result to a taxpayer from making payment on the due date of the amount of taxes with respect to which the extension is desired. undue hardship is a conditio...
flat tax
    A tax applied at the same rate to all levels of income. it is often discussed as an alternative to the progressive tax.
frivolous position
    A tax position that is knowingly advanced in bad faith and is patently improper.
second-tier subsidiary
    A taxable entity controlled by another taxable entity that is in turn controlled by a third entity.
tax home
    A taxpayer`s regular place of business or post of duty, regardless of where the taxpayer a family home.
evasion
    A term that is difficult to define but which is generally used to mean illegal arrangements where liability to tax is hidden or ignored, i.e. the taxpayer pays less tax than he is legally obligate... tax evasion;
secret comparable
    A term used in the transfer pricing context. it denotes a comparable whose data is not disclosed to the public or the taxpayer but known only to the tax authority which is making the transfer pric...
arm`s length range
    A term used in transfer pricing to describe a range of values that can be defined for purpose of selecting an appropriate arm`s length price from comparable transactions.
green card test
    A test in the us to determine residence of an alien individual, i.e. an alien is considered resident if at any time during the calendar year he is a lawful permanent resident of the us under the i...
sham transaction
    A transaction without substance, which will be ignored for tax purposes.
transactional net margin method
    A transactional profit method that examines the net profit margin relative to an appropriate base (e.g. costs, sales, assets) that a taxpayer realizes from a controlled transaction (or transaction...
gift causa mortis
    A transfer of property by a person who faces impending death. the donee thereby becomes the owner of the property, but on the condition that the gift is revoked if the donor does not die.
comparable uncontrolled price (cup) method
    A transfer pricing method that compares the price for property or services transferred in a controlled transaction to the price charged for property or services transferred in a comparable uncontr...
transactional profit method
    A transfer pricing method that examines the profits that arise from particular controlled transactions of one or more of the associated enterprises participating in those transactions.
internal revenue bulletin (irb)
    A weekly publication summarizing various irs administrative rulings.
mne
    Abbreviation for multinational enterprises
realized gain/loss
    Actual gain/loss realized from the disposal of an asset.
transfer pricing adjustment
    Adjustment made by the tax authorities after making a determination that a transfer price in a controlled transaction between associated enterprises is incorrect or where an allocation of profits ...
tax information exchange agreement (ties)
    Agreement which allows governments to share tax and other information with a view to combating tax evasion, drug trafficking, etc.
income subject to tax
    All sources of income liable to tax without taking account of tax allowances.
direct method of allocation of costs
    Allocation method where the parent company or group service centre of a multinational enterprise providing central management and other services charges each member of the group directly for indiv...
investment allowance
    Allowance with respect to a qualifying depreciable asset. it adds a certain percentage of the asset`s initial cost to the full depreciation write-off and is usually given in the year of acquisitio... investment deduction;
derivative financial instruments
    Also known as derivatives. these are financial instruments whose values are linked to or depend on the value of a primary (underlying) asset, e.g. debt assets, liabilities and equity securities, c...
immovable property
    Also known as real property, immovable property comprises land, houses and buildings.
nominal capital
    Amount of capital that is defined as such in the articles of incorporation. usually, a certain minimum amount of nominal capital is required to establish a legal entity.
net operating loss
    Amounts by which business expenses exceed income in a tax year. a trader`s operating losses constitute broadly the excess of his operating expenditure over receipts from his operations.
accrual basis (accrual method)
    An accounting method whereby income and expense items are included in taxable income or expense as they are earned or incurred, rather than when they are received or paid
shareholder activity
    An activity which is performed by a member of an mne group (usually the parent company or a regional holding company) solely because of its ownership interest in one or more other group members, i...
primary adjustment
    An adjustment that a tax administration in a first jurisdiction makes to a company`s taxable profits as a result of applying the arm`s length principle to transactions involving an associated ente...
secondary adjustment
    An adjustment that arises from imposing tax on a secondary transaction.
tax treaty
    An agreement between two (or more) countries for the avoidance of double taxation. a tax treaty may be titled a convention, treaty or agreement.
double taxation treaty;
foreign currency swap
    An agreement under which two or more parties agree to exchange specified amount of two different currencies for a defined period. over the term of the agreement, the parties exchange fixed or floa...
treaty shopping
    An analysis of tax treaty provisions to structure an international transaction or operation so as to take advantage of a particular tax treaty. the term is normally applied to a situation where a ...
residual analysis
    An analysis used in the profit split method which divides the combined profit from the controlled transactions under examination in two stages. in the first stage, each participant is allocated su...
advance pricing arrangement (apa)
    An arrangement that determines, in advance of controlled transactions, an appropriate set of criteria (e.g. method, comparables and appropriate adjustments thereto, critical assumptions as to futu...
office audit
    An examination at a tax authority’s office, generally of an uncomplicated tax matter.
field audit
    An examination of a tax return by tax authorities at the taxpayer`s place of business.
marketing intangible
    An intangible that is concerned with marketing activities, which aids in the commercial exploitation of a product or service and/or has an important promotional value for the product concerned.
internal revenue manual (irm)
    An official compilation of policies, procedures, instructions, and guidelines for the organization, functions, operation, and administration of the internal revenue service. the irm guidelines do ...