Glossary entry (derived from question below)
Spanish term or phrase:
libertad de amortización
English translation:
(UK + IrE) writing-down allowance
Added to glossary by
Adrian MM. (X)
Jul 11, 2016 17:47
7 yrs ago
30 viewers *
Spanish term
Panama
Languages are Life.
Native in: Spanish 
, French
Works in: English to Spanish, English to French, Dutch to French, and 5 more.
libertad de amortización
Spanish to English
Bus/Financial
Law: Taxation & Customs
Spanish tax law
I. Libertad de amortización: de la que subyace que determinados activos se acogen a una amortización no sujeta a límite alguno a efectos fiscales, esto es, que el sujeto pasivo puede distribuir libremente el coste de los activos.
Comment: I just want to make sure that it is acceptable to use "freedom of amortization"...
Comment: I just want to make sure that it is acceptable to use "freedom of amortization"...
Proposed translations
(English)
| 3 | (UK + IrE) writing-down allowance |
Adrian MM. (X)
|
| 4 +2 | unrestricted depreciation |
patinba
|
| 4 | Expensing allowed |
bigedsenior
|
Change log
Jul 18, 2016 07:07: Adrian MM. (X) Created KOG entry
Proposed translations
2 hrs
Selected
(UK + IrE) writing-down allowance
I agree with patinba about amortis/zation for intangibles and depreciation for tangibles.
Howbeit and albeit, writing-down allowance might be a way around the predicament, as applicable - esp. in Ireland - not only to plant & equipment, but also intangible assets.
Howbeit and albeit, writing-down allowance might be a way around the predicament, as applicable - esp. in Ireland - not only to plant & equipment, but also intangible assets.
Example sentence:
Capital and intangible assets providing practical guidance, forms and precedents on Intangible fixed assets
Reference:
http://www.proz.com/kudoz/spanish_to_english/bus_financial/400553-libertad_de_amortizaci%C3%B3n.html
http://https://www.gov.uk/work-out-capital-allowances/writing-down-allowances
Note from asker:
| thank you for your insight! I agree this solution avoids the conundrum depreciation/amortization! Let's see if we have more views. This international tax terminology should be more unified between Spanish and English... |
4 KudoZ points awarded for this answer.
+2
1 hr
unrestricted depreciation
It is more likely to refer to a tangible asset than an intangible one (where amortization would be correct)
Spain - Corporate deductions - Worldwide Tax Summaries Online - PwC
taxsummaries.pwc.com/uk/.../Spain-Corporate-Deductions
PricewaterhouseCoopers
Unrestricted depreciation of investments in new tangible fixed assets and investment property was regulated for investments made by taxpayers in tax periods ...
depreciation allowance - Traducción al español – Linguee
www.linguee.es/ingles-espanol/traduccion/depreciation allow...
The tax allowance in the form of unrestricted depreciation is available for any income tax or corporation [...] tax paying business. europa.eu. europa.eu. Pueden ...
[PDF]Preparing the accounts pro forma - Volunteer news and resources
https://volunteers.mssociety.org.uk/.../Treasurers' Han...
restricted and unrestricted depreciation. For the definition of an asset, see Appendix G: Glossary. Items costing less than. £2,000 should not be included on this ...
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Note added at 2 hrs (2016-07-11 20:24:40 GMT)
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No harm in saying "depreciation and amortization", Andre.
Spain - Corporate deductions - Worldwide Tax Summaries Online - PwC
taxsummaries.pwc.com/uk/.../Spain-Corporate-Deductions
PricewaterhouseCoopers
Unrestricted depreciation of investments in new tangible fixed assets and investment property was regulated for investments made by taxpayers in tax periods ...
depreciation allowance - Traducción al español – Linguee
www.linguee.es/ingles-espanol/traduccion/depreciation allow...
The tax allowance in the form of unrestricted depreciation is available for any income tax or corporation [...] tax paying business. europa.eu. europa.eu. Pueden ...
[PDF]Preparing the accounts pro forma - Volunteer news and resources
https://volunteers.mssociety.org.uk/.../Treasurers' Han...
restricted and unrestricted depreciation. For the definition of an asset, see Appendix G: Glossary. Items costing less than. £2,000 should not be included on this ...
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Note added at 2 hrs (2016-07-11 20:24:40 GMT)
--------------------------------------------------
No harm in saying "depreciation and amortization", Andre.
Note from asker:
| That's right! I could use "unrestricted depreciation and amortization". Thank you for this help! |
Peer comment(s):
| agree |
Luis Quirindongo
: Or use "amortization" if it's for the US.
4 hrs
|
|
Thank you!
|
|
| agree |
John Rynne
11 hrs
|
|
Thank you!
|
1 day 44 mins
Expensing allowed
When assets are acquired, they are either capitalized and depreciated/amortized, or expensed (written off), or a combination of the two.
With R&D assets, they can be expensed in the year that they occur. There is one exception to this - the acquisition of intangibles, Patents, acquired from another entity.
Where the text is -'activos se acogen a una amortización', it could trans. to 'assets can be expensed'
http://smallbusiness.chron.com/rd-expenses-not-capitalized-4...
I also base this on nearly 20 years of tax accounting.
As for the use of unlimited depreciation, googling should find a number of uses of this term from reliable accounting/tax sources. There are none.
With R&D assets, they can be expensed in the year that they occur. There is one exception to this - the acquisition of intangibles, Patents, acquired from another entity.
Where the text is -'activos se acogen a una amortización', it could trans. to 'assets can be expensed'
http://smallbusiness.chron.com/rd-expenses-not-capitalized-4...
I also base this on nearly 20 years of tax accounting.
As for the use of unlimited depreciation, googling should find a number of uses of this term from reliable accounting/tax sources. There are none.
Discussion
"Es el apartado 3 (letras b y c) del artículo 12 de la LIS el que prevé la libertad de amortización para:
• los elementos del inmovilizado material o intangible afectos a actividades de investigación y desarrollo. Se excluyen los edificios que podrán amortizarse de forma lineal durante un período de 10 años, en la parte que se hallen afectos a las actividades de investigación y desarrollo.
• los gastos de investigación y desarrollo activados como inmovilizado intangible, excluidas las amortizaciones de los elementos que disfruten de libertad de amortización. "