Glossary entry (derived from question below)
Spanish term or phrase:
Ingresos Brutos
English translation:
turnover tax
Added to glossary by
patinba
Aug 28, 2019 12:01
4 yrs ago
45 viewers *
Spanish term
Translator / Teacher of English
Native in: Spanish
Works in: English to Spanish, Spanish to English
Ingresos Brutos
Spanish to English
Law/Patents
Insurance
Es una poliza de seguro de Responsabilidad Civil por Errores y Omisiones Profesionales
Premio anual sin IVA ni Ingresos Brutos
¡Gracias!
Premio anual sin IVA ni Ingresos Brutos
¡Gracias!
Proposed translations
(English)
| 4 +3 | turnover tax |
patinba
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| 5 | Gross income/revenue |
Andrea Luri Abe
|
| 3 | (AmE) Sales Volume before tax |
Adrian MM.
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| 1 +1 | Insurance Premium Tax |
neilmac
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Change log
Sep 11, 2019 11:32: patinba Created KOG entry
Proposed translations
+3
1 hr
Selected
turnover tax
Taxes in Europe Database v2 - European Commission
ec.europa.eu › taxation_customs › tedb › legacy › taxDetail
Tax name in the national language, Φόρος Ασφαλίστρων (πρώην φόρος κύκλου εργασιών). Tax name in English, Insurance premium tax (previously turnover tax).
"As the name implies, Turnover Tax is a type of tax, which is calculated against the turnover of a business, as opposed to a percentage of profit (i.e. income less business expenses) as per usual business tax."
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Note added at 4 hrs (2019-08-28 16:32:38 GMT)
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Turnover tax is calculated by applying a tax rate to the turnover (sales, or premium income in this case) of a business, and in this case it is calculated as a percentage of the premium charged to the policy-holder and added to its cost.
ec.europa.eu › taxation_customs › tedb › legacy › taxDetail
Tax name in the national language, Φόρος Ασφαλίστρων (πρώην φόρος κύκλου εργασιών). Tax name in English, Insurance premium tax (previously turnover tax).
"As the name implies, Turnover Tax is a type of tax, which is calculated against the turnover of a business, as opposed to a percentage of profit (i.e. income less business expenses) as per usual business tax."
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Note added at 4 hrs (2019-08-28 16:32:38 GMT)
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Turnover tax is calculated by applying a tax rate to the turnover (sales, or premium income in this case) of a business, and in this case it is calculated as a percentage of the premium charged to the policy-holder and added to its cost.
Peer comment(s):
| neutral |
philgoddard
: This looks like it might make sense in the context, but I can't see why you've used a Greek example. And " insurance premium tax" makes more sense than "turnover tax" in this context.
2 hrs
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Just because it was the only example that cropped up with "insurance" in it.
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| agree |
Robert Carter
: I agree with Phil that while this is the only thing that makes sense in the context, your explanation is too vague. Having said that, and assuming it's from Argentina, I'm giving this an agree.
2 hrs
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Thanks, Richard!
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| agree |
Paula Hernandez
: Es esto en Argentina. Totalmente de acuerdo. No había entendido bien el contexto cuando respondí.
7 hrs
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Muchas gracias, Paula!
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| agree |
Georgina Grigioni
9 days
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Gracias!
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4 KudoZ points awarded for this answer.
Comment: "Selected automatically based on peer agreement."
4 hrs
Andrea Luri Abe
Peru
Peru
Peru
Engineering, wastewater, environment
Native in: Portuguese (Variant: Brazilian)
Works in: English to Portuguese, Spanish to Portuguese, Portuguese to English, and 3 more.
Gross income/revenue
Income para personas y revenue para empresas
+1
6 hrs
Insurance Premium Tax
Based on everyone else's research and comments, it looks like this could be something equivalent to the UK's "Insurance Premium Tax", a type of indirect tax levied on general insurance premiums in the United Kingdom. "
I don't know much about US taxation, so even if this suggestion turns out to be valid, the term may be different over there.
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Note added at 6 hrs (2019-08-28 18:08:03 GMT)
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If it is indeed some sort of turnover tax, I might be tempted just to translate the sentence as "Annual premium without VAT or Other taxes"
https://www.euraxess.es/spain/direct-and-indirect-taxation
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Note added at 6 hrs (2019-08-28 18:09:19 GMT)
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NB: Patinba mentioned it first: "Insurance premium tax (previously turnover tax)"...
I don't know much about US taxation, so even if this suggestion turns out to be valid, the term may be different over there.
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Note added at 6 hrs (2019-08-28 18:08:03 GMT)
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If it is indeed some sort of turnover tax, I might be tempted just to translate the sentence as "Annual premium without VAT or Other taxes"
https://www.euraxess.es/spain/direct-and-indirect-taxation
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Note added at 6 hrs (2019-08-28 18:09:19 GMT)
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NB: Patinba mentioned it first: "Insurance premium tax (previously turnover tax)"...
Peer comment(s):
| agree |
Luis M. Sosa
: Agree based on my comment and your notes (2). Turnover does not belong in the insurance lingo.
20 hrs
|
8 hrs
Adrian MM.
Austria
Austria
Native in English
Specializes in field
Austria
Retd.T&I, Barrister & Austro-Advokat
Native in: English (Variants: British, Scottish) 
Works in: Spanish to English, English to Spanish, French to English, and 5 more.
Related KudoZ points
:
24
(AmE) Sales Volume before tax
Better avoid the term of 'turnover' (e.g. victims turned over by scammers and con artists) for US consumption.
The second web ref. is unhelpful, failing to distinguish - as it does - between US and UK usage of sales vs. turnover.
The second web ref. is unhelpful, failing to distinguish - as it does - between US and UK usage of sales vs. turnover.
Example sentence:
Sales volume is the number of units of inventory sold during an accounting period.
Peer comment(s):
| neutral |
patinba
: Sales volume is not the same as sales. Also, the context indicates that the premium cost has been given "without VAT or IB (a tax)" so your answer makes little sense.
3 hrs
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Sales volume is a measure of sales and there is no indication that the the IB tax is meant. The premium could quite logically be based on 'turnover' and not on a premium tax deduction.
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Discussion
https://www.proz.com/kudoz/spanish-to-english/law-taxation-c...
"Argentina has both a Value-added tax (VAT), and a local tax called the Turnover tax, known locally as Impuesto sobre los ingresos brutos (IIBB) of 3% to 6%"
"El punto más perjudicial de los IIBB es que la alícuota del impuesto (que varía según la provincia y el rubro) se aplica sobre el monto facturado por la empresa, sin poder descontar gastos de servicios, compras o insumos adquiridos para su producción. A diferencia del IVA (en el que las empresas declaran sus ventas y restan sus compras como “crédito fiscal”, tributando por la diferencia o “valor agregado”) o de Ganancias (en que las firmas pueden descontar sus principales gastos), en IIBB el impuesto se aplica sobre el total facturado."
https://www.eleconomista.com.ar/2018-09-por-que-ingresos-bru...
Creo que la repuesta de Patinba es la que mejor encaja en este contexto. Quité mi respuesta porque no entendí bien el contexto cuando respondí.
Me confunde el hecho de que "Ingresos Brutos" puede ser confundido por el ingreso bruto de una persona, pero no es así, es un impuesto como lo explicás vos Luis. Gross income me parece que no aplica y no estoy segura con respecto a "turnover tax". Sigo investigando. Gracias
Prima neta (net premium) y prima bruta (gross premium). La prima bruta (gross premium) incluye todos los impuestos a los que la celebración del contrato de seguro se generan en cada jurisdicción. Parece ser que el source text alude a aquella sección de la póliza que fija la prima del seguro, pero es algo que Carolina nos debe confirmar.