Glossary entry (derived from question below)
Norwegian term or phrase:
bortfall
English translation:
loss (of tax status); de-recognition
Added to glossary by
Adrian MM. (X)
Sep 27, 2007 06:52
16 yrs ago
4 viewers *
Norwegian term
bortfall
Norwegian to English
Law/Patents
Law (general)
Section 14-90 of the Taxation Act reads: "Bortfall eller oppgjør av generelle skatteposisjoner ved skattemotiverte transaksjoner.
Når slikt selskap mv. er part i fusjon eller fisjon eller får endret eierforhold som følge av fusjon, fisjon eller annen transaksjon, og det er sannsynlig at utnyttelse av den generelle skatteposisjonen er det overveiende motiv for transaksjonen, skal posisjonen
a. falle bort dersom den representerer en skattefordel, eller
b. inntektsføres uten rett til avregning mot underskudd dersom den representerer en skatteforpliktelse
I have a client who has translated parts of a text and has used"lapse", which I disagree with.
I interpret it to mean that the tax position shall cease to apply (faller bort). But what is the legal term in this context for "bortfall"?
(http://www.lovdata.no/all/tl-19990326-014-066.html#14-90 )
Når slikt selskap mv. er part i fusjon eller fisjon eller får endret eierforhold som følge av fusjon, fisjon eller annen transaksjon, og det er sannsynlig at utnyttelse av den generelle skatteposisjonen er det overveiende motiv for transaksjonen, skal posisjonen
a. falle bort dersom den representerer en skattefordel, eller
b. inntektsføres uten rett til avregning mot underskudd dersom den representerer en skatteforpliktelse
I have a client who has translated parts of a text and has used"lapse", which I disagree with.
I interpret it to mean that the tax position shall cease to apply (faller bort). But what is the legal term in this context for "bortfall"?
(http://www.lovdata.no/all/tl-19990326-014-066.html#14-90 )
Proposed translations
(English)
| 4 | loss (of tax status); ademption (of legacy) |
Adrian MM. (X)
|
| 3 | discharge of |
Vedis Bjørndal
|
| 2 | cessation of application |
Thomas Deschington (X)
|
Change log
Oct 2, 2007 06:58: Adrian MM. (X) Created KOG entry
Proposed translations
1 day 10 hrs
Selected
loss (of tax status); ademption (of legacy)
I'd use tax status or (UK schedular case) category rather than position. So the tax status will be lost (not forfeited, nor lapse).
Ronald Craig's discharge is usable for contracts only.
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Note added at 3 days10 hrs (2007-09-30 17:06:35 GMT)
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De-recognition - as a charge-off and removal from the accounts - may sound awful, but it can possibly also work with tax status: cf. Ausbuchung in DE www.proz.com/kudoz/1719210
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Note added at 5 days (2007-10-02 07:00:37 GMT) Post-grading
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Well let us or me - having clocked up the Revenue Law exam paper at Eng. Law Finals - know if you find it.
Ronald Craig's discharge is usable for contracts only.
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Note added at 3 days10 hrs (2007-09-30 17:06:35 GMT)
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De-recognition - as a charge-off and removal from the accounts - may sound awful, but it can possibly also work with tax status: cf. Ausbuchung in DE www.proz.com/kudoz/1719210
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Note added at 5 days (2007-10-02 07:00:37 GMT) Post-grading
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Well let us or me - having clocked up the Revenue Law exam paper at Eng. Law Finals - know if you find it.
Example sentence:
Judge upholds loss of tax-exempt status ___WASHINGTON (RNS)--A federal judge has approved the Internal Revenue Service's decision to lift the tax-exempt ...
3 KudoZ points awarded for this answer.
Comment: "I checked out "derecognition and, from what I could see, this is something which companies themselves have to determine with respect to their accounts rather than a decision made by the tax authorities. I've already spent too much time on this one, so I'm going for your suggestion of "loss of", Tom. But as I'm still not 100% that there's not a more specific term out there somewhere I'm not awarding full points. But thanks a million for your contributions!"
30 mins
cessation of application
I agree with your interpretation (lapse is a result of failing to fulfill or comply with some requirement).
I see cessation of application is used as a legal term, if not entirely in your context.
I see cessation of application is used as a legal term, if not entirely in your context.
2 days 8 hrs
Vedis Bjørndal
Norway
Norway
Native in Norwegian
Specializes in field
Norway
Business, law, technical, and medical
Native in: Norwegian (Variants: Nynorsk, Bokmål)
Works in: English to Norwegian, Norwegian to English, Swedish to Norwegian (Bokmal)
Related KudoZ points
:
36
discharge of
You'll find lots of hits for this one.
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Note added at 2 days8 hrs (2007-09-29 15:52:00 GMT)
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Ref: Anglo Scandinavian Law distionary. Universitetsforlaget
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Note added at 2 days8 hrs (2007-09-29 15:52:00 GMT)
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Ref: Anglo Scandinavian Law distionary. Universitetsforlaget
Note from asker:
| This refers to contract law, Vedis (bortfall av avtale), so it doesn't fit my context, unfortunately. |
Discussion