Glossary entry

Spanish term or phrase:

IVAs

English translation:

VAT returns

Added to glossary by Robert Carter
Jun 22, 2018 02:41
6 yrs ago
14 viewers *
Spanish term

IVAs

Spanish to English Bus/Financial Law: Taxation & Customs Tax documents / Banking (Chile)
These are listed as some of the financial documents required by Chilean banks to open an account with them:

"Información financiera actualizada (***IVAS*** a lo menos 3 de los últimos 6 meses o en su defecto último balance anual)."
http://ww3.bancochile.cl/wps/wcm/connect/pyme/portal/product...

"Últimas 2 declaraciones de renta
Últimos 6 ***IVAs*** o 6 ultimas boletas"
https://www.renault.cl/services/servicios-financieros.html

I presume this means "VAT returns", I'd just like confirmation if so.

Thanks!
Proposed translations (English)
4 +4 VAT returns
4 -1 VATs

Discussion

Robert Carter (asker) Jun 23, 2018:
@Francois I think you're missing the point. The context here is "Últimos 6 IVAs o 6 ultimas boletas". Even if you could theoretically use the word VATs to refer to value-added taxes (which I haven't really seen before), you can't translate the word "IVAs" as "VATs" here because it's meaningless in English (as it is in Spanish, outside Chile, that is).

What would the "last 6 VATs" mean in the context of documents required to open a bank account?
Francois Boye Jun 22, 2018:
@ Allegro

This was not a one-off. See below:

While most European countries began with VATs of just five percent, the rates have climbed to an average 20 percent.

Source: https://www.speaker.gov/general/seven-things-every-american-...
Robert Carter (asker) Jun 22, 2018:
Thanks, Phil, yes, I can't imagine what else it could be.
philgoddard Jun 22, 2018:
Must be. They have VAT in Chile.

Proposed translations

+4
3 hrs
Selected

VAT returns

I don't think you can call them "VATs" in English, but yes, this is related to Chilean VAT, as Phil says:

"El IVA es la abreviatura al Impuesto al Valor Agregado (IVA), cargo fiscal que rige sobre bienes o servicios y que es incorporado en toda transacción comercial, incidiendo, por tanto, en el precio de venta.
Según lo establece la ley, toda venta igual o superior a $180 debe pagar este cargo.
En Chile, el IVA ascienda al 19%."
http://www.emprende.cl/que-es-el-iva-2/

This use of "IVAs" as a plural noun, of which there are a number of Chilean examples online, does indeed refer to VAT returns, which are monthly in Chile. It's Form 29:

"Formas de acreditar
Código y clave de Carpeta Tributaria Electrónica o 3 últimos IVAs cancelados (formulario 29). Si es una empresa nueva sin IVAs puede acreditar con el original del encabezado de la cartola de cuenta corriente"
http://www.entel.cl/empresas/landing/comocontratar/

"FORMULARIO 29
En esta página podrá ver una imagen del Formulario 29 de Declaración Mensual y Pago Simultáneo, vigente a partir del 4 de marzo de 2011. Esta imagen del formulario es una muestra que no es válida para declarar. "
http://www.sii.cl/pagina/iva/Form29.htm

And here is the form itself:
http://www.sii.cl/formularios/imagen/F29.pdf

I posted this answer because I thought you'd like chapter and verse.
Note from asker:
Many thanks, Charles. I had hoped it would be as easy as getting confirmation from someone based in Chile, but that's very well researched, as usual. Saludos!
Peer comment(s):

agree neilmac
43 mins
Thanks, Neil ;-)
agree AllegroTrans : well researched
6 hrs
Thanks, Chris!
agree philgoddard
7 hrs
Thanks, Phil!
agree Mónica Hanlan
8 hrs
Thanks, Mónica :-)
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Thanks again, Charles!"
-1
1 hr

VATs

I confirm

--------------------------------------------------
Note added at 15 hrs (2018-06-22 17:52:25 GMT)
--------------------------------------------------

In practice, the key distinction is that VATs are collected at each stage of production, whereas retail sales taxes are collected only at point of final sale

Source:https://www.brookings.edu/research/a-value-added-tax-for-the...
Note from asker:
Thanks, Francois, but I agree with AllegroTrans here, this doesn't work in English.
Peer comment(s):

disagree AllegroTrans : VAT is a singular concept and it does not pluralise. // Your ref is a on-off, it's clearly wrong and if you google "VATs" you won't get any other hits referrring to value added tax; you need to read into the CONTEXT of the question
7 hrs
see above an example dismissing your categorical statement// This is a writing of the Brookings Institute, A first cjass Washington D.C based policy institute.
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