Glossary entry

German term or phrase:

rückgängig machen

English translation:

cancel out

Added to glossary by Transflux (X)
Feb 10, 2005 13:09
19 yrs ago
2 viewers *
German term

rückgängig machen

German to English Bus/Financial Law: Taxation & Customs
Werden Vorsteuerbeträge durch die nachfolgende Besteuerung eines Eigenverbrauchs rückgängig gemacht, so kann die auf den Eigenverbrauch entfallene Umsatzsteuer von der Bemessungsgrundlage abgezogen werden.

I'm not sure what the best verb to use would be here - retracted or cancelled?
Thanks for any suggestions
Proposed translations (English)
3 +1 cancelled/canceled
4 +2 reverse
4 revoke(d)

Proposed translations

+1
25 mins
German term (edited): r�ckg�ngig machen
Selected

cancelled/canceled

I think cancelled sounds better here.
Peer comment(s):

agree Michael Schubert : Doesn't only sound better, it is better! :-) The prior/prepaid tax sums are cancelled (out) by subsequent tax liabilities.
3 hrs
Thanks for the vote of confidence! "Cancelled out" probably reflects the meaning more closely as it's basically an offsetting process. I would suggest "input tax" for "Vorsteuer" (UK/European VAT jargon!)
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4 KudoZ points awarded for this answer. Comment: "I think cancelled out fits best here. Thanks very much to everyone for all the help and suggestions"
18 mins
German term (edited): r�ckg�ngig machen

revoke(d)

würde ich sagen
Something went wrong...
+2
1 hr

reverse

Like you reverse a decision, i.e. the nachfolgende Besteuerung invalidates (cancels out, renders moot) the Vorsteuerbeträge), a reversal of procedure takes place
Peer comment(s):

agree RobinB : Definitely. The input tax is reversed due to the subsequent taxation of what's known in VAT-speak as "self-supply". Taxes are reversed, and the same applies to (in this case) tax relief.
3 hrs
agree Adrian MM. (X)
4 hrs
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