Glossary entry

Italian term or phrase:

I versamenti corrispondono al saldo a debito risultante dalla liquidazione perio

English translation:

The payments are equal to the debit balance resulting from settlement of periodic VAT returns

Added to glossary by Brenda Morini
Oct 8, 2015 15:09
8 yrs ago
9 viewers *
Italian term

I versamenti corrispondono al saldo a debito risultante dalla liquidazione perio

Italian to English Bus/Financial Finance (general)
Ciao a tutti,

si tratta del verbale trimestrale di un audit fatto nel mese di luglio e sotto alla tabella relativa alla liquidazione dell'IVA, dove sono riportati gli importi dell'IVA a credito o a debito nei tre mesi presi in esame, compare la frase in oggetto.

Non sono affatto sicura della mia versione:

The payments correspond to the payable balance?? deriving from the periodic settlement.

Ho problemi soprattutto con questo saldo a debito, qualcuno mi può aiutare?

Thanks

Proposed translations

+3
33 mins
Selected

The payments are equal to the debit balance resulting from settlement of periodic VAT returns

While liquidazione normally means transforming something into cash usually by selling it, in Italian VAT jargon it means filling out and filing the form (UNICO) to pay the VAT. As a result the form acts both as a tax return and a payment slip at the same time. For example if you are in credit for VAT, then you must still fill in and file the form showing the credit, otherwise you won't be able to deduct it or claim a refund in the future.
As my accountant recently said, "You have nothing to pay, but you must fill it in and send it in anyway."

What this line says is that (i) the form was filled in., (ii) it resulted in a debit balance and (iii) the payments made were equal to that balance.
Of course they could have said: "the firm paid its VAT", but that is in another culture.

I versamenti corrispondono al saldo a debito risultante dalla liquidazione perio
Note from asker:
Thank you James, your explanation is very clear. You are right, they could have written "the firm paid its Vat", but italians like complicating their lives...
Peer comment(s):

agree philgoddard
14 mins
agree EirTranslations
1 hr
agree Peter Cox
1 day 58 mins
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4 KudoZ points awarded for this answer.
4 mins

debit balance

La mia proposta.
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Note added at 21 mins (2015-10-08 15:31:07 GMT)
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I'm not clear of the difference between "versamento" and "liquidazione".
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