07:04 Feb 4, 2017 |
German to English translations [PRO] Bus/Financial - Accounting / Balance sheet / tax related | |||||||
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| Selected response from: Sarah Bessioud Germany Local time: 10:53 | ||||||
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4 +1 | valuation allowance |
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valuation allowance Explanation: Assuming that this is a Swiss text, "Warendrittel" is a deduction that is allowed to be made on the value of inventory, up to a third of the cost of acquisition. Further details can be found here: http://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/Swit... As the Swiss code of obligations, hence the Swiss accounting rules, favour the prudence principle, a valuation allowance is allowed to be recorded on the inventory in excess of the actual devaluation of the inventory due to a lower market value (see Obsolete inventory provision in the Deductions section). Such valuation allowance is accepted for tax purposes at up to a maximum of one-third of the inventory’s acquisition costs or its productions costs, respectively its lower market value. Reference: http://https://www.steuern.sg.ch/home/sachthemen/your/vortei... |
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