GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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18:06 May 9, 2020 |
Spanish to English translations [PRO] Bus/Financial - Law: Taxation & Customs / Law | |||||||
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| Selected response from: Michael Grabczan-Grabowski Canada Local time: 14:00 | ||||||
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Summary of answers provided | ||||
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3 +2 | temporary importation for inward processing |
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4 | temporary importation for processing |
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4 | temporary admission |
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Summary of reference entries provided | |||
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Comments/Ref. |
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temporary importation for processing Explanation: RESTRICTED October 1956 TEMPORARY IMPORTATION OF ...docs.wto.org › gattdocs › SPEC Temporary importation for processing. Under the British system ... prohibiting the warehousing of many agricultural products in the free zone, and authorizing no ... |
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temporary importation for inward processing Explanation: This law refers to the practice of allowing goods to be imported into a country, without subjecting them to duties, taxes and formalities, if the purpose of importing such goods is to process them within the country and then re-export them. Firstly, the part admisión temporal refers to the temporary importation arrangements made for goods that are to be processed within the country and then re-exported. The importation is temporary, otherwise, these goods do become subject to the relevant duties and formalities if they remain in the country. Now for the perfeccionamiento activo part: In the EU, this term is referred to as "inward processing" in the following link: Spanish: https://trade.ec.europa.eu/tradehelp/es/procedimientos-de-im... English: https://trade.ec.europa.eu/tradehelp/eu-import-procedures The quotes are as follows: Spanish "Perfeccionamiento activo: las mercancías se importan en la Unión para ser utilizadas en su territorio aduanero en una o más operaciones de transformación, sin estar sujetas a derechos de importación, gravámenes ni medidas de política comercial. Las autoridades aduaneras fijan el plazo en el cual se llevará a cabo el procedimiento de perfeccionamiento activo. En caso de que los productos acabados no se exporten finalmente, estos estarán sujetos a los derechos y medidas correspondientes." English "Inward processing: Goods can be imported into the EU, without being subject to duties, taxes and formalities, to be processed under customs control and then re-exported. If the finished products are ultimately not exported, they become subject to the applicable duties and formalities. This term is consistently translated as "inward processing" in EU Council texts, and these links provide more confirmation of the term: https://ec.europa.eu/taxation_customs/business/customs-proce... https://www.gov.uk/guidance/inward-processing https://www.revenue.ie/en/customs-traders-and-agents/process... https://www.belastingdienst.nl/wps/wcm/connect/bldcontenten/... Therefore, I think an appropriate translation for the full name of the act would be: Nicaraguan Temporary Importation for Inward Processing and Export Facilitation Act (my attempt) or Nicaraguan Law on Temporary Admission for Inward Processing and Export Facilitation -- As used in the book "Nicaragua: Doing Business, Investing in Nicaragua Guide Volume 1 Strategic ..." -- https://bit.ly/2WMLj74 |
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