Glossary entry

Spanish term or phrase:

Impuesto del Patrimonio

English translation:

wealth tax

Added to glossary by Chris Neill
Jan 25, 2015 16:07
9 yrs ago
22 viewers *
Spanish term

Impuesto del Patrimonio

Spanish to English Bus/Financial Finance (general)
El impuesto sobre el patrimonio, a veces también llamado impuesto sobre la riqueza o impuesto sobre la fortuna, es un impuesto que se aplica individualmente, no sobre ingresos anuales o transacciones, sino sobre el patrimonio personal de las personas físicas, y se calcula basándose en el valor de todos los bienes del sujeto pasivo.

At a bit of a loss on how to translate this term. Things that spring to mind are "robin hood tax" or "heritage tax" but I'm unsure.

Thanks for your help

Discussion

Phoenix III Jan 25, 2015:
@ Asker What country is this for?
Carlos Alonso Jan 25, 2015:
It is not a tax on capital gains resulting from purchases and sales of assets; it is a tax imposted on the net worth or wealth.
AllegroTrans Jan 25, 2015:
Can we assume that your text relates to Spain? This is important

Proposed translations

+6
3 mins
Selected

wealth tax

Note from asker:
Thank you Edward
Peer comment(s):

agree Charles Davis
49 mins
Many thanks Charles! ;-)
agree AllegroTrans
50 mins
Many thanks! ;-)
agree Neeraj Nagarkatti : I immediately thought of "wealth tax" when I saw the post. If you're talking about the tax introduced in Spain, then "wealth tax" is appropriate. That's according to the Boletín Oficial del Estado.
1 hr
Many thanks Neeraj! ;-)
agree neilmac
15 hrs
Many thanks Neil! ;-)
agree Billh
19 hrs
Many thanks! ;-)
agree Aurie Escobar Ramsey : Agreed!
2 days 6 hrs
Many thanks! ;-)
Something went wrong...
4 KudoZ points awarded for this answer.
3 mins

wealth tax / equity tax

Here's a source that might help.

http://en.wikipedia.org/wiki/Wealth_tax
Note from asker:
Thank you Jack
Something went wrong...
-2
26 mins

Capital Gains Tax

...the euphemism used in the US for this kind of theft.
Peer comment(s):

neutral jack_speak : Capital gains tax is a tax on investment earnings, not net wealth.
6 mins
Technically true, but it is applied to real property, which has already been taxed many times in other ways, so it is double taxation. But your point is valid. Mine may not be the best solution here.
disagree AllegroTrans : Not a "euphemism" but an official tax with a specific name (at least on this side of the Pond) but it's not the right answer here
28 mins
disagree Aurie Escobar Ramsey : In my experience, this is used more to determine how much income has been generated from the ownership of certain assets, not the overall assessment of their value.
2 days 6 hrs
Something went wrong...
+2
55 mins

Net Worth Tax

---A wealth tax (also called a capital tax, equity tax, or net worth tax) is a levy on the total value of personal assets...
Peer comment(s):

agree Giovanni Rengifo : This is a valid option too. There's no need to capitalize it, though.
13 mins
True. Thank you!
agree Phoenix III
3 hrs
TXS!!!
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3 hrs

Assets Tax

Another version.
Something went wrong...
-3
3 hrs

inheritance tax

depending on the context, this suggestion is worthwhile exploring...best, msl

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Note added at 3 hrs (2015-01-25 19:36:04 GMT)
--------------------------------------------------

on second thought, "wealth tax" seems to fit well here <3


Peer comment(s):

neutral Sergio Kot : That would be "estate tax", at least in the US.
8 mins
jolly good..thank you!
disagree AllegroTrans : the concept of inheritance tax isn't even implied in the source text
1 hr
disagree Billh : nothing to do with this
16 hrs
disagree Aurie Escobar Ramsey : Nothing to do with inheritance vs. current assets
2 days 3 hrs
Something went wrong...
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