French Word of the Day: Redressement
redressement?
Because
this word may come up when discussing French taxes.
What does it mean?
Redressement
- roughly pronounced ruh-dress-uh-mehn - is a masculine noun coming from the verb
redresser
, meaning to rectify.
While the English term 'redress' has the same meaning as its French counterpart, the noun
redressement
has a slightly different meaning, as it refers to procedures related to recovering money or taxes that are owed.
A simple
redressement
(or
redressement fiscal
) refers to a tax reassessment, or a correction issued by French fiscal authorities, which leads to an individual owing extra taxes. Officially, this is called a
proposition de rectification.
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You might experience this if you accidentally omitted information in your tax declaration, and tax authorities discovered this following a
contrôle fiscal
.
Meanwhile, a
redressement judiciaire
is a procedure initiated when a company is in financial difficulty and can no longer pay its debts. It is often translated as 'receivership' in English.
Basically, this procedure allows the company that has ceased its payments to continue operating.
For example, you might see a headline about a company that has
demandé son placement en redressement judiciaire
(requested to be placed under receivership).
Use it like this
La chaîne de bijouterie réputée a été placée en redressement judiciaire. -
The well-known jewellery chain has been placed in receivership.
Le riche investisseur a été visé par un redressement fiscal. Il devra probablement payer plusieurs milliers d'euros. -
The wealthy investor was hit by a tax reassessment. He will probably how several thousand euros.
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