2015-08-12
619
Exercise 2.1 Study the vocabulary:
| 1) taxation | 1) оподаткування |
| 2) to levy taxes | 2) стягувати податки |
| 3) to direct tax | 3) прямий податок |
| 4) income tax | 4) податок з прибутку |
| 5) capital gains tax | 5) податок на приріст капіталу |
| 6) to impose tax | 6) обкладати податком |
| 7) capital transfer tax | 7) податок на спадок |
| 8) death duty | 8) податок на спадок |
| 9) inheritance tax | 9) податок на спадок |
| 10) estate tax | 10) податок на спадок |
| 11) corporation tax | 11) податок на корпорації |
| 12) national insurance | 12) державне страхування |
| 13) social security | 13) соціальне страхування |
| 14) indirect tax | 14) непрямий податок |
| 15) value-added tax | 15) податок на додану вартість |
| 16) goods and services tax | 16) податок на товари та послуги |
| 17) sales tax | 17) податок з продажу |
| 18) excise tax (duty) | 18) акцизний збір |
| 19) perks | 19) пільги |
| 20) tax haven | 20) укриття від податків (держава з низькими податками) |
| 21) tax burden | 21) податковий тягар |
| 22) tax avoidance | 22) зменшення (платником) суми податку без порушення закону(шляхом перерахунку) |
| 23) tax evasion | 23) (незаконне) ухиляння від сплати податків |
| 24) loophole | 24) лазівка |
Exercise 2.2 Read and translate the text:
Direct taxes
Governments finance most of their expenditure by taxation. If they spend more than they levy or charge in taxes, they have to borrow money.
Direct taxes are collected by the government from the income of individuals and businesses.
· Individuals pay income tax on their wages or salaries, and most other money they receive.
· Most countries have a capital gains tax on profits made from the sale of assets such as stocks and shares. This is usually imposed or levied at a much lower rate than income tax.
· A capital transfer tax (commonly called death duty in Britain) is usually imposed on inherited money or property. Other names for this tax are inheritance tax or estate tax.
· Companies pay corporation tax on their profits. Business profits are generally taxed twice, because after the company pays tax on its profits, the shareholders pay income tax on any dividends received from these profits.
· Companies and their employees also have to pay taxes (called national insurance in Britain) which the government uses to finance social security spending – unemployment pay, sick pay, etc.
