2020-09-24
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| 1.tax legislation | A.to be in accordance with the regulations |
| 2.dispute resolution | B.to take advantage of technicalities or ambiguity in a text of law |
| 3.to comply with | C.a tax specialist who has passed a professional body’s examination |
| 4.chartered tax adviser | D.tax-related factors |
| 5.to exploit loopholes | E.reclaiming overpaid taxes; tax refund |
| 6.tax recovery | F.a service in which a tax or legal professional stands in on behalf of a taxpayer during a tax audit |
| 7.redundancy | G.tax laws collectively |
| 8.taxation exposure | H.a situation in which someone loses their job because their employer does not need them |
| 9.tax considerations | I.the process of resolving a legal case between two parties |
| 10.audit defence | J.the extent to which an entity is impacted by taxation |
SPEAKING FOCUS
1. In your country, what educational requirements must a tax consultant meet?
2. In your opinion, which is the more important aspect of a tax consultant’s expertise: a legal or financial proficiency?
3. Describe the outcome of an important merger or acquisition that took place in your country. Were they successful or not?
4. Work with a partner. You are a tax consultant engaged by a large company to create a completely new tax strategy. Ask questions to find out about the issues in which you might be able to help. Present some preliminary ideas on how you might help.
VOCABULARY FOCUS
accounting practice бухгалтерская фирма; учетная политика
accrued on начисленный за
acquisition сделка поглощения; приобретение
adjustment корректировка, регулирование
ad hoc на данный случай; специальный, особый
amalgamation слияние (учреждений, организаций); объединение
capture (v) захватывать, собирать информацию
certified tax consultant дипломированный налоговый консультант
chartered tax adviser лицензированный, сертифицированный консультант по налогам
conducive благоприятный, способствующий
compliance согласие, соответствие, выполнение
corporate profits tax налог на прибыль организации
corporate reconstruction преобразование организации
court rulings решение суда, постановление
demerge (v) отделиться от компании, с которой ранее произошло слияние
dispute resolution разрешение спора
distort (v) искажать
diversification разнообразие, расхождение
due diligence комплексная проверка; экспертиза соответствия
economies of scales экономия, обусловленная ростом масштаба производства
eliminate (v) устранять, исключать
emphasize (v) подчеркивать, придавать особое значение
enact (v) вводить в действие (закон)
excise taxes акцизы; косвенные налоги / акцизы, НДС, пошлины
exempt (v) освобождать от налога, предоставлять льготу
exploit loopholes использовать лазейки
GDP валовый внутренний продукт
hamper (v) препятствовать, затруднять
hostile takeover насильственное поглощение компании
income tax подоходный налог
inconsistency непоследовательность, противоречивость
interest expenses затраты на выплату процентов
investment account инвестиционный счет; счет основного капитала
meaningful значительный, важный, содержательный
merchandise товары
merger слияние
offset компенсация, возмещение
prescribed limit установленный предел
quoted securities котируемые ценные бумаги
ratio отношение, пропорция
real estate transactions сделки с недвижимостью
redundancy увольнение по сокращению штатов
revenue source источник доходов
streamline (v) упрощать, рационализировать
spell out (v) разъяснять, растолковывать
substantive provision основное положение; материальное положение
tariff rate тарифная ставка
tariff schedule перечень тарифов
target company приобретаемая компания
tax arrears задолженность по уплате налогов
tax burden налоговое бремя
tax-collection system система взимания налога
tax evasion уклонение от уплаты налогов
tax exemptions налоговые льготы
tax legislation налоговое законодательство
tax recovery компенсация налогов
tax revenue налоговые поступления
total revenue совокупный доход
undergo (v) подвергаться
undermine (v) подрывать
uneven неровный, неравномерный
value-added tax налог на добавленную стоимость
PART 3
Read the article and answer these questions.
1. Why is passion regarded as an important quality of successful entrepreneurs?
2. Are all risk takers successful entrepreneurs? Why?
3. What does the statement «flexible entrepreneur» stand for?
4. How is strong money management related to a successful entrepreneurial venture?
5. What effective planning skills of a good businessman can you name?
Characteristics of Successful Entrepreneurs
Do you have what it takes to be an entrepreneur? Here are 8 characteristics that set successful entrepreneurs apart:
Passion and Motivation
Although there are many traits that make an entrepreneur successful, perhaps the most important are passion and motivation.
From building and implementing a prototype to pitching your idea to venture capitalists, success is a function of passion and determination.
Not Afraid to Take Risks
Entrepreneurs are risk takers, ready to dive deep into a future of uncertainty. But not all risk takers are successful entrepreneurs. What differentiates a successful entrepreneur from the rest in terms of risk? Successful entrepreneurs are willing to risk their time and money on unknowns, but they also keep resources, plans and bandwidth for dealing with "unknown unknowns" in reserve. When evaluating risk, a successful entrepreneur will ask herself, "Is this risk worth the cost of my career, time and money?" And, "What will I do if this venture doesn't pay off?"
Self-belief, Hard Work and Disciplined Dedication
Entrepreneurs believe in themselves and are confident and dedicated to their project.
