Vocabulary. . Which terms do the following sentences define? The definitions are mixed. Match the word phrases with the proper definitions. tax haven - legislation that provides rules of tax charges and tax

1.	excise duty	акцизный сбор
	dissuade (v)	отговаривать, разубеждать
	permit (v)	позволять, разрешать
	various (v)	различный
	accelerated depreciation accounting	учет ускоренной амортизации
	deduct (v)	удержать
	consequently (adv.)	следовательно
	reduce (v)	уменьшить
	tax bills	сумма выплачиваемых налогов
	marginal rate	предельная ставка
	additional (adj)	добавочный, дополнительный
	disincentive (n)	препятствие, сдерживающее средство
	substantial (adj)	существенный
	account for (n)	давать, объяснять, отчитываться
	moonlighting (n) tax liability	работа по совместительству задолженность по налоговым платежам
	perquisite (n)	приработок
	loophole (n)	лазейка
	postpone (n)	отсрочить
	tax shelter	налоговая защита
	donation (n)	денежные пожертвования
	subtract (v)	вычитать
	deductible tax	списываемые налоги
	a tax loss	убыток, учитываемый при налогообложении
	tax haven	укрытие от налогов, налоговая гавань
	transaction	финансовая операция
	disguise (v)	скрывать, маскировать
	laundering money	«отмывание денег»
	tax exemption	освобождение от налога
	tax avoidance	(законное) уклонение от налогов
	tax evasion	уклонение от уплаты налогов (незаконное)
	tax return	налоговая декларация
	capital transfer tax	налог на передачу капитала
	capital gains tax (CYT)	налог на реализованный прирост рыночной стоимости капитала

Exercise3

The definitions are mixed. Match the word phrases with the proper definitions.

tax haven	- legislation that provides rules of tax charges and tax payments
tax rate	- a statement which each taxpayer must make once a year showing his/her income during the past year
tax exemption	- freedom from payment of taxes allowed by law
tax burden	- money paid as taxes
tax revenue	- a person authorized to collect taxes
tax base	- a charge or payment of taxes fixed according to a standard scale
tax holiday	- collection of laws, rules and regulations relating to taxation
tax avoidance	- illegal ways of paying less or no taxes
tax year	- amount of income, capital gain, goods on which one must pay taxes; taxable income, taxable goods, property etc.
tax law	- the income received by the state from taxation
tax return	- the period of a year which the government uses to calculate how much tax a person or business must pay
tax evasion	- a stated period in a year when a new business is allowed not to pay taxes (in some countries)
tax payment	- a country where the tax rates are so low that some companies prefer to have part of the business located there. So they pay less taxes
tax collector	- responsibility to pay taxes
tax code	- legal ways of paying less taxes

 

Exercise 4

Which terms do the following sentences define?

1. The tax people pay on their wages and salaries is called

a. capital transfer tax b. income tax c. wealth tax

2. A tax on wages and salaries or on company profits is a

a. direct tax b. indirect tax c. value-added tax

3. A tax levied at a higher rate on higher incomes is called a

a. progressive tax b. regressive tax c. wealth tax

4. A tax paid on property, sales transactions, imports, and so on is a/an

a. direct tax b. indirect tax c. value-added tax

5. A tax collected at each stage of production, excluding the already-taxed costs from previous

stages, is called a/an

a. added-value tax b. sales tax c. value-added tax

6. Profits made by selling assets are generally liable to a

a. capital gains tax b. capital transfer tax c. wealth tax

7. Gifts and inheritances over a certain value are often liable to a

a. capital gains tax b. capital transfer tax c. wealth tax

8. The annual tax imposed on people's fortunes (in some countries) is a/an

a. added-value tax b. capital gains tax c. wealth tax

 

9. Reducing the amount of tax you pay to a legal minimum is called

a. creative accounting b. tax avoidance c. tax evasion

10. The tax on wages and salaries (and business profits in the US) is called … ……. In Britain the tax on business profits is called corporation tax.

a. direct tax b. income tax с. wealth tax

11. A taxthat is levied at a higher rate on higher incomes is called a……tax.

a. progressive. b. regressive с. value-added

12. Property taxes, sales taxes, customs duties on imports, and excise duties on tobacco, alcoholic drinks, petrol, etc. are……. taxes.

a. direct b. indirect с. value-added

13. Most sales taxes are slightly……… because poorer people need to spend a larger proportion of their income on consumption than the rich.

a. progressive b. regressive с. repressive

.

14. Reducing the amount of tax you pay to a legal minimum is called ………

a. fiscal policy b. tax avoidance c. tax evasion

15. Making false declarations is called and is obviously illegal.

a. creative accounting b. tax avoidance с. tax evasion

Exercise 5