Regional and local taxes
Date: 2015-10-07; view: 439.
Regional and local legislative bodies may, at their…..6…. discretion/discretions ,
introduce various tax …..7…incentives/incentive and credits with regard to regional and local taxes. Regional taxes currently include corporate property
tax, transportation tax, and gambling tax. Local taxes currently
include property tax on individuals and land tax. Although these taxes
are set regionally and locally the federal legislature has enacted limits
on their overall…8…. rates /rate.
Key terms: Types of taxes
Match these types of taxes (1-7) with their definitions ( a- g):
1. excise taxes
2.corporate profits tax
3. personal income tax
4. VAT
5. state duty
6. transportation tax
7. corporate property tax
a) from the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the value added to a product, material, or service, from an accounting point of view, by this stage of its manufacture or distribution
b) tax on the sale, or production for sale, of specific goods or a tax on a particular good produced for sale
c) every business organization, organized for gain or profit carrying on business activity within the state is subject to this tax
d) a tax on individual earnings (income) that is paid to the national government
e) tax that is levied on documents. Historically, this included the majority of legal documents such as checks, receipts, military commissions, marriage licenses and land transactions
f) tax always produces the required revenue for municipalities' tax levies. Values are determined by local officials.
g) tax applied to amounts paid for transportation and used to improve and maintain transport systems.
Suggest English equivalents of the following word partnerships
согласно последним поправкам ; подлежать налогообложению; облагать налогом ; постоянно работающее предприятие , облагаемое налогом ; договор об избежании двойного налогообложения ; по своему усмотрению ; в отношении / что касается ; налоговая декларация ; собирать налоги ; юридические лица ; единообразная ставка налога ; подоходный налог ; налоговые льготы ; ставка налога ; налоговые органы ; применимый ; подвергаться аудиторской проверке .
Suggest Russian equivalents of the following word partnerships
implement in phases , favorable to taxpayers , amendments came into effect , chamber audit , tax rates applicable to , enact various income tax rates , acquisition of a residence , current legislation imposes rate of , reciprocal benefits , repo transactions , derive from , corporate property tax , a tax for a given period , social security contributions , file a tax return , lower tax authority/ lower tax rate
What are the standard names for the tax or taxes paid on the following ?
1. alcoholic drinks and tobacco products
2. company profits
3. goods bought in stores
4. salaries and wages
Complete the sentences below with the appropriate words and word combinations :
tax havens ; VAT ; tax burden , tax avoidance ; income tax ; excise duties ; tax evasion ; corporation tax , taxed , tax
Translate the sentences from English into Russian :
1. Individuals pay…..on their wages or salaries, and most other money they receive.
2. Companies pay ……on their profits. Business profits are generally…taxed twice, because after the company pays…on its profits, the shareholders pay income tax on any dividends received from these profits.
3.In most European countries , companies pay….. , which is levied in each stage of production, based on the value added to the product at the stage. The whole amount is added to the final price paid by the consumer. In Canada , Australia, New Zealand and Singapore, this tax is called Goods and Services Tax or GST.
4. Governments also levy …..- additional sales taxes on commodities like tobacco products, alcoholic drinks and petrols.
5. Multinationals companies often register their head offices in …. – small countries where income taxes for foreign companies are low .
6. Using legal methods to minimize your ….. – the amount of tax you have to pay – is called …
7.Using illegal methods – such as not declaring your income , or reporting it inaccurately – is called….., and can lead to big penalties.
Render the following sentences from Russian into English :
1.Уклонение от уплаты налогов – проблема , с которой сталкиваются многие страны. Недостаточное налоговое законодательство и слабый контроль за его соблюдением дают возможность налогоплательщикам находить лазейки в законе, чтобы не платить налоги.
2. Tерритория государства или её часть, в пределах которой для компаний-нерезидентов действует особый льготный режим регистрации, лицензирования при условии, что их предпринимательская деятельность осуществляется вне пределов этого государства называется «налоговое убежище», или «налоговый рай»
3. Для того чтобы снизить налоговое бремя на товаропроизводителя , необходимо снижать налоговые ставки и увеличивать налоги с физических лиц, а также отменить многие налоговые льготы, которые лишают бюджет значительных налоговых доходов.
4. Договоры об избежании двойного налогообложения призваны не допустить неограниченное налогообложение одного и того же дохода в нескольких государствах. Договоры, как правило, заключаются в целях поощрения экономического сотрудничества между разными странами.
Answer the questions :
1. What are taxes?
2. What taxes are paid to the federal budget ?
3. What bodies collect taxes ?
4 .What is usually taxed ?
5. What is an excise duty ? Why were excise duties introduced ?
6. What is the difference between tax evasion and tax avoidance ?
7 .In what situations can incomes be taxed twice ?
8. What is the attitude towards taxes in Russia ?
9 .What is the attitude of government officials towards tax exemption?
10. Is tax collection in Russia satisfactory at the moment?
Try to find additional information and give extensive answers to these discussion questions:
1. What taxes provide the bulk of budget revenues in Russia ?
2. Is there a need to soften the burden of taxation in the RF ?
3. What measures, in your opinion , can improve tax collection in Russia?
4. What enforcement measures can be taken against defaulting taxpayers ?
5. What's the attitude of government officials towards tax exemption and tax deferment ?
Over to you : Prepare a short talk on the following:
1. How is taxation levied in the UK ? USA ?
2 The tax climate in Russia .What do you know about recent changes in tax legislation ?
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