Task 7 Read the text and complete the gaps with the words from the box. Look up the definitions of the words you do not know.
| to be compatible with; social security contributions; to levy taxes; unanimity; tax measures; to standardize; customs duties; compulsory taxes |
Diversity of Tax Systems
Tax policy is a symbol of national sovereignty and part of a country's overall economic policy, helping finance public spending and redistribute income. In the European Union, responsibility for tax policy mainly lies with the Member States, who may delegate some of it from central to regional or local level, depending on the constitutional or administrative structure of government.
The European Union plays a subsidiary role on taxes and (1) …. Its aim is not to (2)… the national systems of (3)… and contributions but simply to ensure that they are (4) …not only with each other but also with the aims of the Treaty establishing the European Community. Article 269 of the EC Treaty requires the Community budget to be wholly financed from own resources. These depend on Member States' capacity to contribute. At present these own resources consist of agricultural levies, (5)…, a percentage of VAT revenue calculated on a harmonized basis and GNP-based resources. The European Union has no power to create or (6) …
However, in the single market it is important to see that Member States' (7) ... do not hamper the free movement of goods, services and capital or distort competition. Progress on the harmonization and coordination of taxation has been fairly slow, but this is due to the complexity of the issues involved and the fact that the relevant articles of the EC Treaty require (8)…for any change.
Task 8Choose the correct words to complete each sentence:
1. The tax levied on business profits in the US and known as corporation tax in Britain
a. wealth tax b. income tax с . direct tax
2. The higher the income is the more tax is levied
а. regressive b. progressive с . value-added
3. Taxes on property and sales, as well as customs and excise
duties
a. value-added b. indirect с . direct
4. As poor people spend a larger proportion of their income on consumption taxes on sales are….
a. progressive b. regressive с . repressive
5. This tax is levied at each stage of production
a. sales tax b. value-added tax с . added-value tax
6. When selling assets we are liable to pay … tax
a. capital gains b. capital transfer c. wealth
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7. Tax on gifts and inheritances
a. capital gains ........................................ b. capital transfer с . wealth
8. Trying to pay a legal minimum of tax is called …
a. fiscal policy b. tax avoidance c. tax evasion
9. Paying little tax basing your financial assumptions on false declarations is ….
a. creative accounting b. tax avoidance c. tax evasion
10. Bringing forward capital expenditure so that at the end of the year all the profits have been used up.
a. mistake b. tax haven с . tax loss
11. Low-tax countries
a. tax haven........................ b. tax heavens с c. tax shelters
12. complicated transactions made to disguise illegal origins of money
a. cleaning b. laundering c. washing
Task 9 Translate the following phrases into English.
1. утверждать очевидное
2. мало кому известен тот факт
3. лишило правительство власти налогообложения
4. предоставило власть
5. свергнуть новое правительство
6. получить доход
7. вызвало множество противоречий
8. водораздел
9. самовольное обложение налогом
10. право собственности
11. не имело неотъемлемого права
12. нести налоговое бремя
13. «прогрессивная» концепция налогообложения
14. делятся на широкие категории
15. подоходный налог
16. акцизы
17. налог с продаж
18. не поддается обсуждению
19. имели беспрецедентный успех
20. вызвали особое рвение
21. Министерство по налогам и сборам
22. провести публичные слушания
23. отчисления в фонд социального страхования
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24. подушный налог
25. имущественный налог
GRAMMAR
Grammar notes: Revision of Conditionals
Study the table to revise the use of the Conditional Mood (unreal)
Second Conditional
| Use | Example | ||
| Impossible, unlikely or hypothetical conditions in the present or future | If anybody said such a thing to me I would feel hurt | ||
| Advice | If I were you, I would contact him immediately. | ||
| Third Conditional | |||
| Hypothetical conditions in the past | You were not attentive. If you had not been so nervous, you would have spoken much better and wouldn’t have made so many mistakes. | ||
| Mixed Conditionals | |||
| Hypothetical past condition and a present result | If I had returned to the hustle and bustle of my city life then, my annoyance would be over now. | ||
| Hypothetical present condition and a past result | If a had a mobile, I would have called you last night | ||
| Inverted Conditionals
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