C) Say if you have ever reclaimed your VAT

B) Write down 3-5 questions about the texts.

Ex. 8. a) Supply the articles where necessary.

F) Write out from the main text international words like: contribution, authority, service, etc. Transcribe them and read aloud.

D) Make your own sentences with any five word combinations from (b) and (c).

Ex. 7. Work on vocabulary and grammar.

a) Study the key words of the unit in the dictionary at the back of the book:

tax, taxation, tax allowance, tax breaks, tax concessions, tax benefits, tax exemptions;

b) Think of the verbs that are commonly used with:

tax, taxation, profits, revenue, complaint, claim, effects, non-compliance, tax rate, burden of taxation, privilege, income, exemptions;

c) Think of the nouns that are most often used with:

to levy, to collect, to tax, to impose, to introduce, to pay, to reduce, to avoid, to evade, to exempt;

e) Match the verbs from (a) with nouns from (b) below:

a) to reduce b) economic welfare

to improve taxes

to correct inequality

to increase revenue

to check imports

to withhold business

to tax adverse balance of payments

a) If you thought duty-free was... only way to buy cut price goods in... Europe, you'd be wrong. Tax-free shopping offers... even greater number of discounts to visitors from outside... EU and includes more than just... perfume,... alcohol and... cigarettes.

The main difference between... duty-free and... tax-free shopping is that duty-free is available to everyone travelling within... EU. Tax-free shopping, however, is... perk only available to... non-EU members flying into European countries, which adds up to around 100 million tourists each year. The Value-Added Tax normally included in... price of goods is refunded when leaving... EU.

Most goods are sold with VAT included in... selling price. This ranges from... 7 per cent for some goods in Germany to 25 per cent in Sweden and Denmark. In... UK, VAT stands at 17.5 per cent. However, visitors only get... saving of 14.8 per cent on... purchase price as there is... added fee for... handling of the refund.

Tax-free shopping has become... big business with tourists from non-EU countries spending huge sums every year. It's a simple system which means you receive... cash-in-hand refund when you leave... country. There is often a minimum sale of between $ 30 and $100 to qualify for... refund.

After purchasing any goods ask for... Tax-free Shopping Voucher which you need to reclaim your VAT. When you leave the EU... vouchers must be stamped at... customs and all your purchases shown to them. The vouchers can then be cashed at... Refund Points.

Based on: European Businessman

Words you may need:

discount n скидка

perk n преимущество

refund v возмещать, возвращать

handling of the refund оформление возврата (налога)

cash-in-hand наличность

to qualify for refund получить право на получение возмещения

reclaim v требовать обратно

voucher n квитанция, ваучер

d) Say what you have learned about the system of tax administration in the UK.

b) The British Government's programme of tax reform has sought to maintain... climate in which business can thrive and individual initiative is rewarded. Its major aims are... following: to keep... tax burden as low as possible through firm control over public expenditure, to maintain... broad tax base, which helps to keep tax rates low, and to shift the balance of taxation from taxes on income to taxes on expenditure. Steps have also been taken to close tax loopholes. The government is committed to simplifying... administration of... tax system, both for individuals and for companies. The government admits that there are four general principles for... efficient administration of a tax system:... clarity, continuity, cost-effectiveness and convenience.

At present, the Inland Revenue assesses and collects... taxes on income, profits and capital, and stamp duty.

Taxes on individual incomes are generally progressive in that larger incomes bear... greater amount of tax.

In general, income tax is charged on all income which originates in... Britain and on all income arising abroad of people resident in Britain. Some forms of income, however, are exempt.

Britain has entered into... agreements with many countries to provide relief from double taxation. Most wage and salary earners pay their income tax under a Pay-As-You-Earn (PAYE) system whereby tax is deducted and accounted for to the Inland Revenue by the employer.

The rates of company tax in Britain are lower than in... most other industrialized countries. A company which distributes profits to its shareholders is required to pay advance corporation tax (ACT) on these distributions to... Inland Revenue.

Words you may need:

reward v вознаграждать

tax base налоговая база

loophole n лазейка

stamp duty гербовый сбор

charge v взимать

advance corporation tax авансовый корпорационный налог

Дата добавления: 2014-11-29