Vocabulary and Speech Exercises. Reading Comprehension Questions

Reading Comprehension Questions

1. What regime allows imported goods to be left permanently in Russia without any obligation to export?

2. What conditions does the goods released for free circulation stipulate?

3. What does the term “re-import” mean?

4. Should customs duties and taxes be paid when Russian goods are re-imported?

5. What is the period of re-import?

6. What are the requirements for re-imported goods?

7. Which goods are considered to be “in transit”?

8. When is “Customs Warehouse” regime valid?

9. When should customs payments for warehousing of export be returned?

10. Where should goods be sold under the regime of “Duty Free Shopping”?

Explain the meaning of these words and phrases within the text

be left permanently in Russia; without any obligation to export; released for free circulation; economic policy measures and other restrictions; normal conditions of transportation and storage; under customs supervision and control; goods are exempt from duties or taxes; be exported within 3 months of entry; special duty free stores; natural deterioration or waste; customs territory.

Fill in the gaps with active words and word combinations from the box given below

1. "Temporary Import/Export of Goods"

a) "Temporary Import/Export of Goods" is the … valid when goods are used temporarily in Russia without payment of duties or taxes.

b) These … should be returned to their origin in unchanged condition, except for natural deterioration or losses under normal conditions of transportation and storage.

c) Temporary import/export is allowed only with confirmation of re-import/re-export and … of customs duties.

d) The government offers some … from customs duties and taxes on temporarily imported/exported goods.

e) Partial exemption provides a monthly payment of 3% of the … of the normal custom fees.

2. "Processing of Goods Outside Russia"

a) "Processing of Goods Outside Russia" is the customs regime valid when Russian goods are exported, processed outside Russia and then released for free … in Russia with complete or partial exemption from import customs duties and taxes.

b) Customs duties and taxes paid for goods exported for … and re-imported into Russia are returned.

c) Exemptions must be approved by the State Customs Committee and … of Finance.

3. "Goods Export"

a) "Goods Export" is the customs regime valid when goods are exported for sale….

b) For many exported goods, export … must be paid.

processing; abroad; payments; goods; exemptions; amount; circulation; Ministry; customs regime; duties

Match the customs regimes and their descriptions

1. "Goods Re-export"	A) customs regime valid when a legal entity donates goods to the state without paying customs duties or taxes. Goods donation to the State must be approved by the SCC.
2. "Goods Liquidation"	B) According to the RF resolution # 883 dated 23 July 1996 “Concession on payment of import customs duty and value added tax (VAT) for goods importing by foreign investors as contribution to authorized capital stock of the enterprise with foreign investments”, goods imported as a foreign contribution to authorized capital stock are free from customs duties if goods: a) are not subject to excise tax; b) could be considered fixed assets; c) are imported soon after filing of documentation to form an enterprise.
3. "Donation of Goods to the State"	C) enterprises fully owned by foreign investors and joint ventures with over 30% foreign investment may import goods for their own use without an import license. Foreign owned forms that have invested at least USD 100 million in Russia may receive a 50% reduction on import of goods into Russia. Cumulative exemptions may apply to 50% of the amount the firm invested in Russia.
4." Duty Free Customs Zone" and "Duty Free Warehouse"	D) customs regime valid when foreign goods are liquidated under customs control free of custom duties and taxes. Goods liquidation must be approved by the SCC.
5. Goods exported for representative offices.	E) customs regime valid when foreign goods are exported from Russia without paying import duties or taxes. Goods re-export must be approved by the Customs agency of Russia and usually other authorities. If imported goods are declared solely for re-export, import customs duties and taxes are not charged. When goods are re-exported, import customs duties paid when goods were taken into Russia are refunded if: a) re-exported goods are in the same physical condition as at import, except for changes due to natural deterioration or losses under normal conditions of transportation and storage; b) goods re-export is conducted within 2 years of import; c) re-exported goods were not used to make profit.
6. According to RSFSR Law “On foreign investments in RSFSR” #1545-1 dated 4 July 1991 and RF Government Resolution # 757 dated 30 June 1994 “On order of production determination, imported by enterprises with foreign investments for own needs””	F) According to RF Law #25-FE dated 5 Feb 1997 "On changes and amendments to the RF Law On customs tariff," customs duty need not be paid on equipment or materials purchased through loans issued by foreign governments and international financial organizations in accordance with International agreements of RF. A recent government decree directed that foreign financed equipment held by customs and covered by contracts signed before March 15, 1995 should be released with users given up to five years to pay duties.
7. Equipment imported under international agreement.	G) customs regimes valid when foreign goods are stored and used in a zone or warehouse without payment of customs duties or taxes.

Give corresponding English equivalents to the following terms:

Помещение товаров под таможенный режим; запреты и ограничения; условия выпуска товаров; требования законодательства Российской Федерации; освобождение от уплаты таможенных пошлин, налогов; находящиеся в свободном обращении; транзитные товары; складирование; переработка на таможенной территории; уничтожение.

Give corresponding Russian equivalents to the following regimes:

1. release for free circulation;

2. re-import;

3. transit;

4. customs warehouse;

5. shop of duty-free trade;

6. processing in the customs territory;

7. processing under customs control;

8. temporary importation (exportation);

9. free customs zone;

10. free warehouse;

11. processing outside the customs territory;

12. export;

13. re-export;

14. destruction;

15. renunciation in favor of the state

Дата добавления: 2014-12-29