Complete each of the following statements with the appropriate form of the suitable word

Exercise 2.

Complete the cells with appropriate word forms. The column Attribute includes word forms which define a noun.

Exercise 1.

Conflicts of Interest and Concern Reporting

The Board expects Ford directors, as well as officers and employees, to act ethically at all times and in

accordance with applicable Company codes of ethics. If an actual or potential conflict of interest arises

for a director, the director shall promptly inform the Chairman and the presiding director. If a significant

conflict exists and cannot be resolved, the director should resign. All directors will recuse themselves

from any discussion or decision affecting their personal, business or professional interests. The Board

shall resolve any conflict of interest question involving the Chairman, or a Board member.

PART IV. Taxes’ Certain Aspects

NOTE:

The UK tax administration is now HMRC – Her Majesty Revenue and Customs

HM Revenue & Customs (HMRC) was formed on the 18 April 2005, following the merger of Inland Revenue and HM Customs and Excise Departments

Noun 1	Verb	Noun(s) 2	Attribute
	to tax	taxation
payment			payable
	codify	codification	codified
	exempt	Χ	exempt
	evade	Χ	evasive
avoidance		Χ
	reduce	Χ	reduced; reducible
levy		Χ	Χ
charge		Χ	chargeable
Χ		Χ	withholding
imposition		Χ	Χ
	legislate
execution		Χ
judge			Judicial

1. Raising money for the budget through ………... the governments establish rules for individuals and entities.
2. When you are going …….your taxes first make calculations and see how much you owe, that is the taxes payable.
3. Tax law is the …….. system of laws that describes government levies on economic transactions, commonly called taxes.
4. Some entities like non-profit organizations which are not supposed to have taxable profits are …….. from income tax payment.
5. Those taxpayers who …….. paying taxes commit a crime, and if such …….. schemes are detected, the lawbreakers are subject to fines or imprisonment.
6. A company that intends to minimize a certain tax can work out a tax ………. plan which is a quite lawful method of reallocation of payments.
7. When the amount of tax payment that tax authorities …… on a person’s income is too large, it’s possible to ………. it by making certain deductions.
8. An accountant usually knows what taxes to ……….. from the employees’ salaries and wages.
9. For the residents of the UK income tax is …….. on all their income which originates in Britain and on all income gained abroad.
10. Tax administration can ……… taxes on the gifts a person has obtained, on lottery prizes and awards.
11. Tax code and taxation rules and regulations are enacted by ……… so that the …… branch of power can implement its budgetary function.
12. The U.S. Tax Court, representing the ……… branch of power, is authorized to resolve cases related to tax law violations.

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