- •Министерство Финансов Российской Федерации
- •Утверждено и рекомендовано решением
- •(Протокол № )
- •Предисловие.
- •Unit 1. What are taxes?
- •What are taxes?
- •Vocabulary
- •Grammar Revision
- •Unit 2. Progressive and regressive taxes
- •Progressive and regressive taxes
- •Vocabulary
- •In the text find the English equivlents to the following Russian collocations.
- •Unit 3. A history of taxation.
- •A history of taxation.
- •Vocabulary
- •In the text find the answers to the following questions.
- •In the text find the English equivalents to the following Russian collocations.
- •Unit 4. The tax history of great britain.
- •The tax history of great britain.
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 5. The history of the tax system in the united states
- •The history of the tax system in the united states
- •Colonial Times
- •The Post Revolutionary Era
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 6. The history of the tax system in the united states
- •The history of the tax system in the united states
- •World War I and 1920’s
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 7. The history of the tax system in the united states
- •The history of the tax system in the united states
- •The social security tax
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 8. Income tax
- •Income tax
- •Unit 9. Personal taxation in the uk
- •Personal taxation in the uk
- •Vocabulary
- •Chart 1. Personal taxation
- •Unit 10. The flat tax
- •The flat tax
- •Vocabulary
- •Unit 11. Corporate tax in great britain
- •Corporate tax in great britain
- •Unit 12. Corporate income tax Corporate taxation in the usa
- •Corporate income tax
- •Corporate tax rates
- •Defining income
- •Vocabulary
- •Chart 1. Marginal and average corporate tax rates, 1983
- •Verb Noun Adjective
- •Unit 13. (corporation) profit tax in russia
- •(Corporation) profit tax in russia
- •Unit 14. The vat
- •The vat
- •Vocabulary
- •Unit 15. The vat in russia the vat in russia
- •Vocabulary
- •The vat-Invoice
- •Unit 16. The excise
- •The excise
- •For similar items, excise duties are the same for imported and domestically produced goods; if the tax is different, then there is an explicit or implicit customs duty.
- •Vocabulary
- •Exercise 2. Answer the questions
- •Exercise 3. Guess the meaning of the word by its definition
- •Exercise 4. Render the text
- •Exercise 6 Translate from Russian into English
- •Unit 17. Taxation in canada
- •Practise reading the following words and collocation:
- •Taxation in canada
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 18. Taxation in the united kingdom
- •Taxation in the united kingdom
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 19. Taxation in germany
- •Taxation in germany
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Unit 20. Taxation in the republic of ireland Exercise 1 Practise reading the following words and collocation:
- •Taxation in the republic of ireland
- •Vocabulary
- •Exercise 2
- •Exercise 3
- •Exercise 4
- •Exercise 5
- •Unit 21. Taxaion in the usa
- •Taxaion in the usa
- •Vocabulary
- •Unit 22. How to avoid axation in the usa how to avoid axation in the usa
- •Vocabulary
- •Exercise 6. Discussion
- •Unit 23. The tax code of the russian federaton
- •Retrospectively, provision, procedure, authority, levy, circumstance, liability, audit, offence, administrative compliance, specify, authority, introduction .
- •Tax Code part II
- •Vocabulary
- •Exercise 7 Explain the following. Consult the text and vocabulary
- •Hierarchy of Norms
- •Vocabulary
- •The History of Taxation in Russia
- •Unit 24. The tax authorities of the rusian federation
- •Unit 25. Genral princiaples of taxation
- •Genral princiaples of taxation.
- •4.1 Efficiency or rationality.
- •4.2 Sufficiency.
- •4.3 Flexibility.
- •4.4 Neutrality.
- •Vocabulary
- •Оглавление
- •Пособие по английскому языку
Unit 14. The vat
Exercise 1
Practise reading the following aloud
a) consumption, virtually, commodity, provision, distribution, specified, neutral, transactions, indirectly, enforcement,
b) value added, commercial activities, invoices issued, appropriate amount, ultimate consumer, actual tax burden, via a system,
c) to resemble, to be designed, to be charged as a percentage, to be visible, to be collected fractionally, mechanism ensures, to be created.
The vat
The VAT is a general consumption tax used in virtually every major country except the U.S. In some countries, including Singapore, Australia, New Zealand and Canada, this tax is known as “goods and services tax” or GST.
The VAT is assessed on goods and services, applied at each stage of the production of a commodity, and charged only on the value added at that stage. It is a general tax because the tax applies to all commercial activities that involve the production and distribution of goods and the provision of services, and a consumption tax because the burden ultimately falls on the final consumer. It is not a charge on companies.
Although VAT is theoretically a tax on “value added”, in practice it resembles a sales tax in that each trader adds the tax to sale invoices issued and accounts for the appropriate tax authority department. However, the trader is permitted to deduct the amount of tax paid on invoices received for goods and services (but not for wages and salaries). Thus VAT is a form of “indirect taxation”, its burden being borne not by traders but by the ultimate consumers of their goods and services. The system is designed to avoid the cascade in which tax is paid on tax, as goods and services pass through long chains of activity.
VAT is often said to be an example of a proportional tax, since the amount of tax paid is proportional to the size of the tax base, i.e. VAT is a tax with a single rate. It is charged as a percentage of price, which means that the actual tax burden is visible at each stage in the production and distribution chain. Thus being calculated as a specified percentage of the total invoice value of goods rather than the number of items, VAT is an example of an ad valorem tax (Latin: according to value).
VAT is collected fractionally, via a system of deductions whereby taxable persons ( i.e., VAT-registered businesses) can deduct from their VAT liability the amount of tax they have paid to other taxable persons on purchases for their business activities. This mechanism ensures that the tax is neutral regardless of how many transactions are involved.
Personal end-consumers of products and services cannot recover VAT on purchases, but businesses are able to recover VAT on the materials and services that they buy to make further suppliers or services directly or indirectly sold to end-users. In this way, the total tax levied at each stage in the economic chain of supply is a constant fraction of the value-added by a business to its products.
The VAT was created by Maurice Laure, joint director of the French tax authority, in the 1950s. The VAT was invented because very high sales taxes and tariffs encourage cheating and smuggling. For example, a 30% sales tax was so often cheated that most of the retail economy would go off the books. This is not the case with VAT. The entire economy helps in the enforcement by collecting the tax at each production level, and requiring the previous production level to collect the next level tax in order to recover the VAT previously paid by that production level.