III. Find in the text and write out English equivalents for the following Russian word combinations:

Снижать прямые налоги на доходы; облагать высоким налогом; соответствовать местным условиям; отражать приоритеты; снижать общую сумму налога; определить наиболее общие принципы; подлежать налогообложению; общественные проекты на общее благо; быть ограниченным из-за высоких налогов; поощрять накопление.

IV. Pick up antonyms from (b)

1. Complex, rise, apparent, subject to tax, low, contribute, substantially, indirect, increase, desirable, encourage.

2. Collect, real, a little, simple, tax-free, reduce, discourage, high, fall, undesirable, direct.

V. Supply the articles where necessary.

1. … money collected from taxes is … main source of revenue.

2. … money … government requires depends on its political philosophy.

3. Governments on … left tend to help … disadvantaged sections of … society.

4. Governments on … right are minimally involved in … lives of … individuals.

5. At … same time Swedes have one of … highest standards of living in … world.

6. In … most Western countries … tax burden on … individual has fallen in the past decade.

7. … way in which … taxes are collected may have changed.

8. … high level of … tax imposed on … smoking and … drinking may discourage them.

9. … taxes are not popular, but … most people understand that they are necessary.

10. Communal projects for … common good must be paid for.

VI. Choose correct prepositions.

1. It is the main source of / from revenue for the state.

2. Money is raised out of / from the issue of government bonds.

3. The amount of money depends on / from the government’s political philosophy.

4. Parties on / at the right tend to help some sections of society.

5. Right-wing parties are minimally involved in / to the lives of individuals.

6. Swedes have one of the heaviest levels of taxation of / in the world.

VII. Open the brackets putting the verbs in the correct form.

1. Government usually (to make) the rules of taxation to meet local conditions.

2. Taxation (to become) extremely complex for the past few decades.

3. Last year Revenue Department (to raise) big enough amounts of money through National Insurance contributions.

4. A year ago the VAT (to rise) to compensate the direct tax which (to be cut) before.

5. There (to be) some cuts in direct taxes and the tax burden on the individuals (to fall) in the past decade.

6. The UK (to raise) indirect taxes on spending whereas direct taxes on income (to cut) substantially of late.

7. Taxation policy always (to reflect) socially desirable and undesirable priorities in society.

8. Interest on savings (to be) tax-free next year to encourage savings.

9. The government (to impose) high levels of tax on smoking and drinking since last year.

VIII. Translate into Russian paying attention to the word ‘though’.

1. Though there has been some cutting back in the past decade, there is nevertheless broad agreement that the system is valuable.

2. Unearned income does not, in principle, escape tax, though there are exceptions.

3. There may be a tax on the value of any property owned by an individual, though, it is not always the case.

4. Land and property also attract capital gains tax, though an individual’s principal domestic residence is often exempt.

5. Capital gains tax may be charged on any gain, though more likely there will be an annual exemption.