Text-study

I. Learn the following words

Processing in the customs territory – обработка на таможенной территории;

processing for domestic consumption – обработка для внутреннего потребления;

processing outside the customs territory – обработка за пределами таможенной территории;

conditional – условный;

foreign market – внешний рынок;

competitive – конкурентоспособный;

prescribed – предписанный;

subsequent – последующий;

countervailing – компенсационный;

applicable – применимый, приемлемый;

to handle products – обрабатывать товары;

refined products – обработанные товары;

value added tax (VAT) – налог на добавочную стоимость (НДС);

excise tax – акцизная пошлина;

interest – процент;

rate of refinancing – ставка рефинансирования;

food processing – перерабатывающая промышленность;

economic value – экономическое значение;

to grant – предоставлять;

tax benefits – налоговые льготы;

refund – возврат;

reimbursement – возмещение.

II. Answer the following questions

1. What does the customs regime of processing in the customs territory imply?

2. What is the main purpose of the customs regime of processing in the customs territory?

3. In what case are the imported goods exempted from customs duties and taxes?

4. What happens if the processed goods are removed with the violation of the prescribed time period?

5. What is the key element of the regime of processing in the customs territory?

6. What is the essence of the regime “processing for domestic consumption”?

7. What are the main differences between the regimes “processing in the customs territory” and “processing for domestic consumption”?

8. May all the goods be placed under the regime of processing for domestic consumption?

9. What does the customs regime of processing outside the customs territory allow?

10. What is the economic value of processing outside the customs territory?

11. What tax benefits are granted within the framework of processing outside the customs territory?

12. What does paragraph 3 of the Article 197 of the Russian Customs Code provide?

III. Choose a), b) or c) to complete the following statements about the text.

1. Processing in the customs territory supposes … provided that the processed goods are removed from the customs territory within a certain period of time

a) payment of customs duties and taxes;

b) partial exemption from customs duties and taxes;

c) complete conventional exemption from customs duties and taxes.

2. The main purpose of the processing in the customs territory is … .

a) to hinder the development of the national economy;

b) to provide domestic producers the opportunity to offer their products on foreign markets at competitive prices;

c) to evade payment of duties and taxes.

3. … is a key element of the regime of processing in the customs territory.

a) The subsequent removal of countervailing goods;

b) The removal of the processed goods with the violation of the prescribed time period;

c) Re-exportation of the imported goods.

4. … may be placed under the customs regime of processing for domestic consumption.

a) All the goods;

b) A limited range of goods;

c) Only re-imported goods.

5. The main economic value of the customs regime “processing outside the customs territory” is ….

a) to provide domestic producers the opportunity to cut production costs and offer their products on the domestic market at more competitive prices;

b) to provide the exemption, refund or reimbursement of internal taxes on goods being exported for recycling;

c) to eliminate preferences in payment of import customs duties and taxes.