Vocabulary

2. Match the beginning of the sentence with its ending.

1. This department	a) is withheld from your paycheck
2. Central government revenues	b) are added to the amount while buying items
3. You must pay corporation tax	c) is to raise revenues
4. Property Tax	d) is responsible for the collection of taxes
5. A certain amount of the money	e) is used to calculate how much tax you pay
6. The main aim of the Internal Revenue Code	f) come primarily from income tax, national insurance contributions, value added tax, corporation tax
7. Sales taxes	g) if your company is resident in the UK
8. A PAYE Coding Notice	h) is to be paid for your property

3. Fill in the correct words from the list below.

National Insurance, Value Added Tax, corporation, tax return, tax inspector, withholding, fiscal year, HMRC, income

1. …….. is a tax which is taken from pay for the UK's health and social security system.

2. …….. tax is payable on worldwide profits.

3. ……. is a method of collecting taxes.

4. In a ……. you give information about what you earn every year.

5. A …….. is a period of twelve month arbitrarily chosen for tax purposes.

6. …….. is paid to the government on goods and services and can be reclaimed by retailers.

7. A ……… is a person who decides how much tax an individual should pay.

8. In Britain …….. is the government office which collects the main taxes.

4. Underline the correct word.

Not everyone/someone needs to complete a tax return. If your tax affairs are straightforward/straight you may already pay all of the tax due on your earnings or pensions through your PAYE (Pay As You Earn) tax coding/ code. But you may need to finish/complete a tax return if you have more complicate/complicated tax affairs, even if you already pay tax through PAYE. There are also certain circumstances/requirements in which you will always need to complete a tax return - for example if you're self-employed, a company director, a trust/trustee or if you have foreign/foreigner income.

5. Translate into English.

Система налогообложения в США подразделяется на федеральную налоговую систему и на систему налогов штатов и муниципальных образований.

Основная часть американских граждан (до 90%) выплачивает в виде налогов примерно 25% своих доходов. У оставшихся 10% доля налоговых отчислений выше, иногда она достигает 50%.

Персональный (личный) подоходный налог был введен в США в середине XIX века.Это самая крупная статья доходов. Налог взимается по прогрессивной шкале.

Налог c доходов корпораций (корпоративный подоходный налог) возник в начале ХХ века и поначалу составлял всего 1%. Максимальной величины —52%— этот налог достиг в конце 1940-х годов, после чего он постепенно снижался. В настоящее время он не превышает 46% и колеблется в зависимости от форм и видов деятельности корпораций.