VI. Translate into English using active words of the text.

1. Уклонением от налогов называется умышленная невыплата начисленных налогов.

2. Уклонение от налогов противозаконно.

3. Одним из простых способов освобождения от налога является требование предоставить причитающиеся льготы.

4. Можно копить деньги вне облагаемых налогом формах.

5. Траст существует ограниченный период времени.

6. Целью трастов скорее является сохранение доходов и обеспечение безопасности для капитала.

7. Можно законно избежать уплаты налога, если еще при жизни передать свое имущество наследникам.

VII. Translate the following sentences paying attention to Modal Verbs.

1. A businessman must declare all his income from whatever source to the tax authorities.

2. Allowance may be made for any taxation paid in other countries.

3. An individual will be able to avoid taxes if he / she saves in tax-free schemes.

4. PAYE can necessarily operate when the tax-payer is employed by someone else.

5. The self-employed must pay income tax directly.

6. Local services have to be funded.

7. Since we saved in the private sector we had to pay taxes on interest.

8. These payments are to be paid net of tax.

9. The rate of tax can be as high as 20% or 30%, but it may also be nominal.

10. Withholding taxes should have been checked by a foreign investor at the outset.

VIII. Translate the following sentences into English.

1. Вы не должны уклоняться от налогов.

2. Все физические лица должны декларировать свои доходы от аренды, инвестиций в налоговые органы.

3. Многие расходы можно вычесть из дохода до начисления налога.

4. Не нужно волноваться. Вы сможете получить 20% разницу индивидуального и корпоративного налога от налоговых органов.

5. Несмотря на трудности, компания сумела получить хорошую прибыль от инвестиций.

6. Можно ли мне заплатить налог без вычета расходов или я должен заплатить его с вычетом расходов?

7. Сейчас у нас нет времени изучать соглашение об отмене двойного налогообложения. Придется рассматривать их завтра.

IX. Practice translating participles and gerunds in the following English sentences.

1. The policitian remarked that his party would consider repatriating dividends paid to foreign investors.

2. Few votes are aware of paying VAT.

3. VAT, being levied at every stage of manufacture and service, is a different concept from sales tax.

4. Governments are free in setting their own rates.

5. The fixed sales tax can be administered by central government, local government or by state authorities.

6. Indirect taxes on spending are more politically beneficial than direct income taxes.

7. Leaving assets to minors in the form of a trust is much more common.

8. Putting money into trusts can also save taxes.

9. Arranging to pass on assests during your life so as to avoid inheritance tax on death is another legal way to avoid tax.

Text (b) double tax relief agreements

In an attempt to ensure that individuals and companies are not taxed twice simply by accident of the location of the income, governments have set up a series of what are called DTR agreements of treaties. What happens is that the bill of any overseas income is set against the bill which is due on the total income in the resident's (whether an individual or a corporation) country. Only the balance is paid.

In a case, however where the tax bill in the residence country is lower than that paid on overseas earnings there is no rebale. There is simply no tax to pay in the home country. This is the normal type of DTR agreement, though some are more comprehensive than others. DTR agreements have the additional benefit of helping to prevent tax evasion.

Under some DTR agreements certain types of income are taxable only in one of the countries who have signed the agreement. This is the case, for instance, in the agreement between Malaysia and Singapore, where income taxed in one country is completely tax-free in the other. The reason is the fhistorical link between the two countries. Companies have Shareholders in both countries and the tax is payable in the country in which the company is resident. Individuals living |n one country may work in the other, and in such cases will pay the tax in the country in which they work. In cases where income is taxable in both countries the overseas tax is nor-allowed as a credit against the domestic tax due. In cases where no DTR agreement exists between countries, raising the unpleasant prospect of double taxation, I there may be what is called "unilateral relief". Under it, over-peas paid may be deducted in computing the overseas income taxable in the resident's country This is not always the case, however.