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Vocabulary Notes on the Text

1 territory economic structural formations – территориально-экономические структурные образования

2 technologies – технологические разработки

3 scientific engineering zones – научно-технические зоны

4 to achieve advanced gains – добиться больших достижений

5 tax rates – налоговые ставки

6 preferences – льготные таможенные пошлины

Exercises on the Dialogue

  1. Read and translate the dialogue.

  1. Give English equivalents of the following Russian phrases:

по инициативе местных властей; с разрешения центрального правительства; независимые структурные образования; обеспечить наиболее благоприятные условия; защитить интересы иностран­ного капитала; привлекать иностранные инвестиции; отечествен­ное производство; технологические разработки; современные дос­тижения науки и техники; пограничные зоны; крупные железно­дорожные узлы; регулировать экспортно-импортные операции; ус­тановить порядок въезда, выезда и пребывания; установить льгот­ные таможенные пошлины

3. Answer the following questions:

  1. How are free economic zones (FEZs) formed?

  1. What is the most important economic characteristic of a FEZ?

  1. What is the objective of such zones?

  2. What are these zones supposed to do?

  3. Where are they usually organized?

  4. How many groups are free economic zones divided into?

  5. What can you say about the first group of FEZs?

  6. What can you say about the second group of FEZs?

  7. What is the third type of FEZs?

  1. What rights does a FEZ enjoy?

  1. What are the privileges in FEZs?

  1. Why are foreign investors attracted to FEZs?

4. Retell the dialogue:

  1. on the part of the speaker A;

  1. on the part of the speaker B;

  1. on your own part.

Vocabulary and Speech Exercises

5. Read and translate the following dialogue. Report it as close to the text as possible.

Paying Customs Duties and Taxes

A. What kind of taxes must be paid to the Customs Authorities be­fore the goods are handed over to legal entities and individuals?

B. Well, the taxes that must be paid on importation include as a rule customs duties, value-added tax and some special import taxes.

A. How can I know the rates of customs duties?

B. Customs duties for all types of goods are printed in the Customs Tariff which is available in bookshops.

A. What is ad valorem duty and how is it calculated?

B. Ad valorem duty is a tax charged as a percentage of the value of the goods, as distinguished from a fixed duty or tax. Calculation of ad valorem duty is based on the GIF value of goods, that is on cost, insurance and freight charges. Note, that freight charges should always be included in the customs value.

A. I see. And are all imported goods liable to VAT?

B. Most of them, there is only a small number of exemptions. The tax rate is a fixed percentage of the customs value plus any customs duties and taxes collected by the Customs on importation.

A What does a special tax mean?

B. This is a kind of tax to which only certain types of goods are subject.

A How are tax rates settled?

B. Tax rates are decided by the Government Authorities, each year in connection with the passing of the Budget. Tax rates can be changed from year to year.

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