Методичка Усвят НД. Российской федерации гоу впо алтайский государственный университет международный институт экономики, менеджмента и информационных систем в экономик
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The Budget. Taxes
budget – бюджет contain – содержать corporate tax – корпоративный налог customs duty – таможенная пошлина developments – обстоятельства, события direct tax – прямой налог economic performance – экономические показатели excise duties – акцизы expenditure – расходы financial year – финансовый год follow – осуществлять (политику) forecast – прогноз income tax – подоходный налог indirect tax – косвенный налог issue – выпускать издавать (о документе) means – средства objective – цель property tax – налог на имущество revenue – доходы review – рассматривать, делать обзор sales tax – налог с дохода set out – излагать source – источник statement – заявление, официальный отчет tax – налог tax on income – подоходный налог taxation – налогообложение value added tax – налог на добавленную стоимость
Exc. 1. Match the terms with their definitions.
country
7) direct tax g) an amount that is added to the price of goods and services that people buy 8) indirect tax h) a tax that is collected from person’s earnings Exc. 2. Make the phrases, combining given words with the words tax and taxation (e.g., tax accounting, progressive taxation). 1. ..... accounting ..... 2. ..... allowance ..... 3. ..... authority ..... 4. ..... avoidance ..... 5. ..... consultant ..... 6. ..... corporation ..... 7. ..... deductible ..... 8. ..... direct ..... 9. ..... evasion ..... 10. ..... free ..... 11. ..... haven ..... 12. ..... income ..... 13. ..... indirect ..... 14. ..... inspector ..... 15. ..... loophole ..... 16. ..... loss ..... 17. ..... payer ..... 18. ..... progressive ..... 19. ..... rates ..... 20. ..... rebate ..... 21. ..... regressive ..... 22. ..... return ..... 23. ..... sales ..... 24. ..... shelter ..... 25. ..... withholding ..... 26. ..... year .....
Task 1. Read and translate the text. The budget is the government’s main economic statement of the year. It is forecast of revenue and expenditure for the coming year. In Great Britain the budget is prepared and usually issued in March. In major speech to Parliament, the Chancellor of the Excheque reviews the nation’s economic performance and describes the government’s economic objectives and the economic policies it intends to follow in order to achieve them. In November 1993 Great Britain introduced the “so-called” Unified Budget. Under this budget the government presents taxation and spending proposals to Parliament at the same time. The Budget now covers both the government’s taxation plans for the coming financial year and its spending plans for the next three years. The proposals are announced to the House of Commons by the Chancellor of the Exchequer in the Budget statement and are published in the Financial Statement and Budget Report. This report also contains a review of recent developments in the economy, together with an economic forecast and sets out the fiscal and monetary policies. The main sources of revenue are:
Vocabulary List Chancellor of Exchequer – канцлер казначейства Taxation and spending proposals – предложения по налогообложению и расходам The House of Commons – палата представителей National insurance contributions – взносы в национальную систему страхования Task 2. Comprehension questions
Task 3. Find in the text English equivalents for the following Russian words and phrases:
Task 4. Match the infinitives in A with the nouns in B. A B to forecast documents to prepare the budget to announce revenue and expenditure to follow plans to achieve the policy to present objectives to publish proposals Task 5. a). Read the text and translate it into Russian. b). Say what you know about the procedure of adopting the federal budget in Russia. Russia began the publication of annual budgets in 1860. At present, draft budgets are prepared by the government and are submitted to the State Duma for consideration and approval in autumn. The draft must pass through 4 readings, during which different amendments are made into the draft. Traditionally, the second reading is the most difficult because it is at the second reading that budgetary expenditures are determined. If the State Duma and the Federation Council approve the draft budget it goes to the President who signs it into law. Words and word combinations you may need draft budget – проект бюджета submit for consideration – представить на рассмотрение The State Duma – Государственная Дума approval – одобрение pass through a reading – пройти чтениеg make an amendment – внести поправку determine – определять approve – одобрять the Federation Council – Совет Федерации Task 6. Write words which are frequently used with the word “budget”, compare the list with your partner’s list.
Task 1. a) Read and translate the text. B). Answer the comprehension questions to the text. Taxes are a compulsory financial contribution by a person or body of persons towards the expenditure of a public authority. The government has a choice of taxing income, wealth or consumption to finance its expenditure on defence, social services, municipal services etc. The main forms of direct tax are income tax paid by individuals and corporation tax paid by businesses. Income tax in Great Britain dates from the 1790s and has until recently been the major source to generate tax revenue. Income tax can be progressive, proportional or regressive. The idea of a progressive tax is to take more from those who earn more. Indirect taxes are imposed on certain products or services that people buy. The main ones are value added tax and excise duties. Pressure to increase government expenditure may lead to a search of new taxes. Some people argue for a more direct link between specific taxes and particular items of government expenditure. For example, taxes from motorists could be spent on roads and the transport system while the tax from alcohol and tobacco could be spent in the national health service. But it is impossible for the government to match all individual taxes with particular spending programmes. The major principles of a tax system are that it should be equitable and reasonable. Then the incentive to avoid and evade tax would be less. The system of tax collection shouldn’t be costly and shouldn’t contain a lot of tax allowances and exemptions. Vocabulary List compulsory – обязательный body of persons – группа лиц public authority – орган власти defence – оборона generate – производить progressive – прогрессивный proportional – пропорциональный regressive – регрессивный impose – вводить pressure – давление argue (for) – приводить доводы в пользу link – связь specific – конкретный particular – отдельный motorist – автомобилист while – в то время как alcohol – алкогольный напиток tobacco – табак National health service – Национальная система здравоохранения match – увязывать principle – принцип equitable – справедливый incentive – стимул avoid taxes – избегать уплаты налогов tax allowance – налоговая льгота tax exemption – налоговое освобождение Task 2. Comprehension questions
Task 3. Find in the text English equivalents for the following Russian words and phrases:
Task 4. Match the infinitives in A with the nouns in B. A B to tax allowance and exemptions to finance income to impose defence to generate expenditure to increase money to spend taxes to contain tax revenues Task 5. a). Read the text and translate it into Russian. b). Say what you know about taxation in Russia. The Federal Tax Service in Russia is a relatively new organization but its role is becoming very important because the private sector is developing fast. Taxation is the most important factor in implementing economic reforms. The Russian Government is trying to lower the tax burden and to simplify the tax system. For example, the government departed from the progressive income tax system and introduced a flat income tax which individuals pay at a 13% rate irrespective of the income. There are plans to reduce profit tax and VAT. The government is going to eliminate some tax allowances and exemptions. Words and word combinations you may need tax burden – налоговое бремя simplify – упрощать depart from – отходить от чего-либо flat income tax – единый подоходный налог irrespective of – вне зависимости от … at a rate – по ставке eliminate – отменять, уничтожать Task 6. Write verbs and nouns which are frequently used with the word “taxes”, compare the list with your partner’s list. Task 7. Read the interview with the financier and sum up his assessment of the situation with the budget. Interviewer: The work of the draft budget is over and it has been submitted to the Government for consideration. How do you assess the draft? Financier: I like the budget. It provides for a surplus. Int.: It’s great. But don’t you foresee problems with servicing the foreign debt? F.: No, the debt will be repaid under the schedule. We have reserves for that. Int.: I see. You mean money from privatization, from the sale of oil and other raw materials, don’t you? F.: Yes, you are right. First of all, I mean export receipts from foreign economic activity. But then, I’d like to stress, we are learning to manage the federal budget expenditure better. Int.: The Treasury contributes to that, doesn’t it? F.: Yes, it does. Int.: Let’s hope the draft will be passed in four readings by the 1st of January. F.: Let’s hope the legislative branch adopts the budget without delay. Int.: How is the budget for this year being implemented? F.: It’s being implemented according to the approved appropriations. Though spendings on health, education and science have been increased, personal incomes have gone up too, I mean wages and pensions. There is no deficit. Int.: It’s nice to hear that but as far as I know, administrative spendings have gone up. F.: Yes, you are right. It’s a problem. Words and word combinations you may need assess – оценивать provide for – предусматривать surplus – профицит foresee – предвидеть debt – долг export receipts – экспортные поступления manage – управлять treasury – казначейство legislative branch – законодательная ветвь власти approved appropriations – утвержденные ассигнования personal incomes – доходы населения deficit – дефицит Task 8. Say/write what you know about “the budget”, the Russian budget and its adoption procedure. Texts for Additional Reading Translate the texts into Russian and analyze grammatical and lexical problems of the translation with your teacher. The Federal Budget The federal budget of the US provides an analysis of expected future revenue and a detailed plan of spending for the upcoming year. The budget is prepared under the supervision of the President. Then it is submitted to Congress for modification and approval. Budget accounts are audited at the close of each year. Except for areas of national security, all citizens have the right to review the audits and inspect how public funds were received and spent. The successive stages in budgeting – preparation, authorization, execution and audit are known as the budget cycle. The budget is designed to indicate major categories of revenue sources such as personal income tax, sales tax, profit tax etc. Expenditures are listed by the government departments and agencies and are often enumerated in broad terms such as amounts for health, national security or education. Preparation of the budget is a complex political process. The President makes the final decision on how much to request from Congress for different spheres and programmes. If the budget bill is approved by the House of Representatives and the Senate, it is sent to the President for signature. Taxation In the United States, federal, state and local governments cover their expenses mainly through taxation. Each level of government depends chiefly on one or two types of taxes. In general, local governments receive most of their tax revenue from property taxes. State governments depend on sales tax, state income tax and excises. The federal government’s chief source of revenue is the federal income tax. Other federal taxes include the corporate profit tax and social insurance taxes. In October 1986 the president signed into law the Tax Reform Act of 1986 – perhaps the most massive reform of the US tax system. The tax reform was aimed at improving the fairness of the federal tax system and at restoring confidence in the system by eliminating inequalities. As elsewhere some taxpayers try to find loopholes in legislation and evade taxes. Some others do not pay taxes or do not pay them fully because they do not understand the procedure of tax collection. The US Internal Revenue Service try to educate taxpayers, to provide them with information to help them to comply with the tax laws. Different educational programmes designed for specific groups of taxpayers have been worked out. Factors of Production This is the collective term for the economic resources in the production system. It is these inputs that are transformed into the output of final goods and services. Economists group the resources into four categories. Land is the term for all natural resources that are used in production. Raw materials are therefore taken from the stock of natural assets. The economic reward that goes to the owners of this factor of production is called rent. Labour can be defined as the sum of all the physical and mental effort that goes into production and includes the tasks of management. The economic return to those who supply labour is wages / salaries. Capital is the economic term for any man-made productive asset. It is business capital that is the factor of production rather than personal or social capital. Business capital refers to the physical capital equipment and property of firms. The economic reward to capital is called interest. Enterprise is regarded as the coordinating factor of production. It involves both the organization of the economic resources and an element of risk taking, its reward is profit. TAXATION Everyone knows that taxation is necessary in a modern state. Taxes are a part of life. Governments argue that taxes are a necessary evil – the price of a «civilized society». In fact, taxes help governments to pay massive amounts of money to operate and provide necessary services. Taxes are needed to pay salaries, they provide roads, schools and hospitals and help to pay the bill for such services as garbage collection* and postal delivery*. Without taxes it would not be possible to pay the soldiers and policemen who protect us; not the workers in government offices who look after our health, our food, our water, and all other things that we cannot do for ourselves; not also the ministers and members of parliament who govern the country for us. By means of taxation we pay for things that we need just as much as we need somewhere to live and something to eat. Taxes can be divided into two categories: direct and indirect. Income tax, corporate tax, and property tax are examples of direct taxes. Income tax is probably the most resented, because in some lands it is progressive – the more you earn, the more tax you pay. Indirect taxes include sales taxes, taxes on liquor and cigarettes, and customs duties. Though everyone knows that taxation is necessary, different people have different ideas about how taxation should be arranged. Should each person have to pay certain amount of money to the government each year? Or should there be a tax on things that people buy and sell? If the first kind of taxation is used should everyone pay the same tax, whether he is rich or poor? If the second kind of taxation is preferred should everything be taxed equally? Nobody enjoys paying taxes, many people try to find different ways to avoid paying certain taxes. That′s why whenever a new tax is proposed, legislators try to close any possible loopholes*. Vocabulary List garbage collection – вывоз мусора postal delivery – доставка почты loophole – лазейка Task 1. Скажите, верны ли следующие утверждения согласно тексту?
Task 2. Ответьте на следующие вопросы:
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