ü items
Translate this balance sheet sample into Russian.
5. Make sentences:
| The lecturer distributed | many materials a few diagrams a few balance sheets a few balance sheet samples |
| It was a lecture on | accounting balance sheet making securuties share capital reserves loans investments |
| The balance sheet says that | the assets the liabilities the net assets the total share holder's interest | of the Company in 1997 are/is.. |
6. Complete the sentences:
Current assets consist o f cash, marketable securities...
Long-term assets consist of property, plant and equipment, investments...
Total assets consist of current assets and...
Current liabilities consist of loans and...
Long-term liabilities consist of loans and...
Total liabilities consist of current liabilities and...
Total assets minus total liabilities make net assets...
Shareholder's interests plus minority interests make total...
ü to consist
7. Answer the following questions:
On what subject was the lecture mentioned in this Unit read?
What sample did this Unit capture?
What terms were lather difficult to remember?
Unit twenty nine
Taxes
Text
On a certain day after the lecture on the UK taxation system the Group was to visit the Tax Department of a lawyers' firm in the centre of London. Mr. Hill and the participants went there by tube which is the fastest means of transport when one wishes to move in the centre of the city. After they got into the building of the firm they went to the secretary's office.
Mr. Hill: Good afternoon.
Secretary: Good afternoon, sir.
Mr. Hill: My name is Hill and here is the Group of Russian businessmen. We have got an appointment with Mr. Brown for three.
Secretary: Mr. Brown is waiting for you in the conference room. Follow me, please.
In the conference room a few Englishmen were waiting for the Group. Mr. Brown, Head of the Department, welcomed the Group and introduced his colleagues. They were solicitors and legal assistants of different offices. Each of them spoke about his scope of business for some time. Thus the participants had some information on commercial taxes, international taxes. Project Finance taxes and other taxation matters.
A lot of questions were asked and answered then. The discussions were very useful and informative. Before the participants left they were offered latest Tax Guides containing current tax rates and tax saving hints.
Here is an extract from the Guide:
Corporation Tax Rates 1997
à Standard rate 33%
à Small companies rate (see the note) 25%
N o t e
Applicable if the company's total profits, including chargeable gains, are 300.000 pounds sterling or less. The threshold is reduced if the company has associated companies.
Examples: Corporation Tax calculations
Example 1. Standard rate of tax Company A has accounts year ending 31 December 1996. It has taxable profits for the year GBP 2,000,000.
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Company A's Corporation Tax for 1996 is GBP 2,000,00033% = GBP 660,000
Example 2. Small companies rate of tax Company has accounts year ending 31 December 1996. It has taxable profits for the year of GBP 150,000. It has no associated companies.
Company B's Corporation Tax for 1996 is GBP 150,00025% = GBP 37,500
Words and expressions
| tax | ||
| tax department | ||
| taxation | ||
| was to visit | ||
| solicitor | ( | |
| ) | ||
| legal | ||
| assistant | ||
| legal assistant | ||
| scope | , | |
| scope of business | ||
| commercial | [k@'mýSl] | |
| commercial taxes | ||
| Project Finance | ||
| matter | , | |
| taxation matters | - | |
| guide | [gaId] | |
| tax guide | ||
| rate | ||
| tax rate | ||
| to save | ||
| hint | , , | |
| tax saving hints | ||
| corporation | ||
| note | ||
| to apply | [@'plaI] | |
| applicable | ||
| to include | ||
| including | ||
| to charge | , , | |
| charge | ||
| chargeable | ||
| gains | ||
| less | , | |
| threshold | ['TreShould] | |
| associated | ||
| accounts year | ||
| taxable |
Exercises 1. Read the following:
| after the lecture on UK taxation system the Tax Department in the centre of London They went there by tube. | It is the fastest means of transport. They went to the secretary's office. in the conference room an extract from the guide threshold |
2. Underline the answers true to the text:
| After what lecture did the group visit a lawyers' firm? | On taxation. On lawyers. On lawyers' firms. |
| By what means of transport did they go? | By taxis. By tube. By bus. |
| Who is Mr. Brown? | Secretary. Head of a department. Head of the firm. |
| How many lawyers were present at the talk? | Only Mr. Brown. Mr. Brown and a colleague of his. Mr Brown and a few colleagues of his. |
| On what matters did they speak? | Only on commercial taxes. Only on international taxes. Only on Project Finance taxes. On a few taxation matters. |
| Did the participants ask any questions? | Yes, and quite a lot. Yes, just a few. No, they didn't. |
| What guides were they offered? | Latest tax guides. Latest project finance guides. Latest corporation tax guides. |
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3. Match English and Russian equivalents:
| containing current tax rates | |
| containing tax saving hints | |
| standard rate | |
| small companies iate | |
| the tax rate is applicable to... | |
| total profits | () |
| chargeable gains | |
| taxable profit | |
| the threshold is reduced | |
| to have associated companies | |
| accounts yeai | ... |
