style="font-size:15px;"> tax on profit – налог на прибыль
tax rate – ставка налогообложения
tax privileges,
tax benefits – налоговые льготы
tax bearers – налогоплательщики
regional taxes – краевые налоги
state guarantees – государственные гарантии
investment tax credit – налоговая льгота на инвестиции
compensation subsides – дотации на компенсацию
interest payment – выплата процентов
investment projects – инвестиционные проекты
expenditures – расходы, затраты, издержки
capital investment – вложение капитала, инвестиции
Task 2. Identify and underline the keywords and expressions in the above text.
Task 3. Give the English translation equivalents of the following Russian words and expression from the above text.
Типы налогов, распределение налогов, муниципальное образование, субъекты Российской федерации, транспортный налог, лошадиная сила, объем двигателя, реактивный двигатель, государственная поддержка, прибыль организаций, юридическое лицо, налоговая выплата, ставка рефинансирования, аренда государственной собственности, реализация инвестиционного проекта, частичная компенсация расходов.
Task 4. Give the Russian translation equivalents of the following expressions with the keyword “tax”.
Direct tax, indirect tax, progressive tax, redistributive tax, regressive tax, council tax, poll tax, inheritance tax, wealth tax, sales tax, consumption tax, value added tax, capital transfer tax, investment tax, company tax, corporation tax, road tax, carbon tax, energy tax, fuel tax, petrol tax, excise tax, import tax, to introduce a tax, to collect taxes, to levy taxes, to deduct taxes, to increase taxes, to cut taxes, to abolish taxes, to avoid taxes, taxman, tax law, tax measure, tax reform, tax revenue, tax break, tax advantage, tax allowance, tax exemption, tax fraud, tax consultant, tax inspector, tax loophole.
Task 5. Translate the following mini-texts into Russian, using the words and expressions from the above text and Tasks 2–4 or a dictionary if necessary.
1. Taxation in the United Kingdom may involve payments to a minimum of two different levels of government: the central government (Her Majesty's Revenue and Customs) and local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England and Wales, Council Tax and increasingly from fees and charges such as those from on-street parking.
2. Every state has a state guarantee for insurance companies. Most of the state’s programs guarantee annuities and the cash value of life insurance. For annuities most are guaranteed up to $300.000 but make sure your state is the same. The guarantee is not against the value dropping if you are invested in a variable annuity. The guarantees are to protect investors in case the insurance company goes out of business.
3. The earlier announced subsidies are intended to help employers fulfill a government mandate to raise the wages of low earners who would otherwise take home less because of recently introduced tax changes. The subsidies support a 5 % increase in the wages of such earners.
4. Capital investment may also refer to a firm's acquisition of capital assets or fixed assets such as manufacturing plants and machinery that is expected to be productive over many years. Sources of capital investment are manifold, and can include equity investors, banks, financial institutions, venture capital and angel investors. While capital investment is usually earmarked for capital or long-life assets, a portion may also be used for working capital purposes.
5. We use a laboratory experiment to investigate how the level of a budget assigned to an employee by a firm owner affects employee effort. Consistent with reciprocity and fairness models, we find a negative relationship between budget levels and employee effort – many employees responded to a low budget with high effort and responded to a high budget with low effort. We observed higher levels of reciprocal behavior (i.e., lower budgets and higher effort) when the same employee-owner dyad interacted for multiple periods relative to dyads only interacting for a single period.
6. Business expenditures can be divided into capital and revenue expenditures. Capital expenditures are expenditures that produce benefits across multiple time periods, such as the costs to acquire and make ready for use long-term assets. In contrast, revenue expenditures are expenditures that produce benefits across one single time period such as the costs to acquire products intended for sale and to run the operations to sell those same products. Revenue expenditures are more often called expenses.
7. Interest payment represents a payment amount determined by the interest rate on an account. As a borrower, an interest payment represents the rate charged for being lent funds. As an investor, interest payments represent income on earned cash accounts or fixed and variable rate securities.
8. On results of the first half-year 18 banks have entered into the list of 1000 largest tax bearers of the country. It paid 3.84 billion drams into the state budget. According to State tax service RA, Unibank also has entered into the list of the largest tax bearers of the country. The Bank has taken 151st place. In general, Unibank paid 140.6 million drams in the state budget.
Task 6. Determine the key information in each paragraph of the text “Tax Climate in the Region” and the corresponding key concepts and English words and expressions; write them down in the language of the original text.
Task 7. Make an English annotation of the text “Tax Climate in the Region” (100–120 words), using the results of the previous Tasks 2–6.
Task 8. Translate the section of the text “Tax Climate in the Region” entitled “The investment tax credit” into Russian, using a dictionary if necessary.
Task 9. “Back-translate” your Russian translation into English. Compare your translation with the original text. Discuss both English variants of the section
“The investment tax credit”,
