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Облик и аудит КМС Пидоренко 2004.doc
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I. Закінчіть речення в лівому стовпчику за допомогою фраз з правого стовпчика: (Score – 7 points)

A

B

  1. a non resident is

  1. are to be performed by the Ingland Revenue

  1. The documents issued in the countries with which Ukraine entered into international agreements

  1. is to be bourne by non-residents and non-residents permament represantive offices.

  1. In accordance with the convention in Great Britain the functions of the competent body

  1. a legal and economic entity.

  1. the responsibility for the repatriation tax with holding and remittance to the budget

  1. the non-resident participating in its organisation directly.

  1. Activity is considered as an economic one in the case of

  1. are not liable to mandatory legalisation.

  1. British companies`profits from commercial activities

  1. are to be taxed exclusively in Great Britain.

  1. An activity is considered a commercial one when

  1. it is connected with the similar agreements performance and directed to making profit.

II. Знайдіть еквівалент до наступних словосполучень. (Score – 7 points)

III. Назвіть речення, що відповідають змісту тексту. Виправте невірні твердження: (Score – 7 points)

  1. A non-resident is a legal and economic entity, but has no legal entity status within Ukraine.

  2. The documents issued in the countries with which Ukraine entered into international agreements of legal help and relationship are liable to mandatory legalization.

  3. The term “Ukraine” means the territory of Ukraine, its continental shelf and its exclusive (sea) economic area.

  4. Economic activities of a resident are any of his activities aimed at income receipt in money, material or non-material forms.

  5. The term “commercial” embraces relations of a trade character and relates to any trade agreements on goods delivery or services rendering, agreements on lease, bank services underwriting etc.

  6. A construction site or erection project is considered a permanent representative office if it exists more than 6 month.

  7. The treaty countries’ residents may enjoy the advantages of the relevant agreement norms in accordance with the established procedure.

IV. Дайте відповіді на питання до тексту: (Score – 7 points)

  1. What does the word “repatriation” mean?

  2. What does the term “the United Kingdom” means?

  3. What does the term “Ukraine” means?

  4. What are economic activities of a non-resident?

  5. What is the definition of the term “commercial”?

  6. What does the term “permanent representative office” main?

  7. What are the most widespread types of incomes, whose payments to a non-resident are to be accompanied by the repatriation tax withholding?

(Total Score – 62 points)

Unit 5. (Total Score – 65 points)

WORK WITH CASH IN UKRAINE: FROM "A" TO "Z" (Score – 6 points)

In Ukraine enterprises make settlements with each other and with entrepreneurs and individuals for account of binds received from cash offices of banks and for account of cash proceeds, they are made through the cash office of an enterprise, which accepts, pays out and holds cash, valuables and cash documents, where usually a cash book is kept. The main document, which regulates procedures and conditions for conducting business cash transactions in Ukraine is the “Provision on Conducting Cash Transactions in the National Currency of Ukraine”, approved by the resolution of the NBU directors of February 19, 2001 No. 72 (hereinafter referred to as Provision No. 72').

The requirements of this Provision are legally binding and mandatory and must be met by all legal entities (except for banks and postal communication enterprises), their detached sub-units, representative offices of foreign organizations and firms carrying out business activities, as well as by individuals-business entities registered in accordance with the established procedure. The only exceptions are foreign diplomatic, consular and other official representative offices located on the territory of Ukraine, international organizations and their affiliates enjoying immunity and diplomatic privileges, and offices of non-commercial foreign organizations. An enterprise may use sales proceeds for its own operating costs and disbursements; but if a tax liability exists, wages may only be paid from funds administered through a bank.

It is important to note that Provision No. 72 imposes a restriction on the permissible amount of any cash transaction between enterprises (entrepreneurs), which should not exceed 3,000.00 Ukraine Hryvnya per day, regardless of the number of payment documents. As always, there are some exceptions toTrule. The restriction does not apply to an enterprise's settlements with individuals, budgets and state specialized ws, Wnall and medium-sized enterprises etc., when they are financed through a credit line of the European Bank of Reconstruction and Development for the development of alfand medium-sized enterprises; amounts of donations, charitable aid, cash collected by state tax service bodies, payments for consumed electrical energy, funds paid out for a 8 years trip, and settlements of enterprises (entrepreneurs) each other for the purchase of agricultural products (whose is provided for by the State Classifier of Products & Services 96-97, codes 01.11-01.42 & 05.00.1-05.00.42). Let's now discuss the documents and procedures relevant to registering operations on acceptance and payment of money. The cash office of an enterprise. Enterprises (entreieurs) are to settle in cash with each other and with individuals by using credit and debit cash slips, register and chase receipts, settlement receipts, travel documents and other types certifying the fact of selling (returning) goods. dunngtervices, receiving (returning) funds as well as contracts, agreements, acts of purchasing goods, etc. The procedure of paying out cash on account is regulated by clause 2.15 of Provision No. 72, in accordance with which money may be paid out on account provided that individual worker has elucidated for all sums given out earlier. For this purpose he is to compile a report on how the funds received were used and to submit it to the accounting department along with supporting documentation and the balance of any non-used cash, within the following terms:

  • for a business trip — within 3 working days after returning from the business trip ;

  • for the purchase of agricultural products, products of its processing and secondary raw materials (except for scrap metal) — within 10 working days commencing on the day of paying out cash on account;

  • for other production (economic) needs — on the next working day after paying out cash on account.

If a worker incurs necessary expenses, which he pays for by himself, during a business trip or for the purchase of goods (services), he is to report within the same (above-mentionedHime limit. If an accountable individual at the same time received money for^ business trip and for solving production (economic) tasks, advance statement on both the sums given out for economic needs and on those paid out as travelling allowance is to be drawn up within 3 working days after returning from the business trip irrespective of the duration. One more peculiarity of the procedure of carrying out cash transactions in Ukraine concerns the cash balance limit of a cash office. This is a limit cash amount, which may remain in the cash office of an enterprise at the end of a business day. It is fixed by the banking establishment in which the enterprise has opened a current account. Therefore, funds in the amount not exceeding the limit may be kept in the cash office of an enterprise at the end of the working day.

In order to fix a limit an enterprise is to draw up an application-calculation in which a necessary limit amount is to be well substantiated. It should be submitted to a bank not later than on March 1 of the current year. The application will be considered and a cash limit, as well as the procedure and terms of surrendering cash proceeds for an enterprise, will be fixed. If an enterprise does not submit the application-calculation until the deadline, the limit will not be fixed for it and therefore all the cash available in its cash office must be obligatorily surrendered to the bank. The cash limit is to be fixed for one year and that set limit is valid until the day of approval of the new set limit for the following year. If there are well substantiated reasons, an enterprise may within a year apply to the bank with request to reconsider the fixed cash limit.

Enterprises that have current accounts in several banking establishments may, at their own discretion, submit the said application-calculation to any banks in which current accounts are opened, and submit copies of the application-calculation with the set cash limit to other banks. You have a right to keep in the cash office money within the set limits for payments connected with labor remuneration, which are made both for account of funds received in the bank and for account of proceeds, within three working days commencing on the maturity day including the day when the bank received the cash. The money received from the bank for other expenses are to be given out to workers on the same day. The amounts not utilized purposefully are to be returned to the bank not later than the next working day. If a limit amount is not exceeded for account of these amounts, they may still be kept in the cash office of an enterprise and be given out for the same needs.

In conclusion, it is vital to stress that strict observance of the established cash regulations is a necessary condition, not only to avoid penal sections imposed by the controlling bodies, but also to correctly administer and document the commercial transactions of an enterprise.

Words and word combinations (Score – 28 points)

  1. Make settlements

здійснювати розрахунки

  1. Entrepreneur

приватний підприємець

  1. Individual

фізична особа

  1. Cash office

каса

  1. Cash proceeds

готівкова виручка

  1. NBU directors

правління НБУ

  1. Detached sub-unit

відокремлений підрозділ

  1. To enjoy immunity

ті, що користуються імунітетом

  1. Operations costs and disbursement

поточні витрати

  1. Tax liability

податкова заборгованість

  1. State specialized fund

державний цільовий фонд

  1. Donation

пожертвування

  1. Charitable aid

благодійна допомога

  1. Tax service body

орган податкової служби

  1. Debt cash ship

розхідний касовий ордер

  1. Register receipt

касовий чек

  1. Purchase receipt

товарний чек

  1. Settlement receipt

розрахункова квитанція

  1. Invoice

рахунок-фактура

  1. To elucidate

звітувати

  1. Scrap metal

металобрухт

  1. Advance statement on

авансовий звіт по

  1. Traveling allowance

відрядні

  1. Application-calculation

заява-розрахунок

  1. Until the deadline

В крайній строк

  1. At one’s own discretion

З власного розсуду

  1. Labor remuneration

оплата праці

  1. Maturity day

день оплати, що настав

I. Назвіть речення, що відповідає змісту тексту. Виправте невірні речення. (Score – 8 points)

  1. An enterprise may use sales proceeds for its own operating costs and disbursements.

  2. Provision № 72 imposes a restriction on the permissible amount of any cash transaction between enterprises, which should not exceed 2.000.00 Ukraine Hryvnya per month.

  3. Enterprises are to settle in cash with each other and with individuals by using credit and debit cash ships.

  4. The cash balance limit of cash office is a limit cash amount, which may remain in the cash office of an enterprise at the end of a business day.

  5. In order not to fix a limit an enterprise is to draw up an application-calculation in which a necessary limit amount is to be well substantiated.

  6. Enterprises that have current accounts in several banking establishments may submit the said application-calculation to any banks in which current accounts are opened.

  7. Enterprises that have current accounts are not allowed to submit copies of the application-calculation with the set cash limit to other banks.

  8. Strict observance of the established cash regulations is a necessary condition to correctly administer and document the commercial transactions of an enterprise.

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