24.Taxation in usa

In the United States of America nearly all of the federal government’s revenues come from taxes. By far the most important source of tax revenue is the personal income tax. Gross receipts from corporate income taxes yield a far smaller percentage of total federal receipts. Individual states levy their own taxes. As a result, for example, the profits of a corporation are liable to federal and sometimes state corporate income taxes. This often imposes a double tax burden. When the after-tax income is paid out to stock-holders as dividends, it is then taxed again as personal income.

In the United Kingdom there is no single code of tax law, the body of tax legislation being increased by each year’s Finance Act¹.

The United Kingdom operates a “schedular” system², where’by taxable income from different sources is calculated and taxed under the rules of a particular “schedule”.

Tax assessments are normally based on returns by the Board of Inland Revenue (referred to simply as “Inland Revenue”) for completion by the taxpayer. While companies may receive tax return, they normally submit instead a copy of their annual accounts together with a computation of taxable profits.

The United Kingdom does not yet operate a system of self-assessments for tax on income and capital gains, but it is being introduces at the moment.

25.Taxation in ukraine

Under Ukrainian law, all Ukrainian legal entities, whether they have foreign investment or not, are subject to the profit tax law. Foreign entities that have a taxable permanent establishment in Ukraine are also taxed under this law.

Ukrainian taxes provide revenue for two tiers of the budget: national and local. The major taxes paid to the budget are: tax on income, tax on wages, profit tax, excise duty, state duty, value added tax (VAT) and others.

In Ukrainian government tries to create the climate in which business can thrive, to keep the tax burden as low as possible. It also attempts to eliminate tax allowances, which deprive the budget of tax revenues, and to improve tax collection.

Tax returns in Ukrainian legal entities are audited by the tax authorities at the time they are submitted.

If the company or a person assessed believes the assessment is incorrect in any way, an appeal may be lodged against it. The appropriate financial organ is required by law to reply to such an appeal within five days.

When a company resident in one country receives income or gains from source in another, or when shareholders and company are domiciled in different countries it is possible that incomes arising will be taxable in each country, i.e. taxed twice.

A number of countries have problems because of significant taxpayer non-compliance.

Along with cases of illegal evasion of tax obligations there are entirely legal ways of avoidance by which a person may so arrange his affairs as to minimize, or even eliminate, tax liability on his property and income.

2. Higher education in ukraine

Higher education is generally recognized as preparing individuals to realize more fully their human potential, enrich their understanding of life and make them more productive to society.

Future specialists in various fields of science, technology, economies and art get a fundamental general and specialized training, all students regardless of their specialty study foreign languages.

Our country needs specialists in all fields of science and all branches of industry and agriculture. Institutes exist not only in big cities like Kyiv, Kharkiv, Lviv, but in many towns of Ukraine like Irpin.

Higher educational establishments of our country fall into three main types and have four levels of accreditation. The first type includes the universities and institutes where there are only full-time students, which receive state grants. Students who do not live at home get accommodation in the hostels.

The second and third types of higher schools provide educational facilities for factory and office workers who combine work with studies. The second type of higher education in establishments includes evening faculties and evening higher schools for those who study in their spare time.

The third type covers extra-mural higher schools where students take correspondence courses. Every year extra-mural students receive from 30 to 40 days’ leave to prepare for their exams.

The diplomas by the evening faculties and extra-mural higher schools have the same value as the diplomas of all other institutes and universities.

The period of study at higher schools is from 4 to 6 years. According to the subjects studied there exist three groups of higher schools’ universities, polytechnic and specialized institutes.

Higher education in Ukraine undergoes tangible changes. It accepts different European standards, Bologna system and becomes more and more innovative. And now there are a lot of educational establishments having student changing and correlations with the Universities throughout the world. Our higher education gets European level and international recognition.