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IV. Memorize the following words and word-combinations.

Use them in the sentences of your own:

tax evasion — ухиляння від сплати податку

local/national taxes — місцеві/державні податки

direct/indirect taxes — прямі/непрямі податки

income tax — прибутковий податок

land tax — земельний податок

to tax/to impose a tax — обкладати податком; оподатковувати

imposition, n — обкладання (податком); оподатковування; податок

to pay taxes/impositions — платити податки

to impose on/upon — пропонувати; покладати; нав’язувати

to collect taxes — збирати податки

levy, n — збирання, стягування (податків тощо), оподатковування

to levy — збирати, стягувати (податки тощо), оподатковувати

V. Translate the sentences paying attention to the italicized words:

1. People pay tax according to their income. 2. New taxes were imposed on wines and spirits. 3. The car is taxed until July. 4. Income tax is a direct tax levied on personal income, mainly wages and salaries. 5. Taxation can be used to limit harmful externalities. 6. Tax evasion is a criminal offence. 7. Everyone grumbled at the imposition of new taxes. 8. Don’t impose yourself on people who don’t want you. 9. I must perfom the task that has been imposed upon me.

VI. Match each term in Column a with its definition in Column b:

Column A Column B

1. proportional tax

a. A financial plan that summarizes income and expenditures over a period of time.

2. progressive tax

b. Raising of money from individuals and organizations by the state in order to pay for the goods and services it provides.

3. regressive tax

c. One that takes a higher percentage of a low income and a lower percentage of high income.

4. sales tax

d. One that takes the same percentage of all incomes regardless of size.

5. property taxes

e. One that takes a larger percentage of a higher income and a smaller percentage of a lower income.

6. tax assessor

f. A regressive tax added to the price of goods at the time they are sold.

7. budget

g. A person who places value on property for tax purposes.

8. taxation

h. A tax on real estate, land and buildings.

VII. Define which of the following items best completes

the statement:

1. Sometimes, government decreases taxes to encourage consumer

spending. Which reason to collect taxes does this policy illustrate?

a. To pay the cost of government.

b. To protect selected industries.

c. To regulate the level of economic activity.

d. To discourage or encourage certain industries.

2. The financial plan of a government is called

a. its debt.

b. taxation.

c. national planning.

d. a budget.

3. The government’s budget will have a deficit whenever

a. taxes are reduced.

b. taxes are increased.

c. spending is increased.

d. spending is greater than revenue.

VIII. Complete the following sentences:

1. There are three types of taxes in the USA ... . 2. A proportional tax is one that ... . 3. A progressive tax is ... . 4. A regressive tax is ... . 5. A sales tax is ... . 6. Most states allow their merchants ... . 7. The sales tax generally is a very effective means ... . 8. A major source of revenue is ... . 9. Real property includes ... . 10. Tangible property is ... . 11. Intangible personal property includes ... . 12. The main problem with personal property as a source of revenue is ... . 13. A tax assessor is ... .