Tax return is the form on which you have to give information so that your tax can be calculated. The definition of the amount subject to taxation requires an analysis of the taxpayer's situation and of the legal provisions that apply to him. With the income tax (and also some taxes on the transfer of property, such as the inheritance tax), the taxpayer submits a tax return providing information as to his occupation, his real and personal property, his professional expenditures, and other pertinent matters; a corporation supplies, additionally, copies of the balance sheet, profit and loss statement, and minutes of the general meeting that approved these financial reports. The return, with the attached reports and statements, is meant to provide such complete information that the assessing tax official (someone who works for the government, deciding how much tax a person or company should pay) can rely on it to compute the correct tax. In examining tax returns, the basic principle is that a return is assumed to be correct until the assessing official determines otherwise. In countries such as the United States, where the self-assessment method prevails (the income taxpayer's liability is computed by himself), a minority of returns is selected for audit; most of them are only checked as to timely arrival, inclusion of all required forms and attachments, and arithmetical accuracy.
1) What meant by the term “tax return” is? 2) What analysis the definition of the amount subject to taxation does require? 3) What the taxpayer does submit? 4) What a tax does return provide? 5) What a corporation does supply? 6) What is the return to provide meant? 7) What the basic principle in examining tax returns is? 8) Where does prevail the self-assessment method? 9) What the self-assessment method in countries such as the United States mean does?
II. Agree or disagree with the following statements.
1) Tax return is a formal statement on a required legal form showing taxable income, allowable deductions and exemptions, and the computation of the tax due. 2) Taxation is required to analyse the taxpayer’s situation. 3) Taxation is asked to analyse the legal norms that apply to the taxpayer. 4) The taxpayer is not bound to submit a tax return. 5) The taxpayer's return provides information of his intellectual facilities. 6) The corporation’s return supplies copies of commercial secrets. 7) The assessing tax official cannot lean on a return to compute the correct tax. 8) The return is assumed to be proper until the assessing official determines otherwise. 9) Income tax is a tax on the net income of an individual or a business. 10) Inheritance tax is a tax on the money or property that you give to someone else after you die. 11) Real property is property in the form of land or houses. 12) Personal property is something that belongs to you. 13) Tax inspector is someone who works for the government, deciding how much tax a person or company should pay.
III. Translate the statements from Russian into English.
1) Налогоплательщик должен представить налоговую декларацию. 2) Налоговая декларация обеспечивает полную информацию. 3) Сборщик налогов доверяет налоговой декларации. 4) Налоговые декларации должны быть подвергнуты аудиту. 5) Налоговая декларация должна подаваться вовремя.
IV. Complete the following statements.
1) Tax return is … 2) Taxation requires … 3) The taxpayer submits … 4) A corporation supplies … 5) The return is meant to provide … 6) In examining tax returns, the basic principle is … 7) The self-assessment method prevails in … 8) In the United States, a minority of returns is selected for … 9) In the United States, a majority of returns are checked as …
V. Scan through the text. Restore the word order in the questions that follow and answer them.
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