- •Vocabulary
- •Importation of goods
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •It rained, hence we were late.
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Vocabulary
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- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Insurance
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Vocabulary
- •Poor. 2. Insufficiently. 3. Low. 4. To spend.
- •Vocabulary
- •Vocabulary
Vocabulary
Part II
compulsory |
obligatory; required |
state |
a country with its government |
administration |
management of business or government affairs |
to maintain |
to keep up |
law |
rules made by a government for the correct conduct of people in a country |
order |
a condition brought about by a good and firm government |
defence |
resistance against attack |
social service |
welfare assistance for the needy, given usually by a government |
housing |
dwellings provided for people |
to settle |
to pay up |
welfare |
the state of doing well especially in respect to happiness, well-being or prosperity |
to subsidise |
to aid or furnish with money which is provided by a government or society to an industry or another cause needing help |
debt |
money that is owed |
distinct |
different in kind |
death duty |
a tax payable on a person’s property after his death |
to discourage |
to lessen the courage or confidence |
earnings |
payment for work |
liquor |
an alcoholic drink |
petroleum |
oil(from forest in prehistoric times) found underground and obtained from wells. It is used in various forms(petrol, kerosene etc.) for lighting, heating and driving machines. |
excessive |
Immoderate |
claim |
a sum of money demanded for something done or lost, e.g. an insurance claim, a wage claim etc. |
wages |
payment made or received for work or services performed |
mindful |
attentive, watchful |
to overtax |
to tax to much |
revenue |
the total annual income of a state |
obligation |
a duty |
net, nett |
a balance after deductions, e.g. net price |
Explanations
Part III
Compulsory (adj) describes something that must be done.
French is a compulsory subject at school.
Military service is compulsory in the United Kingdom.
Compulsion (n) is the act of forcing.
He attended school under the compulsion of his father.
Persuasion is more likely to succeed than compulsion.
Industry describes the quality of working hard. It also means trade or manufacture.
He was promoted because of his industry and honesty.
The processing of cotton is an important local industry.
Industrial (adj) refers to industries
This land is for industrial use.
He heard of the industrial dispute in his company.
Industrious (adj) means hard working.
John is an industrious student.
The Chinese are an industrious people.
Income tax. This tax was first introduced in Britain in 1799 by William Pitt to finance the Napoleonic War. It is a tax on all types of income – wages, rent, interest and profit.
Death duties. This is a tax that is imposed on the estate of a deceased person. It is a source of revenue and helps to redistribute the wealth of the rich through the government.
Revenue. It is the income of the state. It consists of the taxes on the profits of companies and the earnings of the people (direct taxes). A revenue is also derived from indirect taxes, taxes collected on some imported and manufactured goods.
Government controlled warehouse. This notion refers not only to government owned warehouses but also to privately owned warehouses which are supervised by the government.
Exercises
Answer the following questions.
What is a tax?
What does a state require money for?
What effect does excessive direct taxation have on people?
What is the national debt?
Give two examples of direct taxes.
Find in the text synonyms to the following words.
Obligatory. 2. Different. 3. Attentive. 4. Extra. 5. Web
Match the words from A with the definitions from B.
A.
1. Debt. 2. Claim. 3. Wages. 4. Order. 5. Law. 6. Haising. 7. Defence. 8. Revenue.
B.
1. The total annual income of a state.
2. A sum of money demanded for something done or lost.
3. Resistance against attack.
4. Payment made or received for work or services performed.
5. A condition brought about by a good and firm government.
6. Money that is owed
7. Dwellings provided for people.
8. Rules made by a government for the correct conduct of people in a country.
IV. Fill in the blanks with the derivatives of the word industry.
Employers value the qualities of honesty and _____ in their workers.
Government land is often leased to manufacturers for ______ use.
Employers dislike _____ disputes as they can lead to disruption of work.
Japanese workers are known to be _____.
Discussion on taxation
Part I
Mrs Smith |
Why do we have to pay taxes, dear? |
Mr Smith |
The government needs the revenue for carrying out its work. |
Mrs Smith |
Can’t it collect taxes from the rich? |
Mr Smith |
That is being done but it’s not enough. |
Mrs Smith |
What does the government do with the revenue? |
Mr Smith |
It uses the revenue to administer the state. |
Mrs Smith |
What are some of the services it provides? |
Mr Smith |
It provides education, housing, health and welfare services |
Mrs Smith |
Does it have other obligations? |
Mr Smith |
Yes, in some countries it even subsidises farming. |
Mrs Smith |
What kind of taxes do we pay? |
Mr Smith |
We pay direct and indirect taxes. |
Mrs Smith |
What is the difference between them? |
Mr Smith |
We pay direct taxes on our income. We pay taxes on some goods indirectly, through higher prices. |
Mrs Smith |
Can you quote an example? |
Mr Smith |
Yes, for example, when we buy cigarettes, the price includes the customs duty the importer has paid to the government. |
Mrs Smith |
Is this a good practice? |
Mr Smith |
Yes, but should indirect taxes be too high workers may demand higher salaries. |
Mrs Smith |
Then shouldn’t the government collect more direct taxes? |
Mr Smith |
If they are excessive, people may not want to work hard or save. |
Mrs Smith |
What’s the reason? |
Mr Smith |
They may think that too much of their earnings is being taken by the government. |
Mrs Smith |
What is the solution then? |
Mr Smith |
The government should collect taxes in moderation. |