Exercises:

I. Give the Ukrainian equivalents of the following words and phrases:

the object of taxation; compulsory payments; to charge; fiscal system; local taxes; tax allowance; a taxpayer; government expenditure; a personal income tax; to minimize taxes; customs duty; a value-added tax; an excise tax; tax authorities; national taxes; tax accounting; taxpayer’s income; tax legislation; residents and non-residents; the Customs Code; the Tax Code; equal treatment of all taxpayers by the law; unavoidability of legally established liability for violating the tax legislation; presumption of the legitimacy of decisions of a taxpayer; fiscal sufficiency; unified approach; fixed agricultural tax; convenience and uniformity of payments; taxpayer’s liability; a tax return; to stipulate; tax evasion; customs legislation; supervisory authorities; to perform out-of-schedule audits; single tax.

II. Give the English equivalents of the following words and phrases:

податкові пільги; акциз, акцизний податок; фіскальна політика; державні витрати; податок на доходи фізичних осіб; мито; податок на прибуток підприємств; податок на додану вартість; принцип соціальної справедливості; загальнодержавні податки; облік податків; податковий період; об'єкт оподаткування; збір за першу реєстрацію транспортного засобу; екологічний податок; ухилення від сплати податків; податковий обов'язок; ставка податку; екологічний податок; економічність; рентна плата; фіксований сільськогосподарський податок; збір за спеціальне використання лісових ресурсів; накладати стягнення, штраф; цільова надбавка; єдиний податок; податкова база.

III. Use the appropriate term or terms from the text to complete each of the following statements:

1. The purpose of _____is to finance government expenditure.

2. _____ are compulsory payments charged from businesses and individuals to the budget.

3. _____ _____ means government efforts to keep the economy stable.

4. The source of tax payments is the _____ _____.

5. Ukrainian _____ _____ consists of the Constitution of Ukraine, the Tax Code, the Customs Code, and other Customs Acts relating to export and import taxes.

6. The _____ _____ regulates relationships in paying of taxes and duties.

7. Tax computation is under strict scrutiny of _____ _____.

8. _____ ____ are payments with the same mechanism of performance all over the territory of Ukraine.

9. Every business tries to _____ its taxes.

10. Many features of _____ are the same in many countries.

IV. True-False. Say whether each of the following statements is true or false. Can you correct the false statements?

1. Taxes are compulsory payments charged from businesses and individuals to the budget.

2. The source of tax payments is the taxpayer’s income.

3. Taxes are established for financing private businesses expenditure.

4. Every business tries to maximize its taxes.

5. National taxes are payments with different mechanism of performance all over the territory of Ukraine.

6. Tax computation is under strict scrutiny of supervisory authorities.

7. The size of tax allowance doesn’t vary according to the person’s circumstances.

8. A taxpayer presents to the tax authorities a tax return.

9. The tax authorities may carry out scheduled audits a maximum of once each year.

10. A clear and friendly tax environment is the cornerstone upon which the investment climate in Ukraine will flourish to its full potential.

11. Fiscal policy means government efforts to keep the economy stable.