Most of the money run the Government comes from taxes ofall sort – on personal and corporate income, on sales of goods,on imports and on inheritances. The ultimate source of all taxmoney is the same – peopleThe primary function of taxation is, of course, to raise revenueto finance government expenditure, but taxes can also haveother purposes. Indirect excise duties, for example, can bedesigned to dissuade people from smoking, drinking alcohol,and so on. Governments can also encourage capitalinvestment by permitting various methods of accelerateddepreciation accounting that allow companies to deduct moreof the cost of investments from their profits, and consequentlyreduce their tax bills.
TAXATION Group Vocabulary • • • • • • • • • • • • • • Tax (n) [taeks] : a compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions – thuế Impose (v) /im'pouz/ : to establish or apply as compulsory Taxation (n) /tæk'seiʃn/ : the act or principle of levying taxes or the condition of being taxed Tax evasion : the illegal nonpayment or underpayment of tax Inheritance (n) /in'heritəns/ : a thing that is inherited Dissuade (v) /di'sweid/ : persuade (someone) not to take a particular course of action Deduct (v) /di'dʌkt/ : subtract or take away (an amount or part) from a total Progressive tax (n) : income tax that takes a larger percentage of a larger income and a smaller percentage of a smaller income Tax liability (n) : debt to a government incurred by a tax payer as accrued or asessed taxes Tax bill (n) : money owed for taxes Loophole (n) /loo͞opˌ(h)ōl/ : a means of escape or evasion Tax shelter (n) : A financial arrangement, such as the use of special depletion allwances, that reduces taxes on current earnings Tax inspector (n) : an official responsible for assessing and collecting income tax and some other taxes Regressive tax (n): taxation that takes a larger percentage of a lower income and a smaller percentage of a higher income VOCABULARY EXERCISES Find words in the text that mean the following reducing the value of a fixed asset, by charging Depreciation it against profits Disincentive something which discourages an action Regressive an adjective describing a tax that is proportionally higher for people with less money Consumption Self-employed spending money to buy thugs, rather than saving it working for yourself, being your own boss a tax on incomes that pays for sickness benefit, unemployment benefit, and old-age pensions National insurance Perks Tax-Shelter non-financial benefits or advantages of a job a way to delay the payment of tax on a later time an adjective describing expenditures that can be taken away from taxable income or profits Tax-deductible Tax haven businesses 10 a company offering very low tax rates to foreign VOCABULARY EXERCISES Which terms the following sentences define? The tax people pay on their wages and salaries is called A capital transfer tax B income tax C wealth tax Answer: B (Thuế thu nhập cá nhân) A tax on wages and salaries or on company profits is a/an A direct tax B indirect tax C value-added tax Answer: A (Thuế trực thu) A tax levied at a higher rate on higher incomes is called a progressive tax AAnswer: A (Thuế lũy tiến) B regressive tax C wealth tax A tax paid on property, sales transactions, imports, and so on is a/an direct tax AAnswer: B (Thuế gián thu) B indirect tax C value-added tax A tax collected at each stage of production, excluding the already-taxed costs from previous stages, is called a/an added-value tax AAnswer: C (Thuế giá trị gia tăng) B sales tax C value-added tax VOCABULARY EXERCISES Which terms the following sentences define? Profits made by selling assets are generally liable to a A capital gains tax B capital transfer tax C wealth tax Answer: A (Thuế thặng dư vốn) Gifts and inheritances over a certain value are often liable to a A capital gains tax B capital transfer tax C wealth tax Answer: B (Thuế chuyển nhượng vốn) The annual tax imposed on people’s fortunes (in some countries) is a/an A added-value tax B capital transfer tax C wealth tax Answer: C ( Thuế tài sản) Making false declarations to the tax authorities is called A fiscal policy B tax avoidance C tax evasion Answer: C (Trốn thuế) (illegal) 10 Reducing the amount of tax you pay to a legal minimum is called A creative accounting Answer: B ( Tránh thuế ) (Legal) B tax avoidance C tax evasion READING Most of the money run the Government comes from taxes of all sort – on personal and corporate income, on sales of goods, on imports and on inheritances The ultimate source of all tax money is the same – people The primary function of taxation is, of course, to raise revenue to finance government expenditure, but taxes can also have other purposes Indirect excise duties, for example, can be designed to dissuade people from smoking, drinking alcohol, and so on Governments can also encourage capital investment by permitting various methods of accelerated depreciation accounting that allow companies to deduct more of the cost of investments from their profits, and consequently reduce their tax bills Translate Most of the money run the Government comes from taxes of all sort – on personal and corporate income, on sales of goods, on imports and on inheritances The ultimate source of all tax money is the same – people A The primary function of taxation is, of course, to raise revenue to finance government expenditure, but taxes can also have other purposes Indirect excise duties, for example, can be designed to dissuade people from smoking, drinking alcohol, and so on Governments can also encourage capital investment by permitting various methods of accelerated depreciation accounting that allow companies to deduct more of the cost of investments from their profits, and consequently reduce their tax bills Phần lớn nguồn thu để phủ hoạt động đến từ loại thuế - thuế thu nhập cá nhân doanh nghiệp, thuế doanh thu bán hàng, thuế nhập tài sản thừa kế.Người dân đối tượng chịu thuế cuối tất loại thuế Chức chủ yếu thuế tất nhiên phục vụ cho hoạt động chi tiêu phủ, nhiên việc đánh thuế có mục đích khác Ví dụ thuế tiêu thụ đặc biệt gián tiếp thiết kế để khiến người dân giảm tiêu thụ thuốc lá, rượu bia, vân vân Chính phủ khuyến khích gia tăng vốn đầu tư cách hợp pháp hoá nhiều phương pháp khấu hao nhanh cho phép công ty khấu trừ nhiều chi phí đầu tư từ lợi nhuận, từ giảm mức thuế phải chịu Translate Most of the money run the Government comes from taxes of all sort – on personal and corporate income, on sales of goods, on imports and on inheritances The ultimate source of all tax money is the same – people A The primary function of taxation is, of course, to raise revenue to finance government expenditure, but taxes can also have other purposes Indirect excise duties, for example, can be designed to dissuade people from smoking, drinking alcohol, and so on Governments can also encourage capital investment by permitting various methods of accelerated depreciation accounting that allow companies to deduct more of the cost of investments from their profits, and consequently reduce their tax bills T The primary function of taxation is, of course, to raise revenue to finance government expenditure, but taxes can also have other purposes Indirect excise duties, for example, can be designed to dissuade people from smoking, alcohol, and so on 1.drinking Taxes can be designed both to discourage and to encourage spending Reading • There is always a lot of debate as to the fairness of tax system Business profits, for example, are generally taxed twice: company pay tax on their profits (corporation tax in Britain, income tax in the USA), and the shareholders pay income tax on dividends Income taxes in most countries are progressive, and are one of the ways in which governments can redistribute wealth The problem with progressive taxes is that the marginal rate – the tax people pay on any additional income – is always high, which is generally disincentive both working and investing On the other hand, most sales taxes are slightly regressive, because poorer people need to spend a larger proportion of their income on consumption than the rich Translate B There is always a lot of debate as to the fairness of tax system Business profits, for example, are generally taxed twice: company pay tax on their profits (corporation tax in Britain, income tax in the USA), and the shareholders pay income tax on dividends Income taxes in most countries are progressive, and are one of the ways in which governments can redistribute wealth The problem with progressive taxes is that the marginal rate – the tax people pay on any additional income – is always high, which is generally disincentive both working and investing On the other hand, most sales taxes are slightly regressive, because poorer people need to spend a larger proportion of their income on consumption than the rich Ln ln có nhiều tranh cãi tính cơng hệ thống đánh thuế Ví dụ : lợi nhuận kinh doanh thường bị đánh thuế lần: công ty chịu thuế lợi nhuận( thuế doanh nghiệp Anh, thuế thu nhập Mỹ), cổ đông chịu thuế cổ tức Hầu hết quốc gia thực đánh thuế thu nhập luỹ tiến, cách để phủ phân phối lại cải xã hội.Vấn đề với thuế thu nhập luỹ tiến thuế suất biên – phần thuế mà người dân phải chịu nguồn thu nhập khác – ln ln cao, điều kìm hãm phát triển sản xuất đầu tư Mặt khác, hầu hết loại thuế bán hàng thuế luỹ thối, so với người giàu người nghèo thường phải giành tỉ lệ lớn từ thu nhập họ cho sinh hoạt phí Translate B There is always a lot of debate as to the fairness of tax system Business profits, for example, are generally taxed twice: company pay tax on their profits (corporation tax in Britain, income tax in the USA), and the shareholders pay income tax on dividends Income taxes in most countries are progressive, and are one of the ways in which governments can redistribute wealth The problem with progressive taxes is that the marginal rate – the tax people pay on any additional income – is always high, which is generally a disincentive to both working and investing On the other hand, most sales taxes are slightly regressive, an because poorer people need to spend a larger proportion of their income on consumption than the rich T Business profits, for example, are generally taxed twice: company pay tax on their profits (corporation tax in Britain, income tax in the USA), and the pay income on dividends shareholders The same amount oftax money can be taxed more than once Progressive taxes may discourage people from working T The problem with progressive taxes is that the marginal rate – the tax extra hours people pay on any additional income – is always high, which is generally a disincentive to both working and investing Sales taxes are unfair because poor people spend more than the rich F Most sales taxes are slightly regressive, because poorer people need to spend a larger proportion of their income on consumption than the rich READING The higher the tax rate, the more people are tempted to cheat, but there is a substantial ‘black’ or ‘underground’ economy nearly everywhere In Italy, for example, self-employed people – whose income is more difficult to control than that of company employees – account for more than half national income Lots of people also have undeclared part-time evening jobs (some people call this ‘moonlighting’) with small and medium-sized family firms, on which no one pays any tax or national insurance At the end of 1996, the Director of the Italian National Institute of Statistics calculated the size of the underground economy, and added 16,7% to Italy’ gross national product (GNP) figure, and then claimed that Italy had overtaken Britain to become the world’s fifth largest economy To reduce income tax liability, some employers give highly-paid employees lots of ‘perks’ (short of perquisites) instead of taxable money, such as company cars, free health insurance, and subsidized lunches Legal ways of avoiding tax, such as these, are known as loopholes in tax law Life insurance policies, pension plans and other investments by which individuals can postpone the payment of tax, are known as tax shelters Donations to charities that can be subtracted from the income on which tax, is calculated are described as tax-deductible Translate C The higher the tax rate, the more people are tempted to cheat, but there is a substantial ‘black’ or ‘underground’ economy nearly everywhere In Italy, for example, self-employed people – whose income is more difficult to control than that of company employees – account for more than half national income Lots of people also have undeclared part-time evening jobs (some people call this ‘moonlighting’) with small and medium-sized family firms, on which no one pays any tax or national insurance At the end of 1996, the Director of the Italian National Institute of Statistics calculated the size of the underground economy, and added 16,7% to Italy’s gross national product (GNP) figure, and then claimed that Italy had overtaken Britain to become the world’s fifth largest economy Thuế suất cao có nhiều người tìm cách trốn thuế, nhiên có phận lớn kinh tế gọi ‘thị trường đen’ hay ‘kinh tế ngầm’ xuất khắp nơi Ví dụ Ý, người tự kinh doanh – sở hữu nguồn thu nhập khó kiểm sốt so với nhân viên làm thuê – thường sở hữu nửa thu nhập quốc dân Rất nhiều người làm công việc bán thời gian vào buổi tối không khai báo (hay gọi cơng việc ngồi giờ) hay sở hữu doanh nghiệp gia đình cỡ vừa nhỏ mà khơng đóng khoản thuế hay bảo hiểm Vào cuối năm 1996, Giám đốc Viện thống kê quốc gia Ý nghiên cứu quy mô kinh tế ngầm, cộng thêm 16,7% vào tổng sản lượng quốc gia (GNP) Italia, từ tuyên bố Ý vượt qua Anh để trở thành kinh tế lớn thứ năm giới Translate C The higher the tax rate, the more people are tempted to cheat, but there is a substantial ‘black’ or ‘underground’ economy nearly everywhere In Italy, for example, self-employed people – whose income is more difficult to control than that of company employees – account for more than half national income Lots of people also have undeclared part-time evening jobs (some people call this ‘moonlighting’) with small and medium-sized family firms, on which no one pays any tax or national insurance At the end of 1996, the Director of the Italian National Institute of Statistics calculated the size of the underground economy, and added 16,7% to Italy’s gross national product (GNP) figure, and then claimed that Italy had overtaken Britain to become the world’s fifth largest economy T At the end of 1996, the Director of the Italian National Institute of Statistics calculated the size of the underground economy, and added 16,7% to Italy’ gross national product (GNP) figure… The Italian government knows that about one seventh of national income escapes taxation Translate D To reduce income tax liability, some employers give highly-paid employees lots of ‘perks’ (short of perquisites) instead of taxable money, such as company cars, free health insurance, and subsidized lunches Legal ways of avoiding tax, such as these, are known as loopholes in tax law Life insurance policies, pension plans and other investments by which individuals can postpone the payment of tax, are known as tax shelters Donations to charities that can be subtracted from the income on which tax, is calculated are described as tax-deductible Để giảm gánh nặng thuế thu nhập, số công ty trả cho nhân viên có thu nhập cao khoản ‘thù lao đặc biệt’ (kiểu bổng lộc) thay trả lương tiền phải chịu thuế thu nhập, ví dụ xe cơng ty, bảo hiểm y tế miễn phí, ăn trưa miễn phí,… Những kiểu trả lương gọi lách luật thuế cách hợp pháp Các sách bảo hiểm nhân thọ, bảo hiểm hưu trí loạt khoản đầu tư khác cá nhân sử dụng để trì hỗn việc nộp thuế gọi chỗ dựa để tránh thuế Các khoản đóng góp cho quỹ từ thiện trích từ thu nhập bị đánh thuế tính khoản giảm trừ thuế Translate F Legal ways of avoiding tax, such as these, are known as D To reduce income tax liability, some employers give highly-paid employees lots of ‘perks’ (short of perquisites) instead of taxable money, such as company cars, free health insurance, and subsidized lunches Legal ways of avoiding tax, such as these, are known as loopholes in tax law Life insurance policies, pension plans and other investments by which individuals can postpone the payment of tax, are known as tax shelters Donations to charities that can be subtracted from the income on which tax, is calculated are described as tax-deductible loopholes in tax law “Loopholes” are a common form of tax evasion If you pay a lot of your income into a pension fund or a life insurance policy you never have to pay tax on it F Life insurance policies, pension plans and other investments by which individuals can postpone the payment of tax, are known as tax shelters READING Companies have a variety ways of avoiding tax on profits They can bring forward capital expenditure (on new factories, machines, and so on) so that at the end of the year all of the profits have been used up; this is known as making a tax loss Multinational companies often set up their head offices in countries such as Monaco, the Cayman Islands, and the Bahamas, where taxes are low, such countries are known as tax heavens Criminal organizations, meanwhile, tend to pass money through a series of companies in very complicated transaction in order to disguise its origin from tax inspectors- and the police; this is known as laundering money Translate E Companies have a variety ways of avoiding tax on profits They can bring forward capital expenditure (on new factories, machines, and so on) so that at the end of the year all of the profits have been used up; this is known as making a tax loss Multinational companies often set up their head offices in countries such as Monaco, the Cayman Islands, and the Bahamas, where taxes are low, such countries are known as tax heavens Criminal organizations, meanwhile, tend to pass money through a series of companies in very complicated transaction in order to disguise its origin from tax inspectors- and the police; this is known as laundering money Các doanh nghiệp sử dụng nhiều cách khác để trốn thuế thu nhập Họ luân chuyển vốn sớm (xây dựng phân xưởng mới, mua máy móc mới,…) vào cuối năm kinh doanh, tất lợi nhuận sử dụng hết, trình giống việc khai báo lỗ để giảm thuế Các doanh nghiệp tồn cầu thường đặt trụ sở họ quốc gia đánh thuế thấp Monaco, Quần đảo Cayman, Bahamas, quốc gia biết đến thiên đường tránh thuế Trong tổ chức tội phạm thường chuyển tiền qua loạt công theo phương thức tinh vi để che đậy nguồn gốc khoản tiền, qua mặt nhân viên thuế quan cảnh sát; cách thức gọi rửa tiền Translate E Companies have a variety ways of avoiding tax on profits They can bring forward capital expenditure (on new factories, machines, and so on) so that at the end of the year all of the profits have been used up; this is known as making a tax loss Multinational companies often set up their head offices in countries such as Monaco, the Cayman Islands, and the Bahamas, where taxes are low, such countries are known as tax heavens Criminal organizations, meanwhile, tend to pass money through a series of companies in very complicated transaction in order to disguise its origin from tax inspectors- and the police; this is known as laundering money 8 FA They can bring forward capital expenditure (on new company that makes an unusually large factories, machines, andyear so on) so that at quickly the end of the year profit during a tax might decide to spend it, for example, on a new factory or all of the profits have been used up; this is known as making equipment a tax loss SUMMARY A – The primary function of taxation is to raise revenue to finance government expenditure – These other purposes are dissuading people from smoking and drinking alcohol; and encouraging capital investment B – There is always a lot of debate as to the fairness of tax system ( Business profits are generally – Progressive taxes: + One of the ways in which governments can redistribute wealth + Problem is the marginal rate is always high – Regressive taxes: Most sales taxes are slightly regressive C – ‘Black’ or ‘underground’ economy nearly everywhere – Self-employed people account for more than a half of national income but are more difficult to control than that of company employees D – Companies use ‘perk’ (short of perquisites) to pay the highly-paid employees instead of – Tax shelters: + Life insurance polices + Pension plans + Other investments – Donations to charities are described as tax-deductible E – Various ways of tax evasion: + Bringing forward capital expenditure (making a tax loss) + Setting up the head offices in countries known as tax havens + Laundering money: Passing money through a series of companies in very complicated transactions taxed twice,…) taxable money Thanks for Listening ... the rich Ln ln có nhiều tranh cãi tính cơng hệ thống đánh thuế Ví dụ : lợi nhuận kinh doanh thường bị đánh thuế lần: công ty chịu thuế lợi nhuận( thuế doanh nghiệp Anh, thuế thu nhập Mỹ), cổ... lớn nguồn thu để phủ hoạt động đến từ loại thuế - thuế thu nhập cá nhân doanh nghiệp, thuế doanh thu bán hàng, thuế nhập tài sản thừa kế.Người dân đối tượng chịu thuế cuối tất loại thuế Chức chủ... người dân giảm tiêu thụ thuốc lá, rượu bia, vân vân Chính phủ khuyến khích gia tăng vốn đầu tư cách hợp pháp hoá nhiều phương pháp khấu hao nhanh cho phép cơng ty khấu trừ nhiều chi phí đầu tư