1. TASK: Insert the appropriate word in the text below:
gives up - retains - eliminate - taxable - arise
relieve - claim - source state - derived
A DTA is an arrangement entered into by the governments of two countries. It consists of a series of detailed provisions designed to ________ or ________ the taxation of the same income or gains in more than one country.
Full relief
Income or gains may be fully relieved from tax in the country where the income or gains ________. In other words, the ________ gives up all its taxing rights in favour of the country of which the recipient is a resident.
Partial relief
The country in which the income arises charges the income ________ by a resident of the other country at a rate lower than its normal domestic rate. In these circumstances the source state ________ only part of its taxing rights
Credit
Where the income or gains remain ________ in both countries, so that the source state ________ its taxing rights, the country in which the recipient is resident gives credit for the source country’s tax against its own tax. If you want to claim credit relief, you will have to make your ________ to your country of residence and not to us.
2. CHECK YOUR SPEAKING
|
claim |
[kleım] |
заява |
|
source state |
[sɔ:s] [steıt] |
країна походження доходів |
|
taxable |
[ʹtæksəb(ə)l] |
оподатковуваний |
|
to arise |
[əʹraız] |
виникати |
|
to derive |
[dıʹraıv] |
відбуватися |
|
to eliminate |
[ıʹlımıneıt] |
усувати, ліквідувати |
|
to give up |
[gıv] [ʌp] |
покидати |
|
to relieve |
[rıʹli:v] |
звільняти, послаблювати |
|
to retain |
[rıʹteın] |
зберігати, утримувати |
3. SEE CORRECT ANSWER
A DTA is an arrangement entered into by the governments of two countries. It consists of a series of detailed provisions designed to eliminate or relieve the taxation of the same income or gains in more than one country.
Full relief
Income or gains may be fully relieved from tax in the country where the income or gains arise. In other words, the source state gives up all its taxing rights in favour of the country of which the recipient is a resident.
Partial relief
The country in which the income arises charges the income derived by a resident of the other country at a rate lower than its normal domestic rate. In these circumstances the source state gives up only part of its taxing rights.
Credit
Where the income or gains remain taxable in both countries, so that the source state retains its taxing rights, the country in which the recipient is resident gives credit for the source country’s tax against its own tax. If you want to claim credit relief, you will have to make your claim to your country of residence and not to us.
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