1. TASK: Insert the appropriate word in the text below:
arise - work assignment - afford - implications - eliminate
The tax problems associated with sending employees overseas once existed only for a small number of businesses; namely, those companies which could _________ to send their employees to distant shores. However, in recent years, the practice of sending employees abroad has proven to be increasingly practical. As a result, the importance of executives carefully studying the challenges involved with sending employees out of the country has never been greater. There are many business _________ involved with international _________, taxes being one of the most important.
Double Taxation
Many employers believe that tax exposure problems can be reduced or _________ altogether if the employee spends less than 183 days in the host location. Although many tax treaties support this assumption, it is inaccurate. The Organization for Economic Cooperation and Development (OECD) has released a list of principles which state that the primary goal should be to avoid double taxation. The Model Tax Convention sponsored by OECD was designed to develop a common platform on which to solve problems that _________ from double taxation causes.
2. CHECK YOUR SPEAKING
|
afford |
[əʹfɔ:d] |
дозволити собі |
|
implications |
[͵ımplıʹkeıʃ(ə)n] |
фінансові наслідки |
|
work assignment |
[wɜ:k] [əʹsaınmənt] |
відрядження |
|
eliminate |
[ıʹlımıneıt] |
усувати |
|
arise |
[əʹraız] |
виникати |
3. SEE CORRECT ANSWER
The tax problems associated with sending employees overseas once existed only for a small number of businesses; namely, those companies which could afford to send their employees to distant shores. However, in recent years, the practice of sending employees abroad has proven to be increasingly practical. As a result, the importance of executives carefully studying the challenges involved with sending employees out of the country has never been greater. There are many business implications involved with international work assignments, taxes being one of the most important.
Double Taxation
Many employers believe that tax exposure problems can be reduced or eliminated altogether if the employee spends less than 183 days in the host location. Although many tax treaties support this assumption, it is inaccurate. The Organization for Economic Cooperation and Development (OECD) has released a list of principles which state that the primary goal should be to avoid double taxation. The Model Tax Convention sponsored by OECD was designed to develop a common platform on which to solve problems that arise from double taxation causes.
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