1. TASK: Insert the appropriate word in the text below:
aid - alienation - at - behalf - charities - contributions - exempt - file
in kind - proceeds - remuneration - return - source - taxable - taxed
Personal Income Tax (Ukraine)
Basis – Residents are _____________ on their worldwide income. Nonresidents are taxed only on Ukrainian-_____________ income.
Filing status – Joint filing is not allowed in Ukraine; each individual must _____________ his/her own _____________.
Taxable income – Income is taxable whether obtained in cash or _____________. Taxable income includes employment income (including in-kind benefits); _____________ from trading or professional activities (including proceeds from intellectual property); proceeds from the _____________ of property; gifts and prizes; insurance payments; dividends and interest; investment income; and contributions to unqualified pension plans made on _____________ of a taxpayer by another person/employer.
Deductions and allowances – Deductions are available for social security _____________, mortgage interest (for real estate located in Ukraine), contributions to listed _____________, educational expenses for the taxpayer and his/her immediate relatives and medical expenses (limited amounts).
Rates – The general personal income tax rate applied to employment income is 18%.
There are number of specific income types _____________ from personal income tax (i.e. interest on government bonds, state _____________ for low income families, etc.).
A temporary military duty of 1.5% of taxable personal income applies to salary, other incentive and compensatory payments and other benefits and _____________ accrued (paid or provided) to a taxpayer.
Dividend income obtained by resident individuals from resident entities is taxed _____________ a rate of 5%. Other passive income is _____________ at 18%.
Tax year – Calendar year.
2. CHECK YOUR SPEAKING
|
aid |
[ eɪd ] |
допомога |
|
alienation |
[ ˌeɪ.li.əˈneɪ.ʃən ] |
відчуження |
|
at |
[ ət ] |
у |
|
behalf |
[ bɪˈhɑːf ] |
від імені |
|
charities |
[ ˈtʃær.ɪ.ti ] |
благодійні організації |
|
contributions |
[ ˌkɒntrɪˈbjuːʃn ] |
вклади |
|
exempt |
[ ɪɡˈzempt ] |
звільнений |
|
file |
[ faɪl ] |
здавати звіт в податкову |
|
in kind |
[ ɪn ] [ kaɪnd ] |
бартер |
|
proceeds |
[ prəˈsiːd ] |
доходи від продажів |
|
remuneration |
[ rɪˌmjuː.nərˈeɪ.ʃən ] |
винагорода |
|
return |
[ rɪˈtɜːn ] |
декларація |
|
source |
[ sɔːs ] |
джерело |
|
taxable |
[ ˈtæk.sə.bl̩ ] |
оподатковуваний |
|
taxed |
[ tækst ] |
обкладатися податком |
3. SEE CORRECT ANSWER
Personal Income Tax (Ukraine)
Basis – Residents are taxable on their worldwide income. Nonresidents are taxed only on Ukrainian-source income.
Filing status – Joint filing is not allowed in Ukraine; each individual must file his/her own return.
Taxable income – Income is taxable whether obtained in cash or in kind. Taxable income includes employment income (including in-kind benefits); proceeds from trading or professional activities (including proceeds from intellectual property); proceeds from the alienation of property; gifts and prizes; insurance payments; dividends and interest; investment income; and contributions to unqualified pension plans made on behalf of a taxpayer by another person/employer.
Deductions and allowances – Deductions are available for social security contributions, mortgage interest (for real estate located in Ukraine), contributions to listed charities, educational expenses for the taxpayer and his/her immediate relatives and medical expenses (limited amounts).
Rates – The general personal income tax rate applied to employment income is 18%.
There are number of specific income types exempt from personal income tax (i.e. interest on government bonds, state aid for low income families, etc.).
A temporary military duty of 1.5% of taxable personal income applies to salary, other incentive and compensatory payments and other benefits and remuneration accrued (paid or provided) to a taxpayer.
Dividend income obtained by resident individuals from resident entities is taxed at a rate of 5%. Other passive income is taxed at 18%.
Tax year – Calendar year.
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в підручнику “Practical Financial English”
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