1. TASK: Insert the appropriate word in the text below:
claim - file - imposed - іn kind - notarization
obligation - remitted - understatements - withholding
Personal Income Tax (Ukraine): Filing and payment
Filing and payment – Employers and other taxable entities are considered the tax agents of individuals, and are responsible for _____________ personal income tax and unified social security contributions from salaries and other remuneration, which must be _____________ by the tax agent before or at the time the income is paid (or on the following banking day if income is paid _____________.) The tax agent also is responsible for filing personal income tax reports on a quarterly basis.
If an individual receives taxable income from sources other than from a tax agent (e.g. foreign income), he/she must _____________ a personal income tax return by 1 May of the year following the reporting year, and pay the tax due by 1 August. Annual tax return filing also is required if an individual wishes to _____________ a tax credit for certain expenses incurred during the calendar year.
There is no filing _____________ if income is received entirely from Ukrainian tax agents; income is derived from the sale/exchange of real property or from gifts, and personal income tax has been paid during _____________ of such transactions; or income is derived from an inheritance that is taxed at the 0% rate.
Penalties – Penalties are _____________ for late payments and _____________.
2. CHECK YOUR SPEAKING
|
claim |
подавати заяву (на повернення переплати податків) | |
|
file |
[ faɪl ] |
подавати звіт в податкову |
|
imposed |
[ ɪmˈpəʊz ] |
обкладати |
|
in kind |
[ ɪn ] [ kaɪnd ] |
бартер |
|
notarization |
[ ˈnəʊ.tər.izei ʃən ] |
нотаріальне оформлення |
|
obligation |
[ ˌɒb.lɪˈɡeɪ.ʃən ] |
обов'язок |
|
remitted |
[ rɪˈmɪt ] |
перераховувати |
|
understatements |
[ ˌʌn.dəˈsteɪt.mənt ] |
заниження |
|
withholding |
[ wɪðˈhəʊld ] |
утримання |
3. SEE CORRECT ANSWER
Personal Income Tax (Ukraine): Filing and payment
Filing and payment – Employers and other taxable entities are considered the tax agents of individuals, and are responsible for withholding personal income tax and unified social security contributions from salaries and other remuneration, which must be remitted by the tax agent before or at the time the income is paid (or on the following banking day if income is paid in kind.) The tax agent also is responsible for filing personal income tax reports on a quarterly basis.
If an individual receives taxable income from sources other than from a tax agent (e.g. foreign income), he/she must file a personal income tax return by 1 May of the year following the reporting year, and pay the tax due by 1 August. Annual tax return filing also is required if an individual wishes to claim a tax credit for certain expenses incurred during the calendar year.
There is no filing obligation if income is received entirely from Ukrainian tax agents; income is derived from the sale/exchange of real property or from gifts, and personal income tax has been paid during notarization of such transactions; or income is derived from an inheritance that is taxed at the 0% rate.
Penalties – Penalties are imposed for late payments and understatements.
Цей та багато інших цікавих матеріалів Ви знайдете
в підручнику “Practical Financial English”
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