Английский язык. Цыбина Е.А - 56 стр.

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УлГТУ | Ульяновск

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56
Public finance
The government collects money from citizens through taxes. Income tax is the
tax collected on wages and salaries. Inheritance tax is collected on what people inherit
from others. Customs or excise duties have to be paid on goods imported from other
countries. VAT or value added tax is a tax paid on most goods and services when they
are bought or purchased. Companies pay corporation tax on their profits. If you pay
too much tax, you should be given some money back, a tax rebate.
The government also sometimes pays out money to people in need, e.g.
unemployment benefit [also known as the dole, informal] disability allowances and
student loans [money lent to help pay for studying]. Recipients draw a pension /
unemployment benefit or are on the dole or on social security.
Every country has its own special currency. Every day the rates of exchange are
published and you can discover, for example, how many dollars there are currently to
the pound sterling.
A company may sell shares to members of the public who are then said to have
invested in that company. They should be paid a regular dividend on their investment,
depending on the profit or loss made by the company.
***
27. Answer the following money quiz.
1 What currencies are used in Japan, Australia, India and Russia?
2 What does the expression ‘hard currency’ mean?
3 Give two examples of imports that most countries impose customs duties on.
4 Give three examples of kinds of income that would be classed as unearned.
5 What is the Dow Jones index and what are its equivalents in London and Japan?
6 Give an example of something that is priceless and something that is valueless.
7 Name the coins and banknotes used in your country and one other country.
28. Match the words with their definitions.
1 interest
2 mortgage
3 an overdrawn account
4 savings account
5 current account
6 pension
7 disability allowance
8 child benefit
9 inheritance tax
a bank account with a negative sum of money in it
money paid towards the cost of raising a family
money paid on what is inherited after someone dies
an account that is used mainly for keeping money

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