Finance and financial system

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1.     The company was created by two very motivated young men in the early 1900s.
2.     Applicants must write their names on the top page of the exam paper. How many candidates are there for the job?
3.     The government's image has already been harmed by a series of scandals.
4.     She has enough spell or fascination to win anyone over.
5.     I'm developing a relationship with the president of the company for which I want to work when I graduate.
6.     The doctor says there's no risk of contagion.
7.     This month's sales data offer a glimmer of hope for the depressed economy.
8.     Michelangelo was one of the greatest personages of the Renaissance.
9.     Can you read this number? Is it a three or an eight?
10. He punished the class by giving them additional or supplementary work.
11. They will take vigorous action to recover the debts.
12. They were eager supporters of the president.
13. She studied her reflection in the mirror.
14. She inherited a very large amount of money from her grandmother.
Task 3. Give the Russian equivalents of the following:
a) protection of economic interests;
b) to protect domestic production from foreign competition;
c) to obtain revenue;
d) the physical quantity of the goods;
e) is charged by weight;
f) the proportionate value of dutiable ingredients;
g) final consumption of the goods and services;
 Text 1.
Historically there have been three types of tariffs:transit, export and import.The most significant of these are  import tariffs which are classified as either protective or revenue. Protective tariffs are designed to protect domestic industries and agriculture from foreign competition by raising the price of imported goods. Revenue tariffs are designed to obtain revenue and provide a major source of income for the federal government. These two types are closely related. Protective tariffs raise revenue and revenue tariffs give some protection to domestic producers.
There is one more type of tariff – a preferential tariff. It is an import duty, at especially low rate, which is applied in respect of goods imported from a country that is being favored. Usually preferential tariff is exchanged exclusively within the countries of the customs union and is not extended to outside countries.
The amount of tax collected is called the customs duty. If the duty is imposed according to the physical quantity of the goods (per ton, per meter, per item, etc.), it is called specific duty. When the duty is charged by weight, it is calculated of the net weight of the article excluding the weight of any container.
If they are levied according to the value of the goods, they are known as ad valorem* duties. When an article contains more than one ingredient, the duty is calculated on the proportionate value of the dutiable ingredients. For ad valorem duty the value of an article is assessed according to the price of the article on the open market. This value includes freight, insurance, commission, packing, containers and other costs.
VAT (Value Added Tax) is an indirect tax on the final consumption of goods and services in the home market.
The excise tax is levied on most imported items considered luxury goods, such as cars, jewelry, alcohol and tobacco.
Goods will be released only after the payment of duties. In the Russian Federation all Customs duties are payable both in Russian and foreign currencies. Payments are accepted in cash and by cheque.
* Ad valorem is a Latin term meaning “according to the value”.
Task 4 . Write out from the text: a) all international words;b) economic terms.
 
Task 5. Find in the text the English equivalents of the following:
обеспечение поступления налоговых сборов в государственный бюджет; основная функция таможни; применять; взимать; отечественный производитель; иностранные конкуренты; обеспечить источник дохода; налагать; количество; начислять; чистый вес; стоимость товара; транспортировка; страховка; иностранная валюта; НДС; косвенный налог; потребление

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