Talking About
  Discover Through Learning
 Home  Links 19 Jun. 2018   
Language Holidays
Interpreting - Translation

Talking about Taxes...

"A fine is a tax for doing wrong. A tax is a fine for doing well."

Listen to tax - money paid to the government, which is based on your income or of the cost of goods or services you have bought
Listen to capital gains tax - tax on the profits made from selling something you own
Listen to corporation tax - tax paid by businesses on their profits
Listen to direct tax - the money that a person must pay to the government themselves, such as income tax, rather than through someone else
Listen to indirect tax - a tax charged on goods and services rather than on money that people earn
Listen to inheritance tax - a tax paid on money or property you have received from someone who has died
Listen to road tax - annual tax on motor vehicles that use public roads
Listen to sales tax - US a tax paid by people when they buy goods or services; value-added tax
Listen to sin tax - (informal) a tax on items such as cigarettes, alcohol, gambling and other things which are considered unnecessary luxuries in life; luxury tax
Listen to tax allowance - the amount of income on which you do not have to pay tax
Listen to tax-deductible - a sum that can be taken away from the total amount of income you must pay tax on
Listen to tax disc - a small round sign which you put in the corner of the front window of your car or other vehicle to show that you have paid the tax to use it
Listen to tax evasion - ways of illegally paying less tax than you should
Listen to tax exile - a wealthy person who lives outside his or her own country in order to minimise taxes
Listen to tax haven - a place where people pay less tax than they would pay if they lived in their own country
Listen to tax relief - the system of allowing someone not to pay tax on a part of their income
Listen to tax return - a form supplied by the government body (taxation authority) for the citizens to file with them the details of their income, expense, deductions, etc thereby computing the tax liability, within a specified date of the year
Listen to tax-exempt - not subject to tax by federal, state, and/or local authorities
Listen to after-tax - an amount (usually income) after taxes have been subtracted
Listen to before-tax income - income before taxes are deducted
Listen to liable to tax - subject to tax
Listen to tax bracket - the rate at which an individual is taxed
Listen to flat tax a system that taxes everyone at the same rate, regardless of their income bracket
Listen to progressive tax - a tax that takes a larger percentage from the income of high-income people than it does from low-income people

Now we put new vocabulary into context, so you can see how you might use these terms yourself. The expressions are in boldface in the text.

Listen to What do you earn after tax?

Listen to Luxury tax is a tax placed on products or services that are deemed to be unnecessary or non-essential.

Listen to Income and property taxes are good examples of direct taxes.

Listen to Employers can deduct the total cost of the gift from their taxes, and employees don't have to declare the cost of the gift as part of their taxable income.

Listen to A third of my income will go in tax.

Listen to Tax brackets are set based on income levels; individuals with lower income levels are taxed at a lower rate than individuals with higher income levels.

Listen to Supporters of a flat tax argue that it gives people incentive to earn more, because they wouldn't be penalized by graduating to a higher tax bracket.

Listen to Most income taxes are considered progressive.


   Imprint    Privacy Policy