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Money laundering regulations (нормативно-правові акти) and the effect on international tax and financial planning.

  1. A. 1. Read and translate the following international words
  2. A. 1. Translate the following international words
  3. A. Let your partners offer the tip; this will save your money
  4. Accounting and Financial Statements
  5. ACCOUNTING AND FINANCIAL STATEMENTS
  6. Artemis Views, виробник - Artemis International
  7. Avantages de respecter le droit international humanitaire

It has become quite apparent that, due to the introduction of new tough US laws and European Union directives against money laundering, this will have an effect on international tax and financial planning, as there is an enormous pressure on tax havens and other low-tax jurisdictions to respond to various international initiatives to combat money laundering, otherwise they will be blacklisted (Потраплять в чорний список).

To be successful, it is necessary to be in line with international standards and have a high level of banking supervisory and regulatory standards (Відповідність міжнародним стандартам якості, строгість нагляду за банківською діяльністю і регламентують її норм / високі стандарти банківського нагляду і регулювання) which apply to the international banking and financial services sectors.

The current climate shows that there will be a shift in international tax and financial planning to those respectable, safe, reputable jurisdictions that have in place not only a high level of banking supervisory and regulatory standards and strict money laundering laws, but also to those that have an extensive network of Double Tax Treaties (Договори про уникнення подвійного оподаткування) with other countries and offer low tax rates (Низькі ставки оподаткування) and other tax incentives(податкові пільги). One should not operate anywhere but these safe jurisdictions.

5. Double Tax Treaties are an important product of the efforts made worldwide to promote and stimulate international trading and investment activities. An international enterprise doing business in more than one tax jurisdiction significantly increases the cost of its operations (Підвищення вартості витрат / вартості діяльності підприємства). To remedy this, many countries have concluded bilateral agreements (Уклали двосторонні договори), called Double Tax Treaties, for the allocation of fiscal jurisdiction (Визначення податкової юрисдикції). More specifically, the objectives of Double Tax Treaties are to clarify and determine the taxing rights of each contracting country (Країни-учасниці Договору), to reduce or avoid double taxation and to introduce mechanisms to prevent tax evasion.

Ex3. Decipher the following abbreviations and translate the resulting terms / terminological collocations. Make use of specialized dictionaries. Explain the meanings of (1) the English terms in Russian and (2) the Russian terms in English for other students to translate in class.

1) VAT, CGT, GST, CTT, IHT, TESSA, TIN, TDA, TAB, TAN, GAAP, FASB, OECD, IMF, EITC, HMRC, EBITDA, SE, EPT, AMT, EAT, IRS.

2) ПДФО, ФОП, ФНС, НДПІ, ПДВ, ІПН, ЄСП, ВОНА, НК РФ.

Ex.4. Look up the meaning of the terms below in specialized dictionaries. Insert the terms into the blank spaces in the text. Summarize the information both in English and in Russian.

Terms: a) higher tax brackets; b) indexed to inflation; c) effective tax increases; d) collected; e) federal payroll taxes; f) the amount of tax withheld; g) expected annual salary; h) refunded by the government; i) individual income; j) underpayment of estimated tax; k) impose tax on their citizens; l) taxable income; m) double taxation; n) income limits; o) tax deductions or tax credits; p) spending from the account; q) receipts.

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IPO в Росії. Перспективи розвитку ринку | Initial Public Offering (IPO) | Vocabulary notes | Ex.1. Match the terms with their definitions. | Ex.4. Match up two halves of the following sentences from the text. Translate them into Russian. | Legal Aspects of IPOs in Russia in 2008 | Study the information below making sure you fully comprehend its subject matter. Compare the highlighted contextual equivalents. | Assignment 1 | Listen to the audio recording and interpret the interview simultaneously. | Vocabulary notes |

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