TAXES

MATCH EACH DEFINIFITION ON THE RIGTH WITH A TERM FROM THE BOX. WRITE THE TERM BESIDE EACH DEFINITION.

CAPITAL GAINS TAX CORPORATION TAX CREATIVE ACCOUNTING EXCISE DUTY
INCOME TAX LOOPHOLE MONEY LAUNDERING PROGRESSIVE TAX TAX DEDUCTABLE
TAX EVASION TAX HAVEN TAX LOSS TAX SHELTER VALUE ADDED TAX

1. INCOME TAX PEOPLE PAY THIS TAX ON THE MONEY THEY EARN.
2. CORPORATION TAX COMPANIES PAY THIS TAX ON THEIRS PROFITS.
3. CAPITAL GAINS TAX PROFITS FROM THE SALE OF ASSETS MAY BE SUBJECT.
4. EXCISE DUTY GOVERNMENT TAX ON THINGS SUCH AS CIGARETTES, ALCOHOL AND PETROL.
5. PROGRESSIVE TAX THIS KIND OF TAX MEANS THAT THE MORE MONEY YOU EARN, THE HIGHER THE RATE OF TAX YOU HAVE TO PAY.
6. CREATIVE ACCOUNTING A CLEVER BUT STILL LEGAL WAY OF REDUCING THE AMOUNT OF TAX TO AN ABSOLUTE MINIMUM.
7. TAX HAVEN A COUNTRY SUCH AS LIECHTENSTEIN AND THE BAHAMAS WHERE TAX IS LOW.
8. LOOPHOLE A MISTAKE IN THE LAW WHICH ALLOWS PEOPLE TO AVOID PAYING TAX.
9. TAX DEDUCTABLE THESE PAYMENTS ARE NOT SUBJECT TO TAX.
10. TAX LOSS IN THE ACCOUNTS THE COMPANY IS SEEN TO MAKE THIS CAPITAL EXPENDITURE IS BROUGHT FORWARD TO USE UP PROFITS.
11. VALUE ADDED TAX THIS TAX IS ADDED TO THE PRICE OF GOODS AND SERVICES.
12. TAX EVASION AVOIDING PAYING TAX BY GIVING FALSE INFORMATION TO THE AUTHORITIES.
13. TAX SHELTER INVESTMENT SCHEMES WICH ALLOW PEOPLE TO POSTPONE PAYING TAX.
14. MONEY HANDLING MONEY MADE FROM ILLEGAL ACTIVITY.

SOURCE: POHL ALISON, PROFESSIONAL ENGLISH: ACCOUNTING, LESSON 29(SECTION 4: FINANCIAL ACCOUNTING).
REFLEXION: IN THIS ACTIVITY I DID LEARN A LESS MORE ABOUT VOCABULARY FOR MY MAJOR OF ACCOUNTING. IT WILL BE USED FOR ME AFTER.