Unit 9 Reading Activities Plus Questions

Read the following text and then complete the activities that follow.
US
UK

Taxes: Part One

In the 21st Century, the number of different taxes that we are obliged to pay has reached record levels which means as a society we are even less willing to pay them.

As well as income tax we are exposed to many other taxes including corporation tax, capital gains tax, consumption tax and property taxes. All of this can be too much to handle for an SME so accountants are often used to try to minimize the tax liability of a company.

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Quiz: Reading Questions

1. Accountants are used to minimize tax liabilities such as corporation, capital gains and consumption taxes.
2. Non-inventory assets can be deferred according to the anti-avoidance legislation.
3. Tax credit offsets the tax liability (Tax liability – tax credit = tax due)
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