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English for Tax Administration Study 4

English for Tax Administration Study 4. Lecturer: Miljen Matijašević e-mail: miljen.matijasevic @ gmail.com G10, room 6, Wed 11:00-12:00 Session 4. Today’s Session. Revision of the previous session Taxation in the European Union Vocabulary and Practice.

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English for Tax Administration Study 4

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  1. English for Tax Administration Study 4 Lecturer: Miljen Matijašević e-mail: miljen.matijasevic@gmail.com G10, room 6, Wed11:00-12:00 Session4

  2. Today’s Session • Revision of the previous session • Taxation in the European Union • Vocabulary and Practice

  3. Economic and Monetary Union and the Euro Revision of the previous session

  4. Revision – Emu AND THE EURO • When was the EMU set up? • Who makes part of the EMU? • Who is Jacques Delors and what was his role in the setting up of the EMU? • Why was the Treaty of Maastricht important for the EMU? • Who opted out of the EMU? • What is the Euro Group and what decision made it possible? • What are the benfits of the EMU?

  5. Practice • Do the vocabulary exercise on p.20 in your coursebook

  6. Unit 8 Taxation in the European Union

  7. Taxation in the eu • What do you think? • Why are taxes collected? • Who determines tax rates in the EU? • What freedom do member states have in determining taxes?

  8. Taxation in the eu • Read the introductory paragraph on p. 24. • What is the aim of EU taxation policy? To ensure achievement of the goals of: • job creation • competitiveness of the EU • the single market • free movement of capital

  9. Taxation in the eu • Read the following two paragraphs. • Are there any requirements as to national public finances? • Who sets tax rates? • What principle is applied in decision-making regarding tax matters at EU level? What is the purpose of this principle?

  10. Taxation in the eu • Read the remaining two paragraphs on the page. • Why does the European Commission promote co-ordination and coherence? • What would happen if there was no co-ordination at EU level? • What are the powers of the ECJ in tax matters?

  11. The Role of indirect Taxes • page 25, paragraph 1 • How is VAT policy regulated at EU level? • paragraph 2 • What about excise taxes? • Are energy products treated differently? • paragraphs 3-5 • Summarize the outlined tax-related challenges.

  12. Savings and Pensions • paragraph 1 • Who makes personal taxation rules? • What is the role of the European Commission? • paragraph 2 • How is taxation of savings regulated in the EU?

  13. summary • EU member states decide about tax collection and rates • EU – guardian of the single market • EU regulations to avoid double taxation or tax avoidance • VAT – minimum 15% rate is set at EU level, as is the introduction of exceptional reduced rates

  14. Summary (continued) • Variations in excise taxes • Common policy regarding taxation of energy products -> facilitates common energy policy • Personal taxation – regulated at national level • Tax on savings paid to country of residence • Alternative: withholding tax – paid in bulk for all interests to the country of residence

  15. Key vocabulary and Terms single market free movement of capital leeway unanimity (unanimous) standard VAT rate withholding tax tax revenue

  16. Practice • Do the exercises on p.20 in your coursebook

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