tax evasion, You hear about a local businessman who hides part of his income so he doesn’t have to pay taxes., tax liability, At the end of the year, your accountant tells you how much money you must pay to the government., withhold, A freelance worker is shocked to see less money on their bank account because the client refuses to pay the whole sum being dissatisfied with the service., tax reporting, It’s April, and you must prepare a declaration of your income and expenses for the tax office., tax rate, Two countries have very different percentages of income tax: one is 10%, the other is 40%. Which place would you prefer to work in, and why?, tax incentive, The government gives companies a lower tax if they use eco-friendly technologies., revenue collection, A city government uses money from taxes to build roads and schools., tax compliance, A small business owner carefully follows all tax rules and deadlines., penalty, Mr. Johnes forgot to file his tax return and now must pay extra money to the government., tax avoidance, A multinational company legally uses loopholes to pay less tax.

ESP 4

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