Writing. 10. Read the text carefully and write the summary

10. Read the text carefully and write the summary. Use the comments and useful phrases from Chapter II, Unit I, ex.9.

Russia has a uniform rate of tax on the income of individuals. As of 2011 tax in Russia is payable at the rate of 13% for an individual on most income (non-residents 30%). Russian residents pay 9% on dividend income. Non-residents pay 15% on dividend income.

Exemptions are granted to certain income earners.

The standard rate of Russia corporate profit tax in 2011 is 20%. Companies pay 9% tax on dividend income. The tax on company profits is made up of 2 rates:

- Federal tax - 2%.

- Regional tax - 18% (with a possible incentive reduction of up to 4.5%).

An individual is liable for tax on his income as an employee and on income as a self-employed person. Tax will be payable on income earned in Russia and overseas by an individual who meets the test of a "permanent resident" of Russia. A foreign resident who is employed in Russia pays tax only on income earned in Russia. To be considered a Russian resident, residence must be established of at least 183 days in Russia during 12 months in a calendar year.

An employer is obligated to deduct, immediately, each month, the amount of tax and national insurance due from a salaried worker.

A self-employed individual is obligated to make advance payments on income tax that will be offset on filing an annual report. In the case of a new business, the advance payments will be calculated on the basis of the business owner's estimate. The advance payments will be made at least 3 times in each year.

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