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1. Internal Revenue Service (IRS) is … department in the United States Treasury.
2. This money is used by … government to provide services to the people living in … America.
3. Are you … UK resident?
4. There are … number of different taxes that you may have to pay in … UK.
5. The financial year starts on … sixth of April in one year and ends on … fifth of April in the following year.
6. A person needs to work for about … 10 years.
7. The USA Internal Revenue Code of 1986 is … most complex in the world.
8. … individual is assessed for income tax for the financial year.
9. You need to complete … tax return.
10. … certain amount of this money is withheld from your paycheck.
Find the mistakes and correct them.
1. Most of public expenditure is financed through a taxation and government borrowing.
2. A UK government is known to take nearly 40 % of national income in taxes.
3. In most countries there are a campaigns for cutting government spending.
4. It is important to analyze a profits shown in the accounts.
5. The income of an sole proprietorship must be reported on the proprietor’s individual tax return.
6. All individuals resident in an country are liable to income tax.
7. Retailer will pay value added tax on goods he buys.
8. Sales taxes fall on the wide range of products.
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