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Overview of General Tax Law and Online Banking Benefits

This session continues the exploration of the General Tax Law and its implications for taxpayers and tax authorities. Participants will engage in reading and comprehension activities focused on the Bank of Scotland's Online Banking System (HOBS). We will examine its advantages, including ease of use and accessibility, while addressing the key principles of tax law, taxpayer rights, and the tax authority's responsibilities. Key vocabulary and principles will be reviewed, with an emphasis on understanding taxation subjects and legal obligations.

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Overview of General Tax Law and Online Banking Benefits

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Presentation Transcript

  1. English for TaxAdministration 2 Lecturer: Miljen Matijašević G10, room 6/I, Tue 11:30-12:30 e-mail: miljen.matijasevic@gmail.com Session4, 1 Apr2014

  2. Today’s session • Continuedfromthelastsession • The General TaxLaw

  3. Continuedfromthe last session Online Banking (HOBS)

  4. HOBS – reading and comprehension Read lines 35 to 46 and answer the following questions: • What are the advantages of making payments through HOBS? • What is the purpose of the HOBS memory? • How does that work to the user’s advantage? • Translate the paragraph. Read lines 47 to 62 and answer the following questions: • Who is HOBS Investment Account intended for? • How long does money have to be deposited in the Investment Account in order to collect interest? • Are payment instructions carried out immediately?

  5. HOBS – reading and comprehension Read lines 63 to the end and answer the following questions: • Is HOBS available 24 hours a day? • Why is the HOBS service better than regular banking services? • What other benefits of being a Bank of Scotland customer are mentioned in the last section?

  6. HOBS – reading and comprehension Are the following statements true or false? Mark with T, F of DN (‘don’t know’). • HOBS can be used by both business people and private individuals. • You can only use HOBS if you have a PC. • If you use HOBS you will be given an identity number and a password. • £500 is the minimum required to open a HOBS account. • You can make ten monthly payments to cover the cost of buying HOBS. • Making a payment with HOBS is more expensive than paying by cheque. • HOBS can be programmed to pay your bills automatically. • There is more than one type of HOBS account. • HOBS can be accessed 24 hours a day. • You can arrange for The Bank of Scotland to give you a personal demonstration of how HOBS works.

  7. The General Tax Law Unit 1

  8. The General TaxLaw • promulgated 2008, amended 4 times • entered into force on 1 January 2009

  9. The General TaxLaw • Read the introduction and find out the basic information about the General Tax Law, paragraph 1 Which subjects are involved in taxation?

  10. TaxationSubjects • THE STATE • thelegislative • imposestax • the executive • Ministry of Finance – Tax Administration (the tax authority) • TAXPAYERS • LEGAL AND NATURAL PERSONS What do you learn about their relationship?

  11. TaxationSubjects • THE TAX AUTHORITY • assesses andcollects/leviestax • collects interest and fines • TAXPAYERS are entitled to • refundof tax paid without legal grounds • interest on such tax

  12. ThePrinciples • Read the first four principles and retell them in your own words • Do the same with the remaining six principles (p. 2) • Prepare a translation of the principles

  13. Protectionof Human Rights • Do Vocabulary Practice – exercise 1 • Translate the paragraph

  14. Taxable base • Do exercise 2. on page 3 • Translatetheparagraph • the tax authority will make an ESTIMATE if the taxpayer: • fails to provide proper books or records required by the law • cannot prove the authenticity of the data submitted • refuses to take part in or impedes the taxation procedure

  15. TaxReturn (porezna prijava) • a formal statement on a required legal form showing taxable income, allowable deductions and exemptions, and the computation of the tax due* NB: not to be confused with TAX REFUND Translate the definition! *definition by Merriam-Webster’s Dictionary

  16. TaxRightsandObligations • cease by: • payment • refund • compensation • write-off • statute of limitations • In pairs, try to work out the meanings of the above.

  17. TaxRightsandObligations • payment • settling of tax to be paid • refund • tax authority refunds any overpaid tax or tax paid that should not have been paid at all • compensation • offsetting of a tax debt by settling other public debts instead of receiving a tax refund • write-off • if tax could not be collected even by way of forcible payment • statute of limitations • a tax debt becomes obsolete

  18. KeyVocabulary tax authority Tax Administration taxpayer legal person natural person taxprovisions imposetax assesstax keeping of books and records tax return tax refund tax compensation tax write-off statute oflimitations collect/levytax

  19. Thank you for your attention!

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