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1 He'll
have paid his debts off by next year.
2 Look at the assets and liabilities on the balance sheet if you want to know how
the company's doing.
3 Many developing countries are burdened by heavy debt
4 We need to look at the long-term liabilities before we think about any major
new purchases.
5 The partnership has limited liability status.
6 Current liabilities are those which are paid off within a year.
7 The company's in debt to the tune of 10 million.
1 Norma has asked me to go over some of the ratios I used in the report.
2 Everyone got it?
3 Before you ask
4 Is that clear?
5 I was just coming to that.
6 OK, if there are no questions, I'd like to ...
2 tax bracket f tells you what amount of tax to pay based on income
3 tax evasion h trying riot to pay tax (illegal)
4 tax exempt d when you don't have to pay tax on certain income
5 tax exile a someone who lives in another country for tax reasons
6 to abolish tax e to cancel a tax
7 to impose tax b to introduce a new tax on something
8 to increase tax c to make the tax go up
1 The government needs more money, so it is planning to increase taxes.
2 He earns a lot of money- he must be in the highest tax bracket.
3 She lives there because she has to -she's a tax exile.
4 They are planning to abolish the tax on large company cars, and replace it
with a tax on all company cars.
5 She is a student, so she is tax exempt
6 The government is planning to introduce new tax breaks for IT companies.
7 Don't buy a house this year- the property taxes are being abolished next
March.
8 A tax return is the same as a tax declaration- it's a list of income and tax
deductible expenditure for the tax authority.