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Business English Exercises
 

Transfer Pricing

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Home > Teaching Business English > Business English Lessons, Advanced Level # 137
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When one part of a multinational organisation in one country transfers (that is, sells) goods, services or know-how to another part in another country, the price charged for these goods or services is called 'transfer price'.

Correct answer: (c) sells

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According to Manfred Davidmann, this may be a purely arbitrary figure, meaning by this that it may be unrelated to costs incurred, to operations carried out, or to added value.

Correct answer: (d) arbitrary

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In other words, it is possible for a multinational company to minimise its liability for corporation tax by transfer pricing.

Correct answer: (c) liability

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This is done without any change to procedures, operations or added value; it is done by merely changing book entries.

Correct answer: (c) entries

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501 Business English Exercises — Printable, photocopiable.
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This tax avoidance is legal until governments legislate to prevent this practice.

Correct answer: (b) avoidance

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If a multinational has increased its profits by this method, then the government, whose expenses have not changed, must make up this shortfall elsewhere.

Correct answer: (c) shortfall

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Its citizens pay more tax, the government can spend the same amount as before, and the multinational's profits have increased: in other words, the multinational's increased profits arise from money which is in effect collected by the government from its taxpayers.

Correct answer: (b) effect

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This is a matter far removed from earning reasonable profits on needed quality goods and services at reasonable prices in open competition with other corporations.

Correct answer: (d) removed

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It seems that at times some top US companies pay no federal income tax at all or obtain an overall rebate.

Correct answer: (c) rebate

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Multinationals need to be made accountable to elected representatives of the people, for their policies and for acting for or against the national interest.

Correct answer: (c) interest

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Business English Practice Exercises Business English Tests — several topics are covered: office matters, job applications, computer English, money expressions, business law, operations management, retail marketing, e-commerce, accounting terms, contracts and agreements, commercial correspondence, etc.
You will be exposed to a wealth of authentic sample sentences that include a great variety of themes. This compact Business English Test Package is the only printable English test collection currently available on the Internet. It contains 501 Business English Exercises (10 questions per test plus answer keys).  Get your unique Business English Practice Exercises now!

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